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Ontario Province invited 21 entrepreneurs in the latest immigration draw

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Ontario Province invited 21 entrepreneurs in the latest immigration draw

It was a rare draw announced on 26th August 2020, in which 21 entrepreneurs were invited through the Ontario Immigrant Nominee Program (OINP) Entrepreneur stream. This is the fourth of its kind draw in 2020, and with this, the entrepreneurs invited by the province has gone up to 91.

On 26th August 2020, an Ontario Immigrant Nominee Program (OINP) draw was held in which 21 applicants were issued invited to the Entrepreneur Stream. The shortlisted applicants were those who had received the Expressions of Interest (EOIs) scores between 144 and 200. the candidates who met this score between 22nd November 2019 and 21st August 2020 were the only ones considered for the Provincial draw.

The Important Aspects of the draw –

  • Entrepreneur Invites sent – 21
  • EOI score - between 144 and 200
  • Selection time - between 22nd November 2019 and 21st August 2020
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    It is a rare draw of the Ontario Immigrant Nominee Program (OINP) draw and only fourth of its kind in 2020. With this draw, the total number of entrepreneurs invited by the province has gone up to 91.

    Flexibility in Net Worth and investment requirements for Entrepreneur stream

    The Entrepreneur stream's eligibility requirements rely on the applicants' proposed business. As per the recent reforms, the net worth and the investment requirements for the Ontario province have been lowered.

    In the Greater Toronto Area (GTA), the net worth required is now $800,000, and it was $1.5 million earlier. Further, the investment requirement has also been reduced from $1 million to $600,000

    For those outside the GTA, the net worth has been lowered from $800,000 to 400,00 and the minimum investment from $500,000 to $200,000. It is exactly half of what was required earlier.

    Apart from this, the applicants are also required to have at least 24 months of business experience either as an owner or a senior manager in the last 60 months. It is also a reduced experience time as earlier a 36 months of experience within the same timeframe was required for selection.

    What are the eligibility requirements for nomination in the Entrepreneur stream of Ontario?

    This stream is specially designed for applicants looking to start a new business initiative in Canada or buy an existing one. The candidates who meet the eligibility criterion receive a temporary work permit support letter to start a Business in Ontario. The support letter is like a performance agreement where the creation of jobs for the investment details are outlined and emphasized. The selected candidates have the chance to selected for the Canadian permanent residency as well.

    To be nominated, the following eligibility requirements need to be met by the Entrepreneurs. Successfully getting the nomination means the applicant can apply for Canadian permanent residence.

    • The applicant should have achieved the language proficiency score at a Canadian Language Benchmark (CLB) 4 level, at least.
    • To meet the residency requirements, the applicant should be physically residing in Ontario for a 75 percent mark (Nine months in a year). It is marked as per the period in which the business is established in Ontario.
    • Entrepreneurs need to be actively involved in the management of business activities.
    • Meet the conditions of the Performance Agreement for a continuous period of at least 20 months from the time of arriving in Ontario.

     

    Why should the applicant choose Meritide Visas for Immigration?

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    Frequently Asked Questions

    No, There is no cost to completing an Express Entry profile. After you receive an ITA and submit a full application you will be required to pay application fee…for more details call us directly.

    Yes, one can easily apply being in job because express entry process run simultaneously.

    If your spouse, or common law partner accompanying & have graduation, post graduation or any higher qualification you can get ECA done this will increase CRS points, there is no compulsion.

    The basic thing that you should aware of your profile eligibility before you apply, there are certain steps to follow like get qualification assessed by ECA prepare IELTS and follow the Federal System of inviting skilled immigrants in Canada is called Express Entry Program. The program is one of the most popular way to applying to Permanent Resident Visa.

    Express Entry was introduced by Citizenship and Immigration Canada (CIC) in the year 2015 This Federal system of CRS evaluates the applicants on the basis of their credentials such as present age, educational levels, work experience & skills acquired, English and French language ability etc.

    Basically Proof of funds indicates your financial stability

    Number of Family Members Funds Required (in Canadian dollars)
    1 $12,474
    2 $15,530

    Application processing fees to IRCC: $550 per person, and $150 per dependent child. Right of Permanent Residence fees to IRCC: $490 per person, no fees for dependent children. Educational Credential Assessments: around $300 per person if you count international delivery by courier.

    ECA is the only way for you to receive points for your foreign education, yes it is mandatory , you can avoid ECA only if you have any qualification done from Canada .

    No, Not really. IELTS is to know language proficiency parameter which can also be awarded by giving CELPIP-G

    TEF Canada- Exam for proving proficiency in French

    TCF Canada- Exam for proving proficiency in French

    In 75% of cases, an application submitted through Express Entry is processed within 6 months from the date it is received, processing time also depend on getting ITA also , rest left 25% cases can clear process in 9-12 months, if someone is on very low CRS then time varies case to case

    For filing your application, you need to create your express entry profile. You cannot file your express entry application if you are not having your Language Proficiency points with you . It is mandatory to appear in any of the asked tests by IRCC either is will be IELTS exam
    CELPIP-G
    TEF Canada- Exam for proving proficiency in French
    TCF Canada- Exam for proving proficiency in French
    Any of the above provide you language proficiency points

    You do not need a job offer to immigrate to Canada. There are programs available for you that allow you to apply for permanent residency in Canada without securing employment beforehand. You can apply PR if you are considered a Skilled Worker.

    After you receive PR Canada you can start your job search from Indian, we also help applicant to reach wider audience of employers so that applicants profile can get more approaches, you can also refer to social media platforms like Linked in, it plays important role, make connections stay connected & explore.

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