Ontario Conducts First Entrepreneur Draw Since Slashing Net Worth, Investment Requirements

/ / Publicado en 2019, 2019, Canada Immigration News Articles, Ontario, Ontario Immigration
Ontario Conducts First Entrepreneur Draw Since Slashing Net Worth, Investment Requirements

2019-09-23 – Ontario has conducted its first Entrepreneur Stream draw since significantly reducing net worth, investment and business experience requirements for the Ontario Immigrant Nominee Program category.

In a September 20 draw, 15 invites were issued with a minimum score of 127 points. Only candidates with Expressions of Interest scored as of September 12, 2019, qualified for the draw.

This was the third Ontario Entrepreneur draw of 2019 and the first since April 5, when 22 candidates were invited with a minimum score of 112.

It was also the first since a raft of changes were introduced on July 8, 2019.

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Ontario Slashes Entrepreneur Stream Investment, Net Worth and Experience Requirements
Minimum Score Drops In New Ontario Entrepreneur Stream Draw

Ontario Entrepreneur Stream: 2019 Draws

DateNOIs Minimum score
20-09-201915127
05-04-201922112
17-01-2019 13115

The changes included reducing net worth requirements from $1.5 million to $800,000 for businesses inside the GTA, and from $800,000 to $400,000 for those outside.

The minimum investment requirement was also cut from $1 million to $600,000 for businesses inside the GTA, and from $500,000 to $200,000 for those outside.

Required business experience was reduced from 36 months within the last 60 to 24 months within the last 60.

Summary of Changes To The Ontario Entrepreneur Stream

Requirement DescriptionBefore July 8, 2019After July 8 2019
Net worth for proposed business inside GTA$1.5 million$800,000
Net worth for proposed business outside GTA$800,000$400,000
Net worth for proposed business in involved in Information Communications Technology or Digital Communications$800,000$400,000
Minimum investment for proposed business inside GTA$1 million$600,000
Minimum investment for proposed business outside GTA$500,000$200,000
Minimum investment for proposed business in involved in Information Communications Technology or Digital Communications$500,000$200,000
Business experience as owner or senior manager36 months within last 60 months24 months within last 60 months

The changes also saw Ontario terminate the unpopular Corporate Stream, which was aimed at established international corporations that wanted to expand into Ontario or buy an existing Ontario business.

Ontario Entrepreneur Stream: Financial Requirements

1) Net Worth

  • Minimum net worth of $800,000 if your proposed business will be in the Greater Toronto Area (GTA). Outside the GTA, minimum net worth is $400,000.
  • Proposed business in either ICT or digital communications, minimum net worth is $400,000 anywhere in province.

2) Investment and Ownership

  • Invest at least $600,000 in an Ontario business and own at least 33 per cent if business is in GTA.
  • Outside GTA, invest at least $200,000 and own at least 33 per cent.
  • Proposed business in either ICT or digital communications, invest at least $200,000 and own at least 33 per cent anywhere in province.

Ontario Entrepreneur Stream: Non-Financial Requirements

  • At least 24 months of full-time business experience in the past 60 months, as an owner or senior manager.
  • Create two full-time jobs for Canadian citizens or permanent residents in the proposed company if located inside the GTA. Business located outside the GTA, or in either ICT or digital communications, must create one full time job.
  • Make exploratory visit to Ontario in the 12 months prior to application. Note: This only applies to those buying an existing business.
  • Minimum CLB 4 in English or French.
  • Physically reside in Ontario for at least 75% of the time you are managing the business.