Ontario Invites 21 candidates under Entrepreneur Stream: First draw of 2022

 Abstract: Ontario issues 21 ITAs to immigrants through Ontario PNP.

Highlights:

• Ontario conducted its first draw of the year on March 4, 2022.
• OINP focused on the Entrepreneur stream for the draw.
• Applicants who had submitted their Expression of Interest before February 21, 2022, were eligible for the draw.

In its first draw of the year, Ontario issued ITA or Invitation to apply for 21 immigrants. The Entrepreneur stream draw was held through the OINP or Ontario Immigrant Nominee Program. The candidates who had submitted their Expression of Interest before February 21, 2022, had to score between 152 to 169 points to be eligible for the draw. *Know your eligibility to Canada through Y-Axis Canada Immigration Points Calculator.

Criteria for the Entrepreneur Stream Draw

These are the financial requirements immigrant entrepreneurs need to fulfill to be eligible for the OINP draw. Total Assets

• The net worth should be a minimum of $800,000 if the proposed business plan is in the GTA or Greater Toronto Area.
• The net worth should be at least $400,000 outside the GTA.
• The business plans in the ICT (Information and Communication Technology) or digital communications should have a net worth of at least $400,000 if it is being established in Ontario.

*Want to migrate to Canada? Get expert guidance from Y-Axis. For Ownership and Investment

• Investment of a minimum of $600,000 in a business in Ontario
• Own a minimum of 33% of the company in GTA
• Invest at least $200,000 and own 33% of the company outside GTA
• Business plans in either digital communications or ICT
• Investment of minimum $200,000
• Own 33% of the business organization anywhere in the province

*Do you want to invest in Canada? Y-Axis will guide you with the detailed procedures.

Non-Financial Criteria for the Ontario Entrepreneurship stream

The non-financial requirement to be eligible for the OINP Entrepreneur draw is listed below.

• A minimum of 2 years of experience in a full-time business in the past five years as a senior manager or an owner.
• Generate two full-time jobs for citizens or permanent residents of Canada in the company, if it operates within the GTA
• Businesses operating outside the GTA, be it the digital communications or the ICT sector, should generate one full-time job.
• Before 12 months of submitting the application, the applicant must make an exploratory visit.

The applicants who buy an existing business should fulfill the following requirements.

• At least CLB 4 in French or English.
• The applicant should reside in Ontario for three-fourths of the time they operate the business.

Do you wish to apply for Canada PR? Contact Y-Axis, the No. 1 Overseas Immigration Consultant. 

Also Read: Canada’s newly-permanent Atlantic Immigration Program opens tomorrow