On May 12, 2023, The Ontario Entrepreneur Stream released the new draw results. It was the third draw for business candidates of the year. The province issued 14 Invitations to Apply (ITAs) to business candidates in this draw. 

This round’s Comprehensive Ranking System (CRS) score was between 135 and 178. The OINP noted that those whose Expressions of Interest were scored by May 9, 2023, were eligible for this draw. This year, Ontario invited 17,087 candidates under all streams of the OINP, including 37 entrepreneurs.

Ontario Entrepreneur Stream: 2023 Draws

Ontario Entrepreneur Stream invitation details as of May 12, 2023, are listed in the table below;

About the Ontario Entrepreneur Stream

The Ontario Immigrant Nominee Program (OINP) has an immigration stream called the Entrepreneur stream. It was created in line with the 2015 Ontario Immigration Act along with its regulations. This stream is for business owners from outside Canada who want to start a new business or acquire an existing business in Ontario.  

Once their company has been established in Ontario, it allows an entrepreneur (and up to one foreign national business partner) an opportunity to be nominated for permanent residence. 

What are the Requirements for Ontario Entrepreneur Stream?

An applicant must be able to demonstrate that they have the interest, capability, and financial resources to own and actively manage an Ontario business in order to be eligible to submit an EOI for the Ontario Entrepreneur stream. Because of this, the program requires both a high level of business management experience and a significant financial net worth.

Work Experience: For at least 24 of the last 60 months, you have been a business owner or a senior manager (business management) experience.

Language Proficiency: Applicants for this stream must have valid language test results demonstrating English language ability at CLB) Level 4 or above Canadian Language Benchmark.

Investment requirements: Your net worth must be a minimum of $800,000 if your prospective business is located in the GTA and your net worth must be a minimum of $400,000 if your prospective business is located outside of the Greater Toronto Area (GTA). Click here to get to know about complete Investment factors

Also, read the latest Canadian Immigration News:

OTTAWA ANNOUNCED $65 MILLION IN FUNDING TO IMPROVE SETTLEMENT SERVICES

ESDC UPDATED PROCESSING TIMES FOR LMIA APPLICATIONS

ONTARIO INVITED 984 CANDIDATES UNDER TWO STREAMS OF OINP

IN THE LATEST PNP-TARGETED EXPRESS ENTRY DRAW CRS DROPS 57 POINTS

Want to know more details about the “Ontario Entrepreneur Stream invited 14 business candidates” you can contact one of our immigration specialists at  Gunness & Associates.

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