Ontario province conducted an Entrepreneur Stream second draw of 2021 on October 27. In this draw, 20 Invitations to Apply (ITAs) were issued to candidates with a score ranging between 147 and 174 points. The invited candidates had already submitted an Expression of Interest profile latest by October 21, 2021.
Financial requirements under the Ontario Entrepreneur Stream
Net Worth
- If your proposed business is expected to be in the Greater Toronto Area, then you need to have a minimum net worth of $800,000 and on the other hand if your business is proposed to be outside Greater Toronto Area, then your net worth must be minimum $400,000.
- For a business proposed in either digital communications or ICT, a minimum net worth of 400,000 is required no matter wherever it has to be located in Ontario province.
Investment and Ownership
- An investment of minimum $600,000 is required to obtain 33 percent in business located in Greater Toronto Area.
- An investment of minimum $200,000 required to obtain 33 percent in business located outside Greater Toronto Area.
- An investment of minimum $200,000 required for obtaining 33 percent in business either in ICT or digital communications located anywhere in province.
Non-financial requirements in Ontario Entrepreneur Stream
- A minimum full-time business experience of 24 months required either as an owner or senior manager in the past 60 months.
- If your business is proposed in Greater Toronto Area, you must be able to create two full-time jobs for Canadian citizens or permanent residents. And for a proposed business in digital communications or ICT outside Greater Toronto Area, you must be able to create one full time job.
- At least a score of CLB 4 required in English or French language.
- 75 percent of the time invested for managing the business, you must reside in Ontario province.
For understanding the complete immigration procedure, you can seek services of a legitimate consultancy. Stoic Immigration, a Canadian Immigration Consultancy follows a transparent process to help people immigrate to and settle down in Canada. They believe in 100% transparency and keep you informed at each step of your file processing. At Stoic Immigration, they make the settling process easier with data-backed and clear information. You can be assured to get the accurate information from costs to timeline to acceptance without any unpleasant surprises.
