On 26th October, 21 invitations issued to the entrepreneur stream applicants, by Ontario. Now, you can apply for apply for Canada start-up visa.
The applicants having the Expression of Interest (EOI) score between 142 and 200 issued the invitations by the Ontario Immigrant Nominee Program (OINP).
Those applicants who have got the invitations need not ask anything else to the program. Two emails will be sent to you by OINP. In the first one, there will be the login information. However, another will be having the instructions on how to fill the form.
Those applicants, who were not issued any invitations even after being eligible, will get call within the 12 months from the date of submission.
This was Ontario’s fifth draw for the entrepreneur, of 2020. It has issued invitations to 112 applicants until now.
The place where the business is going to be propose in Ontario will decide the requirements for eligibility. The net worth and requirements in investments have been reduced recently in the reforms.
The amount of minimum investment reduced to $800,000 from $1.5 million within the Greater Toronto Area. And even the investment has reduced to $600,000 from $1 million.
The entrepreneurs going to start the business outside the GTA need only $400,000 in net worth which was $800,000 earlier. And in case of investment, it has reduced to $200,000 from $500,000.
The applicant having a minimum experience of 2 years as an owner or any senior manager within the period of last 60 months. Earlier the required experience period used to be only 36 months within the same time interval.
Minimum requirements for receiving a nomination
This entrepreneur stream is looking forward to attracting those entrepreneurs who are going to do business. And those who are going to buy an existing business in Ontario. The successful applicants will get a temporary work permit for settling their business in the province. The support letter will be under an agreement to meet the targets set by them in the case of job creation and investment. However, if the applicant can achieve those goals then they will get the chance to be a nominee for Canadian permanent residence.
After achieving the set targets and goals the applicant needs to have these minimum requirements to get nomination. However, after getting the nomination certificate the applicant can create an application to get Canada’s permanent residence.
After the establishment of the business in Ontario. The applicant needs to meet the following requirements to apply for the nomination:
- A CLB equivalent to 4 in language proficiency is a must.
- The applicant has to meet the residency requirements for the program, i.e. the applicant has to physically be present in Ontario for 75 per cent of the period he took for the establishment of his business.
- The applicant has to get involvement in the activities regarding business.
The selected applicants for nominations have to meet the goals set in the agreement for 20 months after arriving in Ontario.
Know more about Canada Self-Employed Immigrant Visa If you have doubts regarding the programs or policies, you should go to a legal immigration consultant. Contact with the best immigration consultants of Migrate Now as it is presently the best immigration agency in Dubai.