The Canadian province of Ontario recently decided to extend invitations to entrepreneur immigration candidates who will be able to benefit the economy by creating new jobs and opportunities for the citizens.
Inviting more entrepreneurs
The purpose of the Entrepreneur steam is to catch the attention of individuals who want to purchase a business or start a new one in Ontario. The Ontario Immigrant Nominee program (OINP) is usually responsible for issuing invitations for the stream. On October 26, they distributed 21 invitations allowing candidates to apply to the entrepreneur stream.
Candidates with Expression of Interest scores in the range of 142 to 200 were the ones chosen for this opportunity. People who managed to get an invitation will just have to wait for the OINP to send them two emails. The first one will give them all the information they need about signing in while the second one will teach them how to finish the application.
Taking this round into account, Ontario has invited 112 candidates until now in 2020. Chosen applicants receive a work permit support letter temporarily so they can get started.
Should you apply?
If you are interested in the Entrepreneur stream, you should figure out the eligibility requirements based on where you want to open your business. Canada has recently lowered the qualifications related to minimum net worth and investments which means that you are in luck.
In order to establish a business in the Greater Toronto Area (GTA), you must have a net worth of $800,000 and be willing to invest $600,000. If you want to target areas outside GTA, then you should have an investment of at least $200,000 and a net worth of $400,000.