The Government of Ontario has issued 10 new invitations to apply to entrepreneurs looking to settle permanently in the province.
The minimum score for the latest draw, which took place on May 14, was 127.
The Entrepreneur Stream under the Ontario Immigrant Nominee Program operates on an 'Expression of Interest' (EOI) model, whereby eligible participants must first declare their interest in the program. The EOI model functions on a self-declared points-based system and participants are invited to apply based on their score. Applicants to this stream can claim points for factors under three categories: Experience, Investment and Human Capital. The maximum score available is 170 points.
Successful applicants obtain a temporary work permit support letter — based on a performance agreement — to establish the business in Ontario. If the investment and job creation agreements outlined in the performance agreement are adhered to, entrepreneurs may then be nominated by the Ontario Immigrant Nominee Program (OINP) for Canadian permanent residence.
This OINP stream is designed to attract individuals who are looking to start a new business or buy an existing business in Ontario.