Ontario Makes Changes to Provincial Nominee Programs | Anlex灝鏘
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Ontario Makes Changes to Provincial Nominee Programs

On July 8th, 2019 the Ontario Immigrant Nominee Program (OINP) announced changes made to the Entrepreneur Stream which is one of their existing provincial nominee programs.

The Entrepreneur Stream is for those looking to open and operate a business in Ontario. The previous requirements required the highest net worth and personal investment of all of the entrepreneur provincial nominee programs.

The program use to require applicants to have a:

  • Minimum investment of $1,000,000 Canadian Dollars if operating a business in the Greater Toronto Area OR $500,000 Canadian Dollars if operating a business outside of the Greater Toronto Area 
  • Minimum net worth of $1,500,000 Canadian Dollars if operating a business in the Greater Toronto Area OR $ 800,000 Canadian Dollars if operating a business outside of the Greater Toronto Area 

These requirements have now been updated and now require applicants to have a :

  • Minimum investment of $600,000 if operating a business in the Greater Toronto Area OR $200,000 Canadian Dollars if operating a business outside of the Greater Toronto Area OR in the information and communications technology or digital communications sector.
  • Minimum net worth of $800,000 Canadian Dollars if operating a business in the Greater Toronto Area OR $ 400,000 Canadian Dollars if operating a business outside of the Greater Toronto Area OR in the information and communications technology or digital communications sector regardless of location

With the relaxation policy of the Ontario Immigration Service, immigration to Toronto is indeed easier than ever, and will undoubtedly attract more entrepreneurs to do business in Canada. However, Canada still has other options. Except the perosonal wishes, it is necessary for immigrants to consider the budget for the migration program. Thus, do remember to carefully choose the most suitable immigration program!

If you have any enquiries about migration,please feel free to contact us!

 

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Source:https://www.cicdaily.com/ontario-makes-changes-to-two-provincial-nominee-programs/