On June 24, Ontario held another Provincial Nominee Program (PNP) draw aiming at Entrepreneurs candidates. For this draw, candidates who earned their Expressions of Interest (EOIs) scores between 22 November 2019 and 19 June 2020 have been considered.
Candidates who had the EOI scores between 134 and 200 got invitations. It is the third draw of its kind by 2020, taking the total number of invited entrepreneurs up to 70.
Eligibility criteria for the Entrepreneur segment depend on where the business is being established in Ontario. Recent reforms have reduced the requirements for minimum net worth and investments.
The net worth required for the proposed business within the Greater Toronto Area (GTA) is now $800,000, down from $1.5 million and the investment required is now down from $1 million to $600,000.
Entrepreneurs outside the GTA need a net worth of $400,000, instead of $800,000. Now they need to spend at least $200,000 instead of $500,000.
Candidates require 24 months of business experience over the last 60 months as owner or senior manager. Candidates previously needed 36 months of same-time experience.
Summary of the recent OINP draw
Draw date: June 24, 2020.
Program: Ontario Immigrant Nominee Program (OINP)
Number of candidates invited: 24
Number of candidates invited so far this year under this category: 70
Score requirements: 134-200