Recent changes to the Ontario Immigrant Nominee Program mean that unselected candidates who registered for the Entrepreneur Stream before July 8 must re-apply to be considered for future draws.
Effective July 8, the changes include lowering the threshold of investment and net worth required for newcomer entrepreneurs and fine-tuning the applicant screening process.
Those investing outside the Greater Toronto Area (GTA) or investing in tech and communications businesses now only need to invest $200,000 instead of the previous $500,000, and other newcomer business owners within the GTA will now need to invest $600,000 rather than $1 million.
Candidates who applied in response to an invitation prior to July 8 will be evaluated based on the previous criteria, whereas those who are invited afterward will be evaluated using the new regulatory amendments.