Ontario Revised Business Entrepreneur Programme

In its budget, the Ontario government said adjusting the investment and net-worth thresholds for the OINP’s Entrepreneur Stream will “make Ontario more competitive with other provinces” and expand the province’s base of prospective candidates.

The Entrepreneur Stream allows eligible candidates to open a new business or buy an existing business in Ontario.

The OINP said the proposed amendments “will increase the quality of business proposals and bring minimum investment and net worth thresholds in line with other jurisdictions.”

In certain cases, the minimum threshold will be reduced by half or even more than half of the current requirements.

CURRENT MINIMUM INVESTMENT REQUIREMENT REVISED INVESTMENT REQUIREMENT
$1,000,000 minimum personal investment if the proposed business will be located within the Greater Toronto Area (GTA) $600,000
$500,000 minimum personal investment if the proposed business will be located outside the GTA. $200,000
$500,000 minimum personal investment if the proposed business will be in the ICT/Digital Communications sector regardless of location. $200,000

The proposed amendments would also reduce the personal net worth threshold as follows:

 

CURRENT MINIMUM INVESTMENT REQUIREMENT REVISED INVESTMENT REQUIREMENT
$1,500,000 minimum personal investment if the proposed business will be located within the GTA.) $800,000
$800,000 minimum personal investment if the proposed business will be located outside the GTA. $400,000
$800,000 minimum personal investment if the proposed business will be in the ICT/Digital Communications sector regardless of location. $400,000

 

The amendments also introduce varied job creation requirements for businesses located in the GTA and those that are either outside the GTA or in the Information and Communications Technology / Digital Communications sector.

The current requirement holds applicants to creating two permanent, full-time jobs within the first 20 months of establishing or acquiring a business regardless of its geographical location or industrial sector.

The proposed amendments would change this requirement so that:

  • a business located in the GTA would have to create at least two permanent, full-time jobs for Canadian citizens or permanent residents of Canada within the first 20 months of establishing or acquiring the business.
  • a business located outside the GTA or in the Information and Communications Technology / Digital Communications sector would have to create only one permanent, full-time job for a Canadian citizen or permanent resident of Canada within the first 20 months of establishing or acquiring the business.

The jobs created have to be filled continuously for at least 10 months before the submission of a final report to the OINP and the jobs must continue to exist at the time the report is submitted and when a nomination for Canadian permanent residence is issued.

Among other changes, the proposed amendments would require candidates to have experience managing the day-to-day operations of a business in whole or in part