Ontario immigration announced a whole list of changes coming to the Ontario Immigrant Nominee Program (OINP) during the 2019 budget hearing. Nearly every category of the OINP will undergo some changes which include revised net worth requirements for the Entrepreneur Stream, changed work experience periods and more. These changes were designed to make the province more responsive to current labour market and employer needs.
So what does this mean for your Canadian visa application? Will they make the requirements more or less difficult to meet? The answer isn't as simple as a mere yes or no reply. Find out how these changes affect your chances of a successful Canadian immigration below. Please bear in mind that these changes will only go into effect after 30 May, 2019.
The following OINP streams will be affected by the proposed changes:
- Entrepreneur Stream;
- Employer Job Offer: In-demand Skills Stream;
- Ontario Express Entry Stream;
- Masters Graduate and PhD Streams; and
- Corporate Stream
The Ontario Entrepreneur Stream currently requires applicants to have an immense networth of more than $1, 000, 000 CAD. This is clearly not the easiest to meet which has resulted in less applications than what the province had hoped for. Ontario’s personal investment and personal net worth requirements of their OINP is also much higher than other province’s corresponding Provincial Nominee Program Entrepreneurial Stream requirements.
The changes are said to increase the number of applicants as well as the quality of business proposals. In some cases the required amount has been cut by more than half of what the current requirements are.
The current minimum investment requirement requires applicants to make a minimum of $1, 000, 000 CAD investment in their proposed business if it is located within the greater Toronto area. If their business is located outside of this area, the amount is reduced to $500, 000 CAD. The proposed changes are set to revise the amounts to $600, 000 CAD for businesses in the greater Toronto area and $200, 000 CAD for businesses outside of this area.
Applicants currently need to have a personal net worth of at least $1, 500, 000 CAD if their proposed business will be located in the greater Toronto area and $800,000 CAD if not. The revised amount has reduced this number to $800, 000 CAD if the proposed business will be located within the greater Toronto area and $400, 000 CAD if not.
Employer Job Offer: In-demand Skills Stream
This stream directly looks for foreign workers who have experience in one of the in-demand occupations in the province. Of course what is needed in the province changes over time so the stream must be responsive to this. Now with the proposed changes Ontario immigration has added nurse aides, orderlies, patient services associates, home support workers and transport truck drivers to the list of occupations.
Express Entry Stream
Previously, the work experience requirement started counting from the moment that you received a Notification of Interest from Ontario Immigration. Now, the requirement will assess work experience from the moment you applied for a Provincial Nomination. This change brings the requirement in line with all the other OINP streams criteria.
Masters Graduate and PhD Graduate Streams
Applicants for the Masters Graduate and PhD Graduate Streams must now submit proof that they obtained their degree from an eligible Ontarian institution or they must submit a letter from the said institution that shows the applicant has completed all of the necessary requirements to obtain the degree.
Termination of Corporate Stream
The Ontario 2019 budget revealed the OINP’s intention to terminate the Corporate Stream of the program which was initially established to help international corporations expand into Ontario. Unfortunately, it has not been able to meet this goal so Ontario immigration has decided to scrap the stream all together.
How to Apply For Canadian Immigration
If you are interested in immigrating to Ontario or any other province in Canada, then we can help you. There are over 70 different Canadian immigration programs with unique sets of requirements. It will take you forever to find the perfect program for you so luckily we are here to narrow down your options to the ones you are likely to succeed with. Once you sign up for our services, we will do just that.
After you have made your decision on the program you would like to apply for, we will represent you on your application and apply on your behalf. Our team of Regulated Canadian Immigration Consultants (RCICs) will ensure that your application stands the best chance of success. Get them started on your application today!