Newfoundland & Labrador immigration will invite Expressions of Interest from International Entrepreneurs as the stream opens for a second time in 2019 later in February.
The Atlantic province says the Newfoundland & Labrador Provincial Nominee Program (NLPNP) stream will open on February 22 between 10am and 5pm local time.
International Entrepreneur candidates must wish to settle in the province and engage in the daily operation of a business they create, join or take over.
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“Newfoundland & Labrador provides prospective immigrants with a welcoming business environment, supportive communities, and the many benefits of joining the social and economic life of the province,” said Bernard Davis, Minister of Advanced Education, Skills and Labour.
“I encourage immigrants to come here and build a better future for your family in a beautiful, safe, and friendly corner of the world.”
Meanwhile, the province’s International Graduate Entrepreneur stream remains open indefinitely for Expressions of Interest. Candidates must have graduated from either Memorial University or the College of the North Atlantic to qualify.
International Entrepreneur Category
The International Entrepreneur category is intended for experienced business owners or senior business managers who wish to permanently reside in Newfoundland and Labrador.
Requirements:
- Be 21 to 59 years of age.
- Provide a business plan with verified supporting financial documents.
- Have a minimum of Canadian high school diploma or equivalent.
- Want to live permanently in Newfoundland & Labrador while owning and actively managing a business of significant economic benefit to the province.
- Have at least $600,000 in unencumbered net business and personal assets that can readily be transferred to Canada.
- Be able to invest at least $200,000 to establish a business in Newfoundland & Labrador with a minimum ownership of 33.3 per cent, or $1 million in equity investment.
- Create at least one full-time job for Canadian citizens or permanent residents.
- Demonstrate the business is a for-profit entity with the primary purpose of earning profits through the sale of goods and/or services.
- Have at least two years’ experience actively managing and owning a business (25 per cent minimum ownership) in the last five years OR 5 or more years’ experience in a senior business management role in the last 10 years.
- Score of at least 5 on the Canadian Language Benchmark in speaking, listening, reading and writing in English or French (acceptable tests are Canadian English Language Proficiency Program (CELPIP) General Test, or International English Language Testing System (IELTS), General Training Test; or Test d’evaluation de francais (TEF);
- Complete an online Expression of Interest (EOI).
- Receive an Invitation to Apply from the Newfoundland & Labrador Office of Immigration and Multiculturalism.
International Graduate Entrepreneur Category
The International Graduate Entrepreneur category is aimed at graduates of Memorial University or College of the North Atlantic who have already started or bought a local business.
Requirements:
- Be at least 21 years of age.
- Provide a business plan with verified supporting financial documents.
- Have completed a degree or diploma after at least two academic years of full-time, in-person study at Memorial University or College of the North Atlantic with the degree or diploma having been completed within two years of submission of the Expression of Interest.
- Have a valid Post-Graduate Work Permit.
- Want to live permanently in Newfoundland & Labrador while owning and actively managing a business of significant economic benefit to the province.
- Have at least one year’s continuous experience actively managing and owning the current business (33.3 per cent minimum ownership);
- Create at least one full-time job for Canadian citizens or permanent residents.
- Demonstrate that the business is a for-profit entity with the primary purpose of earning profits through the sale of goods and/or services.
- Score at least 7 on the Canadian Language Benchmark in speaking, listening, reading and writing in English or French;
- Complete an online Expression of Interest.
- Receive an Invitation to Apply from the Newfoundland & Labrador Office of Immigration and Multiculturalism.