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Day: September 15, 2018

Nova Scotia Entrepreneur immigration

Know if you qualify for the Nova Scotia Entrepreneur immigration

Posted on by Venkat Karky Leave a Comment on Know if you qualify for the Nova Scotia Entrepreneur immigration

The of Nova Scotia Provincial Nominee Program is for experienced business owners and senior business managers who want to settle and grow their business in the Canadian province of Nova Scotia. Applying for permanent residence in Canada through the Entrepreneur Stream of the Nova Scotia Nominee Program (NSNP) involves six steps:

  1. Submitting an Expression of Interest
  2. Receiving an Invitation to Apply
  3. In-Person Interview and Business Performance Agreement
  4. Receiving work Permit and establishing business in Nova Scotia
  5. Submitting Request for provincial nomination from Nova Scotia
  6. Applying for Entrepreneur Stream Permanent Residence

Nova Scotia Entrepreneur Stream:Eligibility criteria for applicants

  1. The candidate must have minimum $600,000 CAD in unencumbered net business and personal assets that are readily available for transfer to Canada. The assets must be verified by third party professionals designated by Nova Scotia Office of Immigration (NSOI)
  2. The candidate must demonstrate that he/she accumulated the claimed net worth through legal means. This claim must also be verified by third party professionals designated by NSOI
  3. Business ownership experience of minimum three years including 33% ownership in the last 10 years, or more than five years of experience as a senior business manager in the last 10 years
  4. Canadian Language Benchmark (CLB) 5 in either English or French in listening, speaking, writing and reading. The language proficiency must be verified by Canadian English Language Proficiency Index Program (CELPIP) General test, International English Language Testing System (IELTS) General Training test or Test d’évaluation français (TEF). The tests must be taken within two years prior to the date of submitting the Expression of Interest.
  5. Education qualification of Canadian high school diploma or equivalent. If studied outside Canada, the educational credential must be verified by an Educational Credential Assessment (ECA). This must be taken in the last five years before the date of submitting the EoI.
  6. Agree to make a minimum capital investment of $150,000 CAD towards establishing a business in Nova Scotia.
  7. Agree to reside in Nova Scotia

Eligibility criteria for proposed business

  1. The applicant must own a minimum one third of the equity of the business
  2. The applicant must actively participate in the day-to-day management of the business
  3. The business must meet the legal requirements of the particular community that it operating in
  4. The primary purpose of the business must be making profit through the sale of goods and/or services.
  5. Must be a “permanent establishment” as defined under subsection 400(2) of the Canadian Income Tax Regulations, 1985
  6. Must pay income tax
  7. The applicant must be actively managing the business from the place of business in Nova Scotia
  8. The business must have the potential to create economic benefit to Nova Scotia

Are you an entrepreneur planning to immigrate to and invest in Canada? Contact us to know your options to apply for Nova Scotia Entrepreneur stream of immigration

Manitoba Entrepreneur immigration

Know if you qualify for the Manitoba Entrepreneur immigration

Posted on by Venkat Karky Leave a Comment on Know if you qualify for the Manitoba Entrepreneur immigration

Manitoba Provincial Nominee Program (MPNP) has an entrepreneur pathway under the Business Investor Stream (BIS) that allows entrepreneurs from across the world with intent and ability to start or purchase businesses in Manitoba, to settle in the province. The Entrepreneur Pathway was introduced by the MPNP replacing the previous MPNP-B stream. Through the entrepreneur pathway, qualified entrepreneurs can establish, purchase a business or become partners in an existing business within the first 24 months of arriving in Canada on a temporary work permit.

Eligibility criteria for applicants

Business Experience

The candidates must have minimum three years of full time work experience either as an active business owner or in a senior management role of a successful business, earned in the five years prior to submitting the application. However, those who have experience as business owners will receive more points than senior managers. Another requirement is that business owners must have at least 33 1/3 percent ownership to qualify.

Language proficiency

The required official language proficiency for applicants to the Entrepreneur Pathway is minimum CLB/NCLC 5.

Education qualification

The applicant must have education equivalent to Canadian high school certificate or higher

Age

No minimum or maximum age is specified for the Entreprenuer pathway. However, ranking points are allocated to candidates between 25 to 49 years of age.

Business investment

If the proposed business is situated in the Manitoba Capital Region, the minimum required investment is $250,000. The Manitoba Capital Region (MCR) is the area surrounding Winnipeg, the capital and the largest city in the province. It comprises 16 municipalities. They are:

  • The City of Winnipeg
  • The City of Selkirk
  • The Town of Stonewall
  • Cartier
  • East St. Paul
  • Headingley
  • Macdonald
  • Ritchot
  • Rockwood
  • Rosser
  • St. Andrews
  • St. Clements
  • St. Francois-Xavier
  • Springfield
  • Taché
  • St. Paul

But if the business is situated outside Manitoba Capital Region, the required minimum investment is $150,000. The investment must be made in a business considered eligible by MPNP. The business has to create job for at least one Canadian citizen or permanent resident in Manitoba.

Business Research Visit

The candidates have to submit a Business Plan as part of the application. They shall conduct a Business Research Visit to Manitoba get a clearer idea about the business environment and market where they are planning to start the business. The visit is supposed to be conducted within one year prior submitting the Expression of Interest (EoI).

Adaptability

Points are awarded to candidates based on adaptability factors. These are applicable if:

-The candidate’s spouse has CLB/NCLC 5 or higher

-The candidate or their spouse/common law partner has CLB/NCLC 5 or higher in the Second Official Language

-The candidate or their spouse/common law partner has a close relative in Manitoba who has been residing there for more than one year

-The candidate’s child is actively pursuing academic, professional or vocational training on a full-time basis in an accredited Manitoba educational institution for at least six months prior to the date of submission of EOI

-The candidate/accompanying spouse or common-law partner has completed a full-time study program for at least one year at a post-secondary institution in Manitoba.

– The candidate/accompanying spouse or common-law partner has minimum six months of continuous full time work experience in Manitoba.

Net worth

The minimum required net worth to apply through Entreprenuer pathway is $500,000 CAD. The personal net worth of the applicant will be verified by a third-party supplier approved by the MPNP. The verification report has to be submitted to the MPNP along with the application within 120 days after the candidate receives a Letter of Advice to Apply (LAA).

Business Performance Agreement

If the candidate meets all the requirements, MPNP will approve the application. But before the MPNP issues a letter of support to apply for a work permit, the candidate has to sign a Business Performance Agreement (BPA). A BPA elaborates on the obligations that have to be fulfilled by the candidate and his/her proposed business. These obligations have to be fulfilled within the time specified in the BPA.

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