Newfoundland and Labrador International Entrepreneur Category
If you’re an experienced entrepreneur, business owner, or senior business manager who wants to continue your business or establish a new business in Newfoundland and Labrador, the International Entrepreneur category is the right stream for you. You will be nominated for permanent residency after managing your business actively daily in Newfoundland and Labrador for around a year. You are also allowed to have multiple partners in the business who may also want to be permanent residents.
The International Entrepreneur category of the Newfoundland and Labrador Provincial Nominee Program consists of certain criteria that you must meet when you’re applying for this stream.
- You should be between 21 to 59 years of age.
- You must have a substantiated net worth of 600,000 CAD.
- You are expected to invest a minimum of 200,000 CAD for business establishment.
- You must have scored at least CLB 5 on a legit language test.
- You should have graduated with a diploma from a Canadian high school or a degree corresponding to Canadian education. (ECA required)
- You should have a minimum of 2 years of experience managing a business or taking up a minimum of 25% of the ownership in the business as an entrepreneur in the last 5 years.
- You must actively partake in the business daily by establishing an office or a business place in Newfoundland and Labrador.
- You must own at least ⅓ of the equity in the business or invest a minimum of 1 million CAD.
- Your business must not come under the list of ineligible businesses (e.g. home-based businesses, pawn shops, etc.)
- You must possess the ability to contribute to the economy of Newfoundland and Labrador.
- You should be a for-profit entity with a primary reason through the sale of goods and services.
- You must provide an operational business plan with independently sanctioned financial documentation.
When you are establishing a new business or taking over an existing business in Newfoundland and Labrador, you must pass the criteria listed below for you.
- Before you plan to establish your business or buy an existing business in Newfoundland and Labrador, you must go on an exploratory visit to meet the owner.
You should provide full-time employment for a resident in Newfoundland and Labrador who should not be related to you.
You are not eligible to apply if:
You or any of your family members have a history of criminal records.
You have purposefully misconstrued yourself in your application.
You have unsettled custody or child support disputes.
You are a failed refugee claimant or a refugee claimant.
You quit or lose your job during the application process.
You have a serious medical condition.
Newfoundland and Labrador is a great place to reside. Late spring and early fall in Newfoundland is a great time to spend in Newfoundland and Labrador. You can experience a great quality of living, live in a province that has low crime rates, and be surrounded by natural beauty. Though applying through the Newfoundland and Labrador International category can be a bit challenging, we got your back! CanApprove provides its best services right from filling out your application till you settle at your destination. If you’re looking for assistance or want to know more about the Newfoundland and Labrador Provincial Nominee Program, connect with us. We’d love to hear from you!