A Guide to Newfoundland and Labrador Entrepreneur Stream
Immigrate to Canada as an international entrepreneur through Newfoundland and Labrador Entrepreneur Stream. Check your eligibility now.
Newfoundland & Labrador is one of Canada’s most beautiful provinces. Its seaside landscapes and colourful towns attract people from all over the country. The province’s growing economy also offers many lucrative business opportunities for prospective investors.
Each year, numerous foreign entrepreneurs move to Newfoundland & Labrador to start or acquire a business. The provincial government encourages these individuals to settle in the province by offering special Newfoundland Entrepreneur Immigration Stream categories.
This guide will examine the two entrepreneur immigration categories of Newfoundland and Labrador Entrepreneur Stream, their requirements, and their application processes.
Newfoundland and Labrador Entrepreneur Stream
Newfoundland & Labrador currently offers two provincial nominee programs (PNP) that cater to foreign entrepreneurs and business owners. These are:
- Newfoundland International Entrepreneur
- Newfoundland International Graduate Entrepreneur
The eligibility requirements and application process for each program under the Newfoundland and Labrador Entrepreneur Stream are described below.
NL PNP - International Entrepreneur Category
The Newfoundland International Entrepreneur category under the Newfoundland and Labrador Entrepreneur Stream caters to foreign business owners or those with senior managerial experience. Suitable candidates must intend to start or acquire a business in the province and participate in managing it on an ongoing basis.
Entrepreneur candidates who operate their business successfully for one year will receive a nomination to apply for permanent residence.
Program Basic Requirements
- Age: 21-59 years
- Minimum Net Worth: $600,000 CAD
- Minimum Investment: $200,000 CAD
- Language Proficiency: CLB 5 or NCLC 5 (English or French)
- Education: Completed high school and possess a diploma (ECA required)
- Ownership: 33.3% or greater.
- Experience: Min. 2 years in business management or an entrepreneurial role.
- Exploratory Visit: Mandatory
- Business Plan: Mandatory
- Job Creation: 1 or more (Mandatory)
- Work Permit: PGWP (Mandatory)
NL PNP - International Graduate Entrepreneur Category
The Newfoundland International Graduate Entrepreneur category offers an immigration pathway for international students that have completed a program lasting two years or more at the College of the North Atlantic or from Memorial University. Such candidates should have already started or purchased a business in the province and have been running it for over a year while possessing a valid Post-Graduate Work Permit.
Program Basic Requirements
- Age: Above 20 years
- Language Proficiency: CLB 5 or NCLC 7 (English or French)
- Education: Diploma or degree lasting 2 years or more from the College of the North Atlantic or from Memorial University.
- Ownership: 33.3% or greater.
- Experience: Min. 1 year in business management or an entrepreneurial role.
- Job Creation: 1 or more (Mandatory)
- Work Permit: PGWP (Mandatory)
How ELAAR can help you?
Prospective entrepreneurs and international graduates who wish to apply for one of the programs under the Newfoundland Entrepreneur Immigration Stream discussed above should contact us here.
Our expert team of Regulated Immigration Consultants is familiar with each program’s requirements and application process. We can help optimize your application to maximize your chances of receiving a provincial nomination. Please contact us today and start working towards your new life in Newfoundland & Labrador.
FAQ: Newfoundland and Labrador Entrepreneur Stream
1. What are the ineligible businesses in the Newfoundland and Labrador Entrepreneur stream?
Businesses that are operated remotely, property rental, leasing activities, real estate development, insurance brokerage, business brokerage, self-employed businesses that require licensing or accreditation, pawnbrokers, taxi companies, not-for-profit businesses, home-based businesses, businesses that pay employees based on commission, any business that could bring disrepute to OIM, NLPNP.
2. What is a Business Performance Agreement?
If the candidate succeeds in the interview, he or she will be handed a Business Performance Agreement. The Business Performance Agreement is the applicant’s legal agreement with the Government of Newfoundland and Labrador that defines the requirements required for permanent resident status. The Business Performance Agreement will also include any additional information pertinent to the application, such as job creation, business succession, active engagement in business management, and business location.
3. How much Newfoundland Entrepreneur stream fee?
There is a provincial application fee of CAD$1,000 for the International Entrepreneur. The provincial application fee is subject to change without notice.
Apply for Newfoundland and Labrador Entrepreneur Stream
Get Canadian PR as an entrepreneur or an international graduate entrepreneur through the Newfoundland and Labrador Entrepreneur Stream.
