Immigration for international students by purchasing a business in Newfoundland through NL PNP International Graduate Entrepreneur Category.
NL PNP International Graduate Entrepreneur Category
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Book a Strategy MeetingThe Newfoundland International Graduate Entrepreneur stream 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.
Eligibility Requirements
The minimum eligibility requirements for the International Graduate Entrepreneur Category are described below:
Age Requirements
The candidate must be above 20 years of age. Candidates between the age of 21 and 50 will receive more points on their Points Grid.
Work Experience
Candidates must have experience in owning and managing their business in the province for a minimum of one year.
Business Ownership Amount
You must also have a minimum ownership share of 33.3% for the work experience to qualify.
Education
- Candidates must have completed a program lasting two years or more from the College of the North Atlantic or from Memorial University.
- They must also have received their degree or diploma within the two years preceding their Expression of Interest (EOI)
- Candidates can get additional points on their Points Grid if they have a Master’s degree or a Ph.D. degree from any one of the educational institutes mentioned above.
Business Continuity Plan
The applicant must submit a business continuity plan along with supporting documents verified by an official third party.
Job Creation
- The candidate’s business must create one or more full-time positions for Canadian citizens or Canadian permanent residents residing in Newfoundland & Labrador.
- This job creation condition is only applicable if the candidate is setting up a new business. Applicants who are purchasing an existing business do not need to follow this requirement.
Post Graduate Work Permit
Candidates must also hold a valid post-graduate work permit at the time they apply for the program.
Language Proficiency
- International graduates must demonstrate their proficiency in English or French by scoring a minimum of CLB 5 or NCLC 7 on an approved language exam.
- They can score more points on their Points Grid if their score exceeds this.
Business Requirements
- The candidate must continuously operate their business in Newfoundland & Labrador for one year before submitting their Expression of Interest.
- The candidate must possess an ownership share of 33.3% or more in the company.
- The business owner must demonstrate that their salary from the business meets the Low Income Cut-Off (LICO) requirements defined by Statistics Canada.
- The business’s goal must be to turn a profit.
- The business must benefit the Newfoundland & Labrador economy.
Requirements for Purchasing an Existing Business
- The business must have been continuously operated by the same owner in the five years preceding the entrepreneur’s purchase.
- The business will continue to employ existing staff under similar conditions and terms as before.
- The candidate must demonstrate they have established a fair value for their newly acquired business.
Requirements for Partnerships
- Businesses can be owned by up to three partners under a single International Graduate Entrepreneur category application.
- These partners can be foreign nationals, Canadian citizens, or Canadian permanent residents.
- Each individual attempting to obtain permanent residency through this method must possess a minimum ownership share of 33.3% in the company.
Step-by-Step Process
The NLPNP International Graduate Entrepreneur Category application process is described below.
Stage 1
- Research & Preparation
- Registration
- Application
Stage 2
- Application Approval
- Applying for Permanent Residence
Stage One
1. Research & Preparation
Candidates should first determine if they meet the eligibility requirements stated above. They can then calculate how many points they are eligible for under the Points Grid.
2. Registration
Next, candidates can fill out their Expression of Interest (EOI) and submit it at www.nlimmigration.ca. Applicants should ensure all the information they provide in their EOI is accurate and up to date. They will then be placed in a pool of candidates and be ranked depending on the number of points they have.
3. Application
- Successful entrepreneur candidates will then receive an Invitation to Apply (ITA) from the Office of Immigration and Multiculturalism (OIM).
- They will then have twenty days to select a Net Worth Verifier designated by OIM and notify them.
- Candidates must submit their completed application form, supporting documents, Special Purpose Report, and Review Engagement Report within 90 days of receiving their ITA.
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Stage Two
4. Application Approval
The OIM will then review the candidate’s applications and ask them to attend an interview in the province if they meet the program’s eligibility criteria. International graduate candidates will also be asked to submit their Business Continuity Plan during this step.
6. Applying for Permanent Residence
- Successful candidates will receive an official provincial nomination certificate from the province.
- They must use this certificate to apply for a permanent resident visa with IRCC within the next six months.
- International graduate candidates should also ensure they maintain their legal status in Canada and possess a valid work permit until IRCC makes a decision regarding their application.
- They will also be asked to complete additional security, healthy, and criminal reviews during their assessment.
- Successful candidates and their dependents will be issued a permanent resident visa.
How ELAAR can help you?
Prospective international students who wish to apply for the NL PNP International Graduate Entrepreneur Category should get in touch with us. Our team of Regulated Immigration Consultants can help optimize your application and business proposal to maximize your chances of getting permanent residence.
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International graduate students can Settle in Newfoundland and Labrador through NL PNP International Graduate Entrepreneur Category.
