Newfoundland and Labrador International Entrepreneur
The Newfoundland and Labrador International Entrepreneur category is designed for foreign nationals who would like to settle in the province in order to establish, co-manage or purchase a business.
Entrepreneurs accepted under this category of the Newfoundland and Labrador Provincial Nominee Program (NLPNP) would receive a Temporary Work Permit to establish and operate their business.
Candidates in the Newfoundland and Labrador International Entrepreneur category will be required to have at least one year of experience owning and actively operating their business in Newfoundland and Labrador prior to pursuing a provincial nomination.
The first step in applying for this category is the submission of an Expression of Interest (EOI) to Newfoundland’s Office of Immigration and Multiculturalism. It is important to note that an EOI is not an application but rather a way for an individual to notify the Newfoundland government of his or her interest in being considered for an invitation to apply to the program.
Program Requirements
Requirement | |
|---|---|
| Express Entry Profile | No |
| Connection to Province | No |
| Job Offer | No |
| Language Proficiency | CLB 5 |
| Level of Education | High School |
| Work Experience | 2 years managing/owning a business OR 5 years as senior business manager |
| Investment Requirement | Net Worth: $600,000 CAD Investment: $200,000 CAD |
Starting a New Business Stream Additional Criteria
If starting a new business, candidates are required to create a minimum of one full-time year-round equivalent employment opportunity for a Canadian citizen or permanent resident in Newfoundland and Labrador.
This job must:
Be over and above any position filled by the approved applicant. For clarity, jobs created for or filled by dependents or relatives of the applicant are not eligible.
Be relevant and directly related to the candidate’s business.
Meet the prevailing provincial wage levels.
Purchasing an Existing Business Additional Criteria
If purchasing an existing business in Newfoundland and Labrador, all the following applies:
Applicants must provide evidence that reasonable efforts were taken to establish a fair market value for the business;
Applicants must complete an exploratory visit to meet current owner(s) is applying from outside of the province;
The business must have been in continuous operation by the same owner for the previous five (5) years;
The business must be actively in operation and not in receivership;
Applicants must offer employment on similar terms and conditions to existing staff, including maintaining existing wages and employment terms.
Partnerships
An international entrepreneur may propose up to 10 partners (i.e. the primary applicant and nine (9) additional partners) when applying. Partners may be other international entrepreneurs, Canadian citizens or permanent residents. If partners are also seeking permanent residence in Canada through this category, they must:
Invest $200,000 (CDN) and have at least one-third (33.3 per cent) ownership of the company; or must invest $1,000,000 or more.
Participating partners must also demonstrate active involvement in the day-to-day management of the proposed business.
Minimum Eligibility Requirements for the Applicant's Business
The international entrepreneur’s proposed business must:
meet the legal requirements of the community in which they operate;
be a for-profit entity with the primary purpose of earning profits through the sale of goods and/or services;
be considered a “permanent establishment” as defined under subsection 400(2) of the Canadian Income Tax Regulations, 1985;
pay income tax on taxable income earned as a result of a “permanent establishment” in Newfoundland and Labrador, irrespective of income or other taxes which may also be payable in other jurisdictions as a result of income earned or other business activity;
must be actively managed by the applicant from the place of business in Newfoundland and Labrador. The business must not be managed from another location in Newfoundland and Labrador or from another Canadian province or territory or other country.
have the potential to create significant economic benefit to Newfoundland and Labrador. For instance:
- Increasing value added manufacturing or processing, exports, destination tourism, research and development, and technology commercialization;
- Developing innovative approaches to traditional businesses
- Transferring technology and specialized knowledge to Newfoundland and Labrador; or
- Providing products or services to an under-served local or regional market.
Invitation to Apply
Submitting an EOI does not guarantee that an applicant will be invited to apply to the NLPNP International Entrepreneur Category. If a candidate is invited to apply, he or she will receive an ITA letter from the NLPNP. If they have been granted ITA, applicants must meet the following deadlines:
20 calendar days after the receipt of the ITA:
Select a designated Net Worth Verifier and inform the NL Office of Immigration and Multiculturalism.
90 calendar days after the receipt of the ITA:
Submit a complete application form
Provide all the required supporting documents; and
Submit a Business Establishment Plan.
180 calendar days after the receipt of the ITA:
Submit the Net Worth Verification Report.
Who is not eligible to apply to the Newfoundland and Labrador International Entrepreneur
Individuals living illegally in their country of residence;
A person who has had a removal order issued against them by IRCC or Canada Border Services Agency;
A person who is prohibited from entering Canada;
A passive investor (individuals who intend to invest in a Newfoundland and Labrador business with very limited or no involvement in the day-to-day management of the business); and
An individual who does not have status (ineligible to apply until their status is restored).
The first step towards moving to Canada is to get an assessment of your specific situation. Call us today at 1+613.222.7154 for an assessment to see if you are eligible to move to Canada, or fill out our online assessment form.
