Newfoundland & Labrador E & I

Newfoundland and Labrador

Entrepreneur & Investor Programs

 

 

International Entrepreneur Category

Minimum Requirements:

  • Must be between 21 and 59 years old;
  • Must meet English or French language requirements;
  • Must have CAD $600,000 in net business and personal assets;
  • Must score at least 72 out of 120 in the Expression of Interest (EOI) assessment grid;
  • Must be able to invest at least CAD $200,000 to establish a business with 33.3 per cent ownership (or CAD $1 million in equity investment);
  • Must have at least two years of experience actively managing or owning a business in the last five years, or five years of experience in a senior business management role in the last ten years;
  • Must have a business plan with the required documentation;
  • Must have at least a high school diploma;
  • Must intend to live permanently in Newfoundland and Labrador;
  • Must create at least one full-time job for Canadian citizens or permanent residents;
  • Must show that the business will be for-profit;
  • Must conduct an exploratory visit to the province before starting or purchasing a business;

You may need to meet additional criteria for if you are purchasing or starting a business. In addition, your business must need particular criteria.

How it works:

The first step is to make sure that you are eligible for the International Entrepreneur Category. Once you are satisfied that you are, you must first complete an Expression of Interest (EOI) online.

Submitting an EOI does not count as an application, and does not guarantee that you will become a permanent resident. It is a pre-application screening process.

If you are successful, you will receive an Invitation to Apply from the province’s immigration office.

At this point, you will have to choose a Net Worth Verifier, who will verify your net worth.

You will then have to gather the required documents, including a Business Establishment Plan, and submit your application.

You will also need to submit your Net Worth Verification Report.

If your application was approved, you will be able to use your provincial nomination to apply for permanent residence with Canada’s federal immigration department, IRCC.

International Graduate Entrepreneur Category

Minimum Requirements:

  • Must be at least 21 years old;
  • Must provide a business continuity plan with supporting financial documents;
  • Must have graduated from Memorial University of College of the North Atlantic in the last two years, from a program that is at least two years long;
  • Must have a valid post-graduate work permit;
  • Must meet minimum language requirements in English or French (CLB 7);
  • Must have at least one year of experience managing a business where they hold at least one third ownership in the province;
  • Must create at least one full-time job for Canadian citizens or permanent residents;
  • Must show that the business is for-profit.

You may need to meet additional criteria for if you are purchasing or starting a business. In addition, your business must need particular criteria.

How it works:

First, make sure that you are eligible for the International Graduate Entrepreneur Category. The next step is to complete an Expression of Interest (EOI).

Submitting an EOI is not the same as an application. It is a pre-application screening process and does not guarantee that you will become a permanent resident.

If you are successful, you will receive an Invitation to Apply from the province’s immigration office.

You will then have to gather the required documents and submit your application. This includes a Review Engagement and Special Purpose Report.

These must be provided by a verifier that is licensed to provide this service. You may choose the verifier.

A Review Engagement consists of a review of your business’s financial statements. The Special Purpose Report includes an opinion about the financial viability of the business, recommendations for the business to improve its viability, a determination of any issues or challenges regarding the financial statements, as well as a business review.

If your application was approved, you will be able to use your provincial nomination to apply for permanent residence with Canada’s federal immigration department, IRCC.

For assistance please complete a generic Pre-Qualification (Assessment) or navigate to our home page and you can choose which country you are immigrating from in the drop down. 

 

https://www.gov.nl.ca/immigration/immigrating-to-newfoundland-and-labrador