Immigration to Newfoundland and Labrador

International Entrepreneur

The International Entrepreneur category is intended for experienced business owners or senior business managers who wish to permanently reside in Newfoundland and Labrador.  They must start a new business or buy an existing business and must actively participate in the day-to-day management of the business.  After operating the business for at least one continuous year, the international entrepreneur may be nominated for permanent resident status, subject to fulfillment of certain criteria outlined by the Office of Immigration and Multiculturalism.

Eligibility criteria for the International Entrepreneur category

To qualify, an individual must:

• • • The age  should be 21 to 59 years;
    • Provide a business plan with supporting financial documentation verified by a recognized third-party professional
    • Have a minimum of Canadian high school diploma or equivalent foreign credential verified by an Education Credential Assessment (ECA), taken in the last five years prior to the date the EOI is submitted.
    • Want to live permanently in Newfoundland and Labrador while owning and actively managing a local business that has the potential to create significant economic benefit to Newfoundland and Labrador;
    • Have at least $600000 CAD in unencumbered net business and personal assets that can readily be transferred to Canada;
    • Be able to invest at least $200000 CAD of their own money to establish a business in the Newfoundland and Labrador with a minimum ownership of 33.3 per cent, or $1 million in equity investment;
    • Demonstrate ability to create at least one full-time equivalent job for local population (permanent residents and Canadian citizens);
    • Demonstrate that the business is a for-profit entity with the primary purpose of earning profits through the sale of goods and/or services;
    • Have at least two years’ experience actively managing and owning a business (25 per cent minimum ownership) in the last five years OR 5 or more years’ experience in a senior business management role in the last ten years;
    • Have a score of at least 5 on the Canadian Language Benchmark in speaking, listening, reading and writing in English or French (acceptable tests are Canadian English Language Proficiency Program (CELPIP) General Test, or International English Language Testing System (IELTS), General Training Test; or Test d’evaluation de francais (TEF);

There are two streams within the International Entrepreneur category, Each stream has unique criteria in addition to the criteria noted above.

• Starting a New Business
• Purchasing an Existing Business.

When Starting a New Business

If starting a business, the applicant must create a minimum of one full-time equivalent employment opportunity for a Canadian citizen or permanent resident in Newfoundland and Labrador. This position 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 applicant’s business; and
• Meet the prevailing wage levels.

When Purchasing an Existing Business

If the applicant is purchasing an existing Newfoundland and Labrador business, all of the following apply:

• The business must have been in continuous operation by the same owner for the previous five (5) years;
• All applicants purchasing or partnering in an existing business must complete an exploratory visit to meet the current owner(s) if the applicant is applying from outside of the province;
• Applicants must provide evidence that reasonable efforts were taken to establish a fair market value for the business;
• The business must be actively in operation and not in receivership; and
• Applicants must offer employment on similar terms and conditions to existing staff, including maintaining existing wages and employment terms.

Program Benefits:

• You can get permanent residency (PR)
• You can travel to 187 countries without any prior visa after obtaining Canadian citizenship
• You and your family can live anywhere in Canada (other than the province of Quebec).
• World-class learning environment
• Free health insurance