This program is for experienced business owners or senior managers who would like to start a new business or buy a business in NL and live there permanently. You must run the business for one full year to be eligible to apply for nomination.
How to apply? 1) Create an online profile and submit an expression of interest (EOI) for this category. 2) if your EOI was accepted, you will receive an ITA (invitation to apply) and will be asked to provide application forms and all supporting documents for the assessment 3) If your assessment was successful, you will be asked to appear for an interview, submit the business performance agreement, receive the International Entrepreneur Approval Letter, and apply for a work permit to IRCC. 4) Arrive in NL and meet with the OIM, 5) Set up your business, run it for one year and then submit a Nomination Request Form for nomination, 6) Once you receive the NL nomination certificate, then submit a PR application to IRCC-Centralized Intake Office and receive a PR visa.
|Provincial Point System||Online expression of interest point (EOI) system which has 120 points in total, language (32 points), Education (30 points), business ownership experience (24 points), NL priority sector (12 points), Age (12 points), and Adaptability (10 points)|
|Pass score||Achieve a minimum of 72 out of 120 to pass.|
|Language||Must have CLB 5 in English or French.|
|Experience||Must have 2 years of business management and owning business experience with 25% minimum ownership in the last 5 years, OR, have worked for 5 years or more, as a senior manager role in the business in the last 10 years.|
|Education||Must have a minimum of Canadian high school or ECA.|
|Others||Networth: have at least $600,000 in funds readily available for transfer to Canada. Investment: must have at least $200,000 to invest in business creation in N.L. with minimum ownership of 33.33%, OR secure $million in equity investment. Age: must be between 21 to 59 years of age. A business plan is required with supporting financial documentation. Job creation: create at least one full-time job when starting a new business. If buying a business, the business must have been with the current owner for the last 5 years. Type of Business: There is a restriction on the type of business, as some businesses are ineligible. Priority sectors: regional economic development or high-demand industries or sectors (such as agriculture, aquaculture, technology, natural resource).|