The Newfoundland and Labrador Provincial Nominee Program’s (NLNP) International Entrepreneur stream extends an invitation to foreign entrepreneurs possessing the necessary financial resources and managerial expertise to establish and run a business within Newfoundland.
Program Eligibility
| Requirement | |
| Express Entry Profile | – Need not required to be registered under the Federal Express Entry program |
| Age | – Between 21 to 59 Years. |
| Job Offer | – Need not require a job offer |
| Level of Education | – Have at least the equivalent of a Canadian high school diploma.
– Have an Educational Credentials Assessment (ECA), if their education was obtained outside of Canada. |
| Connection to Province | Not Required |
| Work Experience | – At least 2 years of experience of actively managing owning a business with 25% ownership in the last 5 Years, or
– Have either more than 5 years of experience as a senior business manager role in the last 10 Years. |
| Language Proficiency | – Have a minimum Canadian Language Benchmark (CLB) level 5 in English or French. |
| Net Worth | – Have their personal net worth of at least $600,000 CAD
– Have this Net-worth in unencumbered net business and personal assets, readily be transfer to Canada. |
| Investment Requirement | – Invest at least $200,000 CAD to establish a business in the Newfoundland and Labrador with minimum ownership of 33.33%, or
– Minimum $1 Million in equity investment. – Create minimum full-time job for local permanent resident or Canadian Citizen. – Demonstrate that their business is for profit entity with primary purpose of earning profits. |
| Business Plan | – Provide a business plan with supporting financial documentation verified by a third party professional. |
| Business Performance Agreement | – Enter into a Business Performance Agreement with information to establish or purchase a business in NL. |
Application Procedure
- Submit EOI via PNP’s online service during specific periods.
- EOIs evaluated and ranked.
- Competitive candidates receive invitations to apply.
- Selected candidates submit official application.
- Include supporting documentation from the EOI.
- Pay CAD $1,000 application fee.
- Provide Audit Report and Business Establishment Plan.
- Travel for in-person interview in Newfoundland and Labrador.
- Assess candidate’s suitability for the program.
- Sign agreement outlining commitments to establish or purchase a business.
- Receive work permit authorization letter.
- Apply for a Canadian work permit.
- Relocate to Newfoundland and Labrador.
- Launch the business as per the agreement.
- Apply to the province for an official Provincial Nomination.
- With provincial nomination, apply to IRCC for Canadian permanent resident status.
Note: “The information herein is provided for informational purposes only and should not be construed as legal advice”