NEWFOUNDLAND AND LABRADOR ENTREPRENEUR IMMIGRATION PROGRAM
The Newfoundland Entrepreneur Immigration Program helps the province’s economy grow and thrive while also giving qualified business owners and entrepreneurs a chance to get permanent residency in Canada.
For the economic, social, cultural, and demographic development of Newfoundland and Labrador, immigration is a significant opportunity. Newfoundland and Labrador has the lowest rate of fertility in Canada, and the highest average age, and it is predicted that by 2025, the working-age population would have decreased by 10%, leaving 35,000 fewer individuals in the province’s labor force. In order to adapt to the shifting demands of our economy and society, the Government of Newfoundland and Labrador is adopting a cooperative strategy.
WHAT IS THE NEWFOUNDLAND ENTREPRENEUR IMMIGRATION PROGRAM?
For seasoned business owners or senior managers who desire to start a new life and advance their career in business in Newfoundland and Labrador, there is the Newfoundland Entrepreneur immigration stream.
Those who are accepted must launch a new company in Newfoundland or purchase an existing one, and they must actively participate in its daily operations. The business owner may be nominated for permanent residence status after running the company for at least a year.
Candidates who want to immigrate through Newfoundland entrepreneur immigration must show that they have a minimum net worth of CAD $600,000 and a minimum investment in a Newfoundland and Labrador business of CAD $200,000. Additionally, they must have at least two years of recent senior management or business ownership experience within the past five years.
BUSINESS INVESTOR STREAMS FOR NEWFOUNDLAND ENTREPRENEUR IMMIGRATION
With the International Entrepreneur and International Graduate Entrepreneur streams of the Provincial Nominee Program, Newfoundland and Labrador offer potential immigrants, with in-demand skills and experience in business management, the chance to join this eastern province’s expanding workforce for a lucrative life prospect.
INTERNATIONAL ENTREPRENEUR CATEGORY
International Entrepreneur Category is intended for international emigrants with prior business ownership and management experience who want to make an investment in buying and running a company in Newfoundland and Labrador. Candidates must have a sizable personal net worth and proven business management experience.
REQUIREMENTS OF INTERNATIONAL ENTREPRENEUR CATEGORY
| 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 a senior business manager |
| Investment Requirement | Net Worth: $600,000 CADInvestment: $200,000 CAD |
ELIGIBILITY CRITERIA FOR INTERNATIONAL ENTREPRENEUR CATEGORY
Requirement of Education
Candidates who have studied in Canada must have a high school education. However, International emigrants, who have studied outside of Canada, have to prove that their education is also equal to Canada’s high-school level. In order to prove their qualification, candidates need to get Educational Credentials Assessment for any of the authorized institutes approved by IRCC.
You may contact any of these organizations:
- World Education System (WES)
- International Credential Assessment Service of Canada (ICAS)
- International Qualifications Assessment Service (IQAS)
- Comparative Education Service (CES)
Language Requirements
For demonstrating English language competency, two authorized language tests are acceptable, and for demonstrating French language proficiency, two approved language tests are accepted.
Please be aware that the language test results typically need to be presented within two years after the test date when submitting a request for citizenship. A test will probably need to be repeated and new results submitted if it was done more than two years ago before filing an application.
- International English Language Testing System (IELTS)
- Canadian English Language Proficiency Index Program (CELPIP)
- Test d’évaluation de français (TEF)
- Test de connaissance du français pour le Canada (TCF Canada)
Requirement of Work Experience
Candidates must possess the necessary work history to successfully launch and operate a company in Newfoundland and Labrador. This can be proven by having more than five (5) years of experience as a senior business manager or at least two (2) years of experience as a working business owner-manager.
Requirements of Investment
Candidates must show they have the financial resources to invest in and launch a company in Newfoundland and Labrador. Therefore, applicants must show they have an individual net worth of at least $600,000 CAD and invest at least $200,000 CAD in any new or existing company that they acquire.
INTERNATIONAL GRADUATE ENTREPRENEUR CATEGORY
International Graduate Entrepreneur Category is intended for emigrants who have completed a two-year or longer post-secondary program in Newfoundland and Labrador as well as those having business ownership and management experience in the province.
REQUIREMENTS OF INTERNATIONAL GRADUATE ENTREPRENEUR CATEGORY
| Express Entry Profile | No |
| Connection to Province | Education ANDWork Experience |
| Job Offer | No |
| Language Proficiency | CLB 7 |
| Level of Education | 2-year post-secondary program |
| Work Experience | 1 year as business owner and manager |
| Investment Requirement | None |
ELIGIBILITY CRITERIA FOR INTERNATIONAL GRADUATE ENTREPRENEUR CATEGORY
Language Proficiency Requirements
The minimum CLB level for English or French required to apply for a Canada visa through Eligibility Criteria for International Graduate Entrepreneur Category is Band 7.
Required Level of Education
Candidates must hold a post-secondary degree that is at least two years long. The College of the North Atlantic or Memorial University must have been the location of the on-site completion of this certification.
You must have obtained the education within two years of submitting an expression of Interest.
Require a Connection to Newfoundland and Labrador Province
You must have obtained the education within two years of submitting an expression of Interest.
The applicants must have finished a post-secondary course of study in Newfoundland and Labrador that lasted at least two years. The candidate must also have at least a year’s worth of experience running an organization in the province.
Required Work Experience
You must have obtained the education within two years of submitting an expression of Interest.
Candidates must have at least one year of experience actively running and controlling a Newfoundland and Labrador-based organization of which they have at least a third ownership.
OBTAIN 67 QUALIFYING POINTS FOR NEWFOUNDLAND AND LABRADOR IMMIGRATION
The NLNP Express Entry for Skilled Workers Program’s eligibility conditions must be met, and candidates must also get an entry-level qualifying score of 67 out of 100 on the Point Assessment Grid.
| Factor | Maximum Points |
| Education | 28 |
| Language Proficiency | 27 |
| Age | 12 |
| Work Experience | 20 |
| Connection to Labour Market and Adaptability | 13 |
| Maximum Score | 100 |
HOW TO APPLY FOR THE MANITOBA ENTREPRENEUR PROGRAM?
You must have obtained the education within two years of submitting an expression of Interest.
The Expression of Interest (EOI) system is used by the Newfoundland Entrepreneur immigration program to choose applicants.
An EOI must be submitted using the PNP’s online portal in order for a candidate to be taken into consideration for the program. Please be aware that during the year, the EOI service only operates for sporadic times.
The most competitive candidates will be asked to apply to the program after being evaluated on their scores in the comprehensive ranking system.
- Make sure you are eligible
- Submit an Expression of Interest
- Wait for an Invitation to Apply
- Submit an application for nomination
- Submit required documents
- Payment of Fees
- Provide an Audit Report
- Provide an Establishment Plan
- Attend an Interview Session
- Sign a Business Performance Agreement
- Obtain a Work Permit
- Establish a business
- Purchase a company in Newfoundland and Labrador
WHAT ARE THE MAJOR BENEFITS OF THE MANITOBA ENTREPRENEUR PROGRAM?
There are several benefits of obtaining permanent residency through the Newfoundland entrepreneur immigration pathway, including:
A Pathway to permanent residency
The Newfoundland entrepreneur immigration Pathway is a route to permanent residency in Canada, which means that successful applicants can live and work in Canada indefinitely.
High-demand labor market vacancies
Immigrants both create new jobs and fill positions in the labor market that are in great demand. In Newfoundland and Labrador, immigrant-owned companies offer locals useful jobs and high-quality products and services in sectors like information technology, hospitality, food and lodging, healthcare, and education.
New approaches to solving longstanding challenges.
Working immigrants make a significant beneficial impact on the provincial tax money needed to sustain social and economic government initiatives, which helps limit public service prices from growing. Immigrants provide new perspectives on enduring problems as well as diverse life experiences to the communities and workplaces where they settle.
CONCLUSION
This article has provided every single detail related to the Newfoundland entrepreneur immigration. You may find the eligibility criteria, benefits, or the process of submitting an application. If there is something that we have missed, or you need to know in order to get Canada PR, you may contact Basics of Immigration, BOI, the leading immigration consultancy in Delhi.
WHY ALWAYS CONSIDER BASICS OF IMMIGRATION?
- Expert Visa counselors provide Step-by-step guidance through a secure, online process.
- Apt evaluation of credentials and faster visa processing.
- Identifying all potential hazards and roadblocks in securing a visa.
- Assistance with documentation, immigration rules, citizenship, and border control procedures.
- Multiple case assessment for better conflict resolution.
- Designated process managers to provide personalized guidance.
Just like the basics of anything act as “building blocks” forming a strong foundation for constructing complex structures. The Basics of Immigration serve as the foundational elements of moving abroad, for any aspiring immigrant.