Newfoundland and Labrador International Entrepreneur Category

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The International Entrepreneur category is one of the streams offered by the Newfoundland and Labrador Provincial Nominee Program (NLPNP). This category is designed for foreign nationals who wish to start or acquire a business in Newfoundland and Labrador.

To be eligible for this category, applicants must have a minimum net worth of $600,000 CAD and be willing to invest a minimum of $200,000 CAD in the proposed business. Additionally, applicants must demonstrate that their business will create significant economic benefits for the province, including job creation and revenue generation.

Applicants must also submit a detailed business plan outlining their proposed business and how it will contribute to the province’s economy. Successful applicants will receive a letter of support from the NLPNP, which will enable them to apply for a work permit and eventually permanent residency in Canada.

Eligibility criteria

Criterion	Minimum Requirement
Express Entry Profile	No
Connection to Province	No
Job Offer	No
Net business and personal assets	At least $600,000 CAD
Investment	At least $200,000 CAD of their own money
Minimum ownership of the business	33.3 percent, or $1 million in equity investment
Ability to create jobs	At least one full-time equivalent job for permanent residents and Canadian citizens
Purpose of business	A for-profit entity with the primary purpose of earning profits through the sale of goods and/or services;
Education	Minimum Canadian high school diploma or equivalent foreign credential
Language	CLB – 5 in English or French
Work experience	Have at least two years of experience in actively managing and owning a business in the last five years OR, 5 or more years of experience in a senior business management role in the last ten years
Age	Between 21 to 59 years
Intention to reside	The applicant must have the intention to reside in the province

The applicant must further

Provide a business plan with supporting financial documentation verified by a recognized third-party professional.
Complete an online Expression of Interest (EOI); and
Receive an Invitation to Apply
Priority will be given to applicants that aim to assist regional economic growth or focus on high-demand businesses or sectors (e.g., agriculture, aquaculture, technology, natural resources).
Exploratory visit – Before filing an official application all potential International Entrepreneur applicants from outside the province must undergo an initial exploratory visit to Newfoundland and Labrador.

There are two streams within the International Entrepreneur category

Starting a New Business and
Purchasing an Existing Business.

In addition to the criteria listed above, each stream has its own set of criteria.

1. Starting a New Business in Newfoundland and Labrador

When starting a new business in Newfoundland and Labrador, the applicant must generate at least one full-time equivalent job opportunity for a Canadian citizen or permanent resident. This position must:

Be in addition to any post filled by an authorized candidate. (jobs created for or filled by dependents or relatives of the applicant are not eligible)
Be pertinent to and directly tied to the applicant’s company; and
Meet the prevailing wage levels.

2. Purchasing an Existing Business

When purchasing an existing business in Newfoundland and Labrador,

The business must have been in continuous operation by the same owner for the previous five (5) years;
If the applicant is submitting an application from outside the province, they must make an exploratory visit to meet the present owner of the firm they plan to buy or partner in;
The applicants must show that reasonable efforts were made to determine the business’s fair market value;
The business must be actively in operation and not in receivership; and
Applicants must offer employment on comparable terms and circumstances to current employees, including keeping the same pay and benefits.

Who is Ineligible to apply for the International Entrepreneur Category?

Individuals living illegally in their country of residence;
Persons who have removal orders issued against them by IRCC or Canada Border Services Agency;
Persons who are prohibited from entering Canada;
A passive investor (someone who plans to make investments in a Newfoundland and Labrador company but who will have little to no participation in the day-to-day administration of the company); and
An individual who does not have status

What are the Ineligible Businesses under the International Entrepreneur Category?

Remote businesses
Property rental, investment, and leasing activities;
Real estate construction/development/brokerage, insurance brokerage or business brokerage;
Professional services or self-employed business operators requiring licensing or accreditation;
Pay day loan, cheque cashing, money changing, and cash machines;
Pawnbrokers;
Taxi companies;
Home-based businesses;
Businesses involved in the production, distribution, or sale of pornographic or sexually explicit products or services;
Not-for-profit businesses;
Investments into a business operated primarily for the purposes of deriving passive investment income;
Businesses operating primarily for the purpose of deriving investment income such as interest, dividends, or capital gains;
Business that will compensate employees solely on the basis of commission;
Any other type of business that by association could tend to bring OIM, NLPNP, or the Government of Newfoundland and Labrador into disrepute.

How to apply

1. Expression of Interest (EOI)

The Expression of Interest (EOI) mechanism is used by this program to choose candidates. An EOI must be submitted using the PNP’s online portal in order for an applicant to be taken into consideration for the program. The most competitive candidates will be requested to apply to the program after being rated against one another based on their EOIs.

2. Invitation to Apply

Candidates must submit a formal application for nomination to the province after obtaining an Invitation to Apply (ITA). The information in the original EOI is supported by the documentation contained in this application.

3. Audit Report and a Business Establishment Plan

All candidates must also submit an Audit Report and a Business Establishment Plan detailing their entrepreneurial goals, as well as pay an application fee of $1,000 CAD.

4. Interview

If a candidate’s application is accepted as complete, they must fly to Newfoundland and Labrador to take part in a face-to-face interview.

5. Business Performance Agreement

The candidate must sign a Business Performance Agreement outlining their pledges to start or acquire a business in the province if the interview goes well.

6. Work visa

If an application is accepted, the applicant will get a letter authorizing them to apply for a work visa in Canada. In order to start their firm the applicant must relocate to Newfoundland and Labrador after they get a work visa.

7. Apply for PNP

If an application is accepted, the applicant will get a letter authorizing them to apply for a work visa in Canada. In order to start their firm the applicant must relocate to Newfoundland and Labrador after they get a work visa.

8. Apply for Permanent Residency

An applicant may submit an application to IRCC for Canadian permanent residence status after receiving an official nomination.