The Newfoundland International Entrepreneur Stream category caters to foreign business owners or those with senior business managerial experience. Suitable candidates must intend to start or acquire a business in the province and participate in managing it on an ongoing basis. Entrepreneur candidates who operate their business successfully for one year will receive a nomination to apply for permanent residence.
There are two sub-categories within the International Entrepreneur Category – Starting a New Business and Purchasing an Existing Business. Each sub-category has unique eligibility requirements. This guide outlines the general eligibility criteria for NL PNP International Entrepreneur Category.
Prospective entrepreneur applicants must meet the following requirements to be eligible for the EI Regional Pilot:
Foreign entrepreneurs can receive additional Entrepreneur Grid points if they have:
Relatives who reside in Newfoundland & Labrador.
Prior work experience in Newfoundland & Labrador.
Prospective entrepreneurial candidates can apply for the NL PNP International Entrepreneur Category using the following steps:
Research & Preparation
Applying for Permanent Residence
1. Research & Preparation
Candidates should first determine if they meet the eligibility requirements stated above. They should also complete their Newfoundland & Labrador exploratory visit during this stage. Applicants can then calculate how many points they are eligible for under the Entrepreneur Points Grid.
Next, candidates can fill out their Expression of Interest (EOI) and submit it at www.nlimmigration.ca. Applicants should ensure all the information they provide in their EOI is accurate and up to date. They will then be placed in a pool of candidates and be ranked depending on the number of points they have.
Successful entrepreneur candidates will then receive an Invitation to Apply (ITA) from the Office of Immigration and Multiculturalism (OIM).
They will then have 20 days to select a Net Worth Verifier designated by OIM and notify them.
Candidates must submit their completed application form, supporting documents, and their business establishment plan within 90 days of receiving their ITA.
Verification Report within 180 days of receiving their ITA.
The OIM will then review the candidate’s application.
They will also ask the applicant to attend an interview in the province.
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4. Application Approval
The OIM will send successful applicants a Business Performance Agreement (BPA) that details the terms and conditions for establishing and operating their business. The candidate must sign the BPA and send it back to the OIM within 15 days.
OIM will then issue the candidate their International Entrepreneur Category Approval Letter and special instructions to apply for a work permit. Applicants must apply for their work permit within 2 months of receiving their approval letter.
5. Post-Landing Process
Candidates are expected to come to Newfoundland & Labrador with their work permit within 6 months of receiving their approval letter.
They must then start operating their business within 6 months of their approval in the province.
Entrepreneurs are required to meet with the OIM’s officials within 30 days of arriving and discuss their BPA terms and conditions.
They can apply for a provincial nomination once they have fulfilled the terms and conditions in this agreement and have operated their business for one year.
To apply for a nomination, candidates must fill out a Nomination Request Form.
They must also submit a Review Engagement Report and a Special Purpose Report along with this form.
6. Applying for Permanent Residence
Successful candidates who receive a provincial nomination certificate can use it to apply for permanent residence with IRCC. They should also ensure they maintain their legal status in Canada and possess a valid work permit until IRCC makes a decision regarding their application.
How ELAAR can help you?
Prospective foreign entrepreneurs who wish to apply for the NL PNP International Entrepreneur Category should get in touch with us. Our team of Regulated Immigration Consultants can help optimize your application and business proposal to maximize your chances of getting permanent residence.
Setup Your Business in Newfoundland and Labrador
Immigrate to Newfoundland and Labrador as an entrepreneur or investor through NL PNP International Entrepreneur Category.