International Entrepreneur Stream
This stream is exclusively created for businessmen and senior business managers who have profound experience in running a business in their native successfully and intended to start a new venture or run an existing venture that belongs to the province by purchasing it. The concerned applicant must involve in day-day activities of the business and must show progress in the business. Based upon the improvement of the business the provincial government would provide permanent residence to the concerned businessman where they need to come across various elgibility criteria.
Eligibility Criteria for International Entrepreneur Stream
- The applicant’s age must not be less than 21years or more than 59 years.
- The applicant must submit a proper and well-structured business plan accompanied with financial documents that need to be submitted to the provincial government for assesment.
- The candidate must hold a minimum educational qualification equal to the Canadian highschool diploma or degree acquired not more than five years ago and the same will be assessed by the board of ECA.
- The candidate must live within the nearby vicinity of the firm located in New foundland territory and must actively engage in its day-to-day business activities that must lead to active contribution to the province economic benefit.
- Must hold a minimum of 6,00,000 CAD as net worth to be invested readily into the business.
- Of the net worth the candidate must provide atleast 2,00,000 CAD as an investment for their business with holding 33.3% share.
- The business must be capable of generating full-time employment for ateast one Canadian citizen or permanent resident.
- Provide enough proof to the concerned immigrant board and provincial government that the business is ventured as a profit seeking one with the intention of generating profit through the sales of goods/products/services.
- The applying candidate must have either minimum two years of business ownership with 25% share or a minimum five years of experience as a senior business manager within the last 10 years.
- The candidate must score a minimum of 5 in their language test conducted by the Canadian Language Benchmark (CLB) either in IELTS (International English Language Testing System) for English or Test d’evaluation de francais (TEF) for French.
- The candidate must have submitted the Expression Of Interest (EOI) form and get it verified online and then must have received an invite letter from the procvincial government to apply for this PNP stream.
Additional Eligibility Criteria to Start New Business
- The business status of an applicant must be above the level that has been mentioned or denoted by them and their dependent business or relative who travels with them are not considered to be the key person to project the business.
- The new business that is about to get started by the applicant must be 100% relevant to their field in which they have prior experience and currently running a firm.
- The applicant businessman must be highly aware of the wage levels in the province and must be capable enought to provide it for the hired employees.
Additional Eligibility Criteria to Purchase an Existing Business
- The purchased business must have been under the control of same owner previously for five years.
- Even if the applicant belongs to Canada, but an outsider to the province, then still they have to visit the current owner of the business from whom they are about to buy or partner the existing business.
- Applying candidate must submit proof of evidence that denotes required amount ot efforts were taken to establish a strong market presence for this existing business.
- The business must be actively in operation when it gets received by the applicant.
- The applicant must hold the existing staff and provide them with the same salary even the business is been purchased.
Who are all not eligible to apply?
- Individuals who reside or live illegally in the current nation from which they apply.
- A person who got the removal order form IRCC or Canad Board Services Agency.
- A person who gets the charge of entry prohbition to Canada.
- A passive investor who just invest in the business but not take initiative role in the day-day business activities.
- Individual who doens’t get categorized under a status.
Ineligible Businesses under International Entrepreneur Stream
- Any kind of business which gets remotely operated from either part of Canada.
- Any business that relats to property rental, leasing and investment.
- Insurance brokerage, brokerage, Property business, construction and development business are strictly prohibited unless they are proved to be a high contributing factor.
- Any professional services or self-employed business practices.
- Pay day loan, cheque cashing, money lending, Pawn brokers and Tax Companies.
- Work from home businesses are prohibited unless and until they deliver a huge contribution to the province.
- Business that involves production or distribution of pornography or any other sexually explicit content.
- Investment which are made only to derive passive income for temproary period.
- Businesses that provides only compensation or commission to the working employees.
- Businesses that operates only to generate interest or any other related activities.
- Any kind of business that brings in disrespect or disreputation to the provincial government of New Foundland and Labrador.
International Graduate Entrepreneur Stream
The international Graduate Entrepreneur Stream can be availed by the graduates who are currently pursuing their graudation either in Memorial University or College of North Atlantic in the province and already been a part of the business that runs within the provincial territory of Newfoundland. To avail the permanent residential status under this category, the graduates need to fulfill the below mentioned eligibility criteria:
Eligibility Criteria for International Graduate Entrepreneur Stream
- The applying graduate must have completed 21 years.
- The applicant must submit a well-structured business plan accompanied with financial documents that need to be submitted to the provincial government for assesment.
- The applicant must have completed a minimum two-years of full time degree or diploma in the Memorial University or College of North Atlantic and that must comprise with the immediate two years of submission of the EOI form.
- Must hold a valid post-graduate work permit and show the intention of permanently live in the province to take care of the day to day business activities.
- Must have minimum one year of work experience in managing a business successfully with holding a 33 percent of share.
- The business must be capable of generating full-time employment for ateast one localite or permanent resident.
- Must prove that the business is ventured as a profit seeking one with the intention of generating profit through the sales of goods/products/services.
- Must have scored 7 or above in the language eligibility test conducted under CLB written based on IELTS or TEF.
- Must submit a completely filled EOI form and have received invite notification from the provincial government of Newfoundland.
Additional Eligibility Criteria to Start a New Business
- The applicant’s business status must be above the level that has been mentioned or denoted by them and their dependent business or relative who travels with them are not considered to be the key person to project the business.
- The new venture that is about to get started by the applicant must be 100% relevant to their field in which they have prior experience and currently running a firm.
- The applicant businessman must be highly aware of the wage levels in the province and must be capable enought to provide it for the hired employees.
Additional Eligibility Criteria in Purchasing an Existing Business
- The purchased business must have been under the control of same owner previously for five years.
- Applying must actively involve in establishing a strong market presence for this existing business.
- The business must be actively in operation when it is received by the applicant.
- The applicant must hold all the existing staff and provide them with the same salary even the business is been purchased.
Applicants who are Ineligible for International Graduate Entrepreneur Stream
- Individuals who stay or live illegally in the current nation from which they apply.
- A person who gets the order of removal from IRCC or Canad Board Services Agency.
- A person who gets prohbited to Canada.
- A businessman who just invest in the business and not takes part in day-day business activities.
- Businessman who doesn’t get a proper status according to the immigration board.
Businesses which are ineligible to carry out?
- Business which gets remotely operated from either part of Canada.
- Any kind of business that relats to property rental, leasing and investment.
- Insurance brokerage, brokerage, Property business, construction and development business are strictly prohibited unless they got proved to be a high contributing factor.
- Any professional services or self-employed business practices are not allowed.
- Pay day loan, cheque cashing, money lending, Pawn brokers and Tax Companies are not allowed to carryon.
- Work from home businesses are prohibited except the one which delivers exponential benefits.
- Businesses involved in production or distribution of pornography or any other sexually explicit content.
- Investment which are made only to derive out passive income temproarily.
- Businesses that provides only commission to the working employees.
- Businesses that generates only interest or any other related activities.
- Any kind of business that brings disrespect to the provincial government of NewFoundland and Labrador.
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