International Entrepreneur

Introduction

The entrepreneurs who got selected under the Newfoundland and Labrador Provincial Nominee Program (NLPNP) will receive a Temporary Work Permit to begin and run their business. This NLPNP has been operated since 1999. Similar to PNP’s, the main aim of the NLPNP program is to attract many immigrants to the province to meet labor market and economic demands. This program focuses on the entrepreneurs, skilled workers, and graduates who have skills, education, and experience to achieve in the province of Atlantic.

Under this NLPNP The International Entrepreneur program, the applicants must have at least one year of experience in operating and owning a business in Newfoundland and Labrador before seeking a nomination from the province. To apply for this program, the starting step is submission of an Expression of Interest (EOI) to the Office of Multiculturalism and Immigration in Newfoundland.

What is an International Entrepreneur?

The NLPNP international Entrepreneur category is created for experienced entrepreneurs or owners or senior business managers who aim to reside in Newfoundland and Labrador permanently. The experienced business owner or the senior manager of a business should purchase an existing business or start a new business in Newfoundland and Labrador, and they need to actively take part in running the company daily. Once the business is continuously operated for one year, then the international entrepreneur could be considered for the status of permanent resident.

International Entrepreneur Program Eligibility

The eligibility criteria for Newfoundland and Labrador Provincial Nominee Program (NLPNP) International Entrepreneur are discussed below.

Eligibility Requirements for Applicants

  • To apply for this international entrepreneur category, the applicant must be between 21 and 59 years old.
  • The Candidates need to have proof that they can speak, write, read, and listen in either French or English at a Canadian Language Benchmark (CLB) level of 5. They can also take language tests like IELTS (English) or TEF (French) to prove themselves.
  • The applicants must have a high school diploma from Canada or they should have an equivalent foreign education verified by an Education Credential Assessment.
  • They ought to either have at least 2 years of experience in owning a business or managing a business with a minimum ownership of 25 % in the previous 5 years, or they must have 5 years of experience in a senior management role in the previous 10 years.
  • The candidates must have a minimum asset of CAD $ 600,000 in personal and company assets that are transferable to Labrador and Newfoundland.
  • They must be able to make investments of $ 200,000 CAD of their own money to begin or to purchase a business in Newfoundland and Labrador. This business needs to at least have 33.3% of your ownership or you can make an investment of $1 million CAD in equity.
  • The applicant must be able to establish at least one full-time position in the province for a Canadian citizen or permanent resident.
  • The applicant should be able to establish at least one full-time position in the province for a Canadian citizen or permanent resident.

Eligibility Requirements for Business

  • The candidates must be able to be involved in managing and running their business in Newfoundland and Labrador.
  • The main objective of the business must be to make profits by selling goods and services.
  • The business should follow all legal rules and regulations in the community where it operates.
  • Newfoundland and Labrador should see substantial economic gains as a result of your enterprise.
  • The company must be managed by people from Newfoundland and Labrador, not from somewhere else.

Benefits of International Entrepreneur Program

The main advantages of the International Entrepreneur program are:

Quicker Immigration Procedure:

Once the Applicants get nominated by the Newfoundland and Labrador Provincial Nominee Program (NLPNP), then they can increase the speed of their process for becoming a Canadian permanent resident.

Bonus Points for Express Entry:

If nominated, the applicants will receive additional points in the Express Entry system, which can boost their chances of receiving an invitation to apply for permanent residency.

Short-Term Work Permit:

After getting a nomination, the applicants will receive an international Entrepreneur Approval Letter. This letter will permit you to apply for a temporary work permit via Immigration, Refugees and Citizenship Canada (IRCC). The temporary work permit will allow you to start and operate your business.

Set Up and Manage Your Company:

The applicants can migrate to Newfoundland and Labrador with the help of a temporary work permit, and you can begin and run your business there. After you receive the letter of approval, you have six months to arrive.

Opportunities for Business:

The program offers commercial opportunities in production, marketing, sales, outsourcing, and other areas, which are opportunities for entrepreneurs to expand their companies worldwide.

Unqualified Business And Applicants

The unqualified Applicants are:

  1. The applicants who live illegally in their country are ineligible under the NLPNP International Entrepreneur category.
  2. Individuals with the removal order issued against them by IRCC or the Canada Border Services Agency (CBSA) are not eligible.
  3. People who are banned or prohibited from Canada are unqualified.
  4. If anyone wants to only invest in a business in Newfoundland and Labrador, but is not willing to actively involve in running the business, or who does not want to be involved in the day management of the business.
  5. Individuals who are without legal status and need to fix their status before applying are ineligible.

The unqualified businesses are:

  1. Businesses that operate away from Newfoundland and Labrador or Canada are not eligible.
  2. Companies that concentrate in leasing, investing in, or renting out real estate, unless the applicant has proof that the enterprise will significantly benefit the province.
  3. The companies that need a professional certificate or license (such as physicians or attorneys), unless their operations benefit the province, are not qualified.
  4. The Payday loan services, money-changing, or pawn shops business is not qualified.
  5. Taxi service operating businesses are unqualified, and companies that have been created mainly to generate passive income—such as dividends or interest—without requiring active management.
  6. Any enterprise that could damage Newfoundland and Labrador's or its government's reputation.

How to Apply NLPNP International Entrepreneur

The NLPNP International Entrepreneur category application process is as follows:

  1. Eligibility Checking:

    Applicants must first check whether they meet the program's requirements or not. Some of the factors to check are language skills, business experience, and financial ability.

  2. Submission of an Expression of Interest (EOI):

    Once the applicant is qualified, they should submit an EOI. This informs the program that you're interested in applying. You will get a score based on your EOI.

  3. Get an ITA (Invitation to Apply):

    If the applicant scores high marks, they may receive an invitation to apply for the program, which is called an ITA.

  4. Submission of Application:

    After getting the ITA, the applicant can submit their full application, including details about their personal background, business plan, and financial status.

  5. Application Assessment:

    After reviewing your application, your authorities will determine whether you are entitled to proceed. They will assess your business idea's potential for growth and fit with the program's goals.

  6. Interview if necessary:

    The Candidates may be asked to attend an interview, sometimes to make further discussions of the business ideas.

  7. Choosing Permanent Residency:

    Once the application is approved, the applicants will receive a nomination, which may support their application for permanent residency in Canada.

Why Choose Croyez Immigration?

Croyez Immigration is one of the top trusted immigration consultants for Candidates who look to get through a complicated procedure for NLPNP International Entrepreneur. Throughout the whole application process, our team's knowledgeable advisers offer direction and assistance. We assure you that we’ll provide complete support and guidance during all the stages of the application process. Here are the reasons to choose Croyez Immigration to be your supportive partner.

  • Our visa agents understand the complexities of the NLPNP International Entrepreneur category and help you through the process based on your profile and qualification.
  • We are committed to making it easy for people to get permanent residence in Canada. To start your trip now and enjoy, get in contact with Croyez Immigration.
  • We provide customized solutions based on the candidate's profile, and we offer personalized guidance for every situation of the applicants.
  • Croyez Immigration provides a complete service starting from the job offer to submission of your application.

The NLPNP International Entrepreneur supplies business experience and financial resources to foreign entrepreneurs to move to Newfoundland and Labrador by actively starting and managing a business. Croyez Immigration assists the applicants to go through the process to become an international Entrepreneur.

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