NLPNP- International Entrepreneur Category
What is NLPNP International Entrepreneur Category?
The NLPNP Skilled Worker Category is for experienced business owners or senior business managers who wish to permanently reside in Newfoundland and Labrador (NL). They must start a new business or buy an existing business and must actively participate in the day-to-day management of the business. After operating the business for at least one continuous year and fulfilling certain criteria, the international entrepreneur may be nominated for permanent resident status. The nominees can apply for permanent residence to the Government of Canada – IRCC.
What are the requirements of the NLPNP International Entrepreneur Category?
The Principal Applicant Criteria:
- Between 21 and 59 of age.
- Provide a business plan with supporting financial documentation verified by a recognized third-party professional (applicants are solely responsible for payment of associated fees related to obtaining these documents).
- Have a minimum of Canadian high school diploma or equivalent foreign credential verified by an Education Credential Assessment (ECA), taken in the last five years prior to the date the Expression of Interest (EOI) is submitted.
- Want to live permanently in NL while owning and actively managing a local business that has the potential to create significant economic benefit to NL.
- Have at least $600,000 CAD in unencumbered net business and personal assets that can readily be transferred to Canada.
- Be able to invest at least $200,000 CAD of their own money to establish a business in the NL with a minimum ownership of 33.3 per cent, or $1 million in equity investment.
- Demonstrate ability to create at least one full-time equivalent job for the local population (permanent residents and Canadian citizens).
- Demonstrate that the business is a for-profit entity with the primary purpose of earning profits through the sale of goods and/or services.
- Have at least two years’ experience actively managing and owning a business (25 per cent minimum ownership) in the last five years OR five or more years’ experience in a senior business management role in the last ten years.
- Have a score of at least CLB5 in speaking, listening, reading, and writing in English or French.
- All prospective applicants applying from outside NL must conduct an initial exploratory visit to NL prior to submitting an official application.
- Complete an online Expression of Interest (EOI).
- Receive an Invitation to Apply (ITA) from the Office of Immigration and Multiculturalism.
Note: Applicants intending to support regional economic development or focus on high-demand industries or sectors (e.g. Agriculture, Aquaculture, Technology, Natural Resources) will receive priority consideration.
One application is allowed to have up to 10 partners (i.e, the primary applicant and nine additional partners). Both international and Canadian citizens or permanent residents can be partners on the application.
Note: Those seeking permanent residency through the International Graduate Entrepreneur category cannot be partners under the International Entrepreneur category.
The Proposed Business Criteria:
Additional Criteria for Starting a New Business
- Each applicant seeking permanent residency through this category must either:
- invest $200,000 (CDN) and have at least one-third ownership of the company or
- must invest $1,000,000 or more.
- Participating partners are actively involved in the day-to-day management of the proposed business.
- The associated partner who is seeking permanent residency through the same business are responsible for submitting the same documentation as the principal applicant.
- The applicant must provide active and on-going participation in the day-to-day management and direction of the business.
- Businesses must meet the legal requirements of the community in which they operate.
- The business must be a for-profit entity with the primary purpose of earning profits through the sale of goods and/or services.
- The business must be considered a “permanent establishment” as defined under subsection 400(2) of the Canadian Income Tax Regulations, 1985.
- The business is liable to pay income tax on taxable income earned as a result of a “permanent establishment” in NL, irrespective of income or other taxes which may also be payable in other jurisdictions as a result of income earned or other business activity.
- The business must be actively managed by the applicant from the place of business in NL. The business must not be managed from another location in NL or from another Canadian province or territory or other country.
- The business must have the potential to create significant economic benefit to NL. For example:
- Increasing value added manufacturing or processing, exports, destination tourism, research and development, and technology commercialization.
- Developing innovative approaches to traditional businesses.
- Transferring technology and specialized knowledge to NL; or
- Providing products or services to an under-served local or regional market.
- The business must not on the Ineligible Business list of NL. For more details, please contact Springwind Immigration Consulting Service at 647-748-0188.
- If starting a new business, the applicant must create at least one full-time job for a Canadian citizen or permanent resident in NL. The job position must:
- not be filled by dependents or relatives of the applicant.
- be relevant and directly related to the applicant’s business.
- meet the prevailing wage levels.
- The business must have been in continuous operation by the same owner for the previous five years.
- All applicants purchasing or partnering in an existing business must complete an exploratory visit to meet the current owner(s) if the applicant is applying from outside of the province.
- Applicants must provide evidence that reasonable efforts were taken to establish a fair market value for the business.
- The business must be actively in operation and not in receivership.
- Applicants must offer employment on similar terms and conditions to existing staff, including maintaining existing wages and employment terms.
Additional Criteria for Purchasing an Existing Business
You must provide various documents to support your application. Springwind Immigration professional team will help you to complete the complicated application process. You can reach us by ways of:
Phone: 1-647-869-6678 or 1-647-748-0188