The NLPNP International Entrepreneur stream is one of the two entrepreneurial streams operated under Newfoundland and Labrador Provincial Nominee Program (NLPNP). This stream works in the favor of business owners with years of experience and senior business managers as it assists them in establishing a business in the province.
If they qualify for the stream and have the intention to live in the province, they may be able to immigrate to Newfoundland and Labrador through the International Entrepreneur stream.
This stream allows business owners and managers to establish a new business or buy an existing one to run it in the province. Once they have handled the business’s daily activities for a year, they might become eligible to apply for a nomination.
In this blog, we will discuss how you can apply for a nomination through the NLPNP International Entrepreneur stream, and what makes you eligible for the same.
Eligibility Requirements of the NLPNP International Entrepreneur Category
The eligibility criteria to meet to apply to the NLPNP International Entrepreneur Category are as follows:
- The applicant must actively participate in the daily management and operations of the business
- The business must comply with all legal requirements of the community
- It must be a for-profit entity, primarily focused on generating profit through the sale of goods or services
- The business must qualify as a permanent establishment
- It is required to pay income tax on income earned through its permanent establishment
- The business must be actively managed within the province
- It should demonstrate the potential to create significant economic benefits for the province
Ineligible Businesses for NLPNP International Entrepreneur Stream
Some businesses are not eligible under the International Entrepreneur category. These include:
- Businesses operated remotely from another Canadian province or country
- Property rental, investment, and leasing businesses
- Real estate construction, development, or brokerage, insurance/business brokerage, unless the applicant can demonstrate a compelling benefit to the province and their capacity to manage daily operations
- Professional services or businesses requiring licensing or accreditation for self-employment
- Pay day loan, cheque cashing, money changing, and cash machine businesses
- Pawn shops
- Taxi companies
- Home-based businesses, unless a compelling benefit to the province can be shown
- Businesses dealing in the production, or sale of pornographic or sexually explicit products or services
- Not-for-profit businesses
- Investments in businesses to generate passive income
- Businesses focused mainly on earning investment income
- Businesses that compensate employees on a commission basis
- Any business that could risk damaging the reputation of OIM, NLPNP, or the Government of NL
What additional criteria does an applicant need to meet when starting a new business in Newfoundland and Labrador?
If you’re starting a business, you must create at least one full-time job for a Canadian citizen or PR in the province. The job must:
- be in addition to the applicant’s own position
- be related to the applicant’s business
- meet the existing wage levels
What additional criteria does an applicant need to meet when buying an existing business?
If you’re buying an existing business in the province meet the following criteria:
- The business must have operated under the same owner for the last 5 years
- If applying from outside the province, you must complete an exploratory visit
- Demonstrate reasonable efforts that you made to determine the business’s market value
- The business must be operational
- You must offer similar employment terms to existing staff
NLPNP International Entrepreneur Category: Partnership
The NLPNP International Entrepreneur Stream allows up to 10 partners, which includes the main applicant and 9 others. Both international and Canadian citizens or PRs can be partners. To qualify:
- Each applicant must invest at least $200,000 and own at least 33.3% of the company
- Partners must be actively involved in managing the business
Note: Partners must submit the same documents as the primary applicant to apply for permanent residency.
Application Process: Newfoundland and Labrador International Graduate Stream
Follow the below-mentioned steps to apply for a nomination through the NLPNP International Graduate Stream:
Step 1: Create an EOI
Step 2: Get an ITA
Step 3: Attend an In-Person Interview and BPA
Step 4: Get Nominated
Step 5: Apply for PR
Step 1: Create an EOI
To apply for the NLPNP International Entrepreneur stream, applicants must submit an online Expression of Interest (EOI), which indicates your intention to apply. The Office of Immigration and Multiculturalism (OIM) will review the EOI and invite the top scoring applicants to submit a full application.
Keep in mind that submitting an EOI doesn’t guarantee a nomination.
Step 2: Get an ITA
If your EOI is selected, you’ll receive an Invitation to Apply (ITA) from the provincial government. The ITA letter will include a File Number. You must submit the following documents when applying for a nomination:
- A completed application form
- All supporting documents
- A Net Worth Verification Report
- A Business Establishment Plan which must:
- be aligned with the points in the International Entrepreneur Category Points Grid
- have a percentage of equity ownership and investment amount in the business
- commit to be actively involved in managing the business
- If starting a new business, you must create at least one job for a Canadian citizen or PR
- If purchasing an existing business, you must maintain similar terms and conditions of employment
- You must complete a mandatory exploratory visit to the province
Step 3: Attend an In-Person Interview and BPA
After the Office of Multiculturalism (OIM) assesses your application, and if you meet the eligibility criteria for the stream, it may be invited for an in-person interview.
You will need to visit the province for the interview, which is expected to take place within 60 calendar days.
If you don’t attend this interview within the time limit, your application will be closed by the OIM, unless you have a valid reason.
If the interview is successful, you will receive a Business Performance Agreement. You must review, sign, and submit the agreement within 15 business days.
The Business Performance Agreement is a legal contract with the provincial government. It must specify:
- The amount you are investing
- Your percentage of ownership
- Other details regarding the business, such as job creation, business succession, and business location
This agreement is based on the information provided in your Business Establishment Plan. If your agreement is approved, OIM will issue you an International Entrepreneur Approval Letter and then you will need to apply for a work permit to the IRCC.
If your work permit application is approved, you must arrive in Newfoundland and Labrador within 6 months.
Step 4: Get Nominated
To be eligible for nomination, you and your dependents must be living in Newfoundland and Labrador. You must also meet the following criteria:
- Meet all requirements of the Business Performance Agreement
- Operate and actively manage your business for at least 1 year
To request a nomination, you must complete the Nomination Request Form and submit:
- A Review Engagement
- A Special Purpose Report
These reports must be prepared by a licensed Chartered Professional Accountant or Public Accountant in the province. The verifier will send these reports directly to OIM for consideration.
OIM will assess your application for nomination based on whether or not you meet the Business Performance Agreement.
Step 5: Apply for PR
If you are nominated by the province, you must apply for Canadian permanent residency within 6 months of being nominated.
In case any of these steps seem confusing, hit us up in the comments section! Or, you may also fill out the form provided below and our immigration experts will get back to you!
