Immigration to Newfoundland and Labrador for entrepreneurs
Businesspeople who intend to start their own business or buy an existing business in the province can obtain permanent residency through the International Entrepreneur stream.
The International Entrepreneur stream of the Newfoundland and Labrador provincial program is designed for entrepreneurs who want to obtain a permanent residency in the province by starting a new business or buying an existing one. Up to 10 business partners can immigrate through the program at once.
Eligibility
To immigrate through the International Entrepreneur stream you must meet a number of requirements:
- be between the ages of 21 and 59;
- have at least a high school education;
- make a business plan;
- own net worth of $600,000 CAD or more;
- be willing to invest in the business:
- $200,000 CAD or more and at the same time own at least a third of the company;
- $1 million CAD or more;
- have the valid experience:
- 2 years of business ownership and management experience within the last 5 years;
- or 5 years of experience in a senior management position within the last 10 years;
- demonstrate proficiency in English or French at level 5 on the CLB scale;
- create at least one workplace within the business.
Priority will be given to candidates who plan to do business in one of the in-demand fields:
- agriculture;
- aquaculture;
- technology;
- natural resources.
In addition to the requirements listed above, Newfoundland and Labrador evaluates candidates using the provincial Expression of Interest system. You need to score at least 72 points. Points are awarded for factors such as language skills, education, business experience, age, business field, and ability to adapt to the province.
How to apply
Candidates interested in immigrating through the International Entrepreneur stream should complete an Expression of Interest form on the official Newfoundland and Labrador website. Be prepared to be interviewed by the province. If approved, you can arrive in Newfoundland and Labrador and start your business. After one year, you can apply for permanent residency.
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To learn about other Newfoundland and Labrador provincial program streams, see "Immigration to Newfoundland and Labrador — Canada's provincial program".
