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Settle in New Brunswick Or Newfoundland And Labrador as Businessman, Entrepreneur or Investor

 

This blog is about the immigration options available for businessmen, entrepreneurs or investors to settle in New Brunswick or New Foundland And Labrador.

New Brunswick

                                                                                         New Brunswick

Process to apply under New Brunswick entrepreneurial stream:

Step 1 – Check your eligibility for this stream.

Step 2 – Make sure you have all the required documents on hand to prepare and submit a complete and correct application to the Government of New Brunswick and to the Government of Canada.

Step 3 – Submit an EOI indicating your interest in applying for permanent residence through the NBPNP. It is an expression of your interest(EOI) to apply for immigration through the Entrepreneurial Stream.

Step 4 – Before submitting an EOI, make sure that you have at least one of the following eligible connections:

a) You have visited New Brunswick for at least five business days within the previous 24 months prior to submitting your EOI; or

b) You have participated in an Entrepreneurial Stream information session offered by an official representative from the Government of New Brunswick within the previous 24 months prior to submitting your EOI.

c) You or your spouse have been awarded a diploma or certificate that required at least two years full-time study at a post-secondary institution in New Brunswick after completion of high school; or

d) You or your spouse have worked 30 hours per week for at least 12 consecutive months in a high-skilled occupation (NOC O, A, B) for a company located in New Brunswick; or

e) You or your spouse have family members (i e, parents, grandparents, aunt, uncle, niece, nephew, who are Permanent Residents or citizens of Canada living in New Brunswick for at least 12 months, or dependent children studying in NB).

Step 5 – EOIs will remain in the pool for a period of 12 months. If after 12 months a candidate does not receive an ITA, they can re-apply to the program.

Step 6 – Selected candidates will receive an ITA informing them to submit a full application online via the New Brunswick online system.

Step 7 – Submission of provincial application to PETL (Department of PostSecondary Education, Training and Labour)Once you have submitted your complete application online and paid the processing fee, PETL will conduct a full review of your application and it will be assessed according to eligibility requirements and selection factors.

Step 8 – Preparing your Business Plan, in developing the plan you must demonstrate that you have conducted extensive research and considered relevant economic, market and cultural factors. You must also take into account your strengths and weaknesses.

Step 9 – PETL may request additional evidence and information as reasonably required for verifying and processing your application.

Step 10 – PETL may require you to participate in an interview as reasonably required to verify information related to your application, or any other reason to be disclosed at the time of the request. The interview shall be held in your preferred language of English and/or French. Interpreters are not permitted during the interview. The format, location and time of the interview shall be determined by PETL. Failure to attend your scheduled interview may result in the refusal of your application.

Step 11 – PETL will advise you and your representative, if applicable, of the final decision in writing and upload that decision to your online profile’s dashboard.

Step 12 – If you are nominated, you will receive a letter with instructions for submitting a signed and dated Business Performance Agreement and the deposit of $100,000 CAD to PETL within 60 days of issuance of the letter.

Step 13 – After receiving your nomination certificate, you can apply to IRCC for PR.

Newfoundland And Labrador

                                                                            Newfoundland & Labrador

Eligibility Criteria:

  • Applicant age must be between 21 to 59 years.
  • Applicant need to provide a business plan with supporting financial documentation verified by a recognized third-party professional.
  • Applicant need to 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 EOI is submitted.
  • Applicant must be willing to live permanently in Newfoundland and Labrador while owning and actively managing a local business that has the potential to create significant economic benefit to Newfoundland and Labrador;
  • Applicant need to have at least $600,000 CAD in unencumbered net business and personal assets that can readily be transferred to Canada;
  • Applicant must be able to invest at least $200,000 CAD of their own money to establish a business in the Newfoundland and Labrador with a minimum ownership of 33.3 per cent, or $1 million in equity investment;
  • Applicant must demonstrate ability to create at least one full-time equivalent job for local population (permanent residents and Canadian citizens);
  • Applicant must demonstrate that the business is a for-profit entity with the primary purpose of earning profits through the sale of goods and/or services;
  • Applicant must have at least two years’ experience actively managing and owning a business (25 per cent minimum ownership) in the last five years OR 5 or more years’ experience in a senior business management role in the last ten years;
  • Applicant must have a score of at least 5 on the Canadian Language Benchmark in speaking, listening, reading and writing in English or French (acceptable tests are Canadian English Language Proficiency Program (CELPIP) General Test, or International English Language Testing System (IELTS), General Training Test; or Test d’evaluation de francais (TEF)

Process To Apply

Step 1 – Complete an online Expression of Interest (EOI)

Step 2 – Receive an Invitation to Apply from the Office of Immigration and Multiculturalism.

Step 3 – 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.

Step 4 – All prospective International Entrepreneur applicants applying from outside the province must conduct an initial exploratory visit to Newfoundland and Labrador prior to submitting an official application to the Office of Immigration and Multiculturalism.