NLPNP : Newfoundland and Labrador Entrepreneur Stream
What is Newfoundland and Labrador Entrepreneur Stream?
The Newfoundland and Labrador Entrepreneur Stream is a pathway under the Newfoundland and Labrador Provincial Nominee Program (NLPNP) that allows experienced entrepreneurs and business owners to immigrate to the province and establish or acquire a business.
- To be eligible for the Newfoundland and Labrador Entrepreneur Stream, applicants must meet the following criteria:
1. Business Experience:
Have a minimum of two years of experience actively managing and owning a business (at least 33.3% ownership) or have at least five years of experience in a senior business management role.
2. Net Worth:
Possess a minimum net worth of at least $600,000 CAD, legally obtained, and verifiable.
3. Investment:
Commit to making a minimum equity investment of $200,000 CAD in a new or existing business in Newfoundland and Labrador. If the business is located outside the St. John’s metropolitan area, the investment requirement is reduced to $150,000 CAD.
4. Ownership and Management:
Agree to own and manage at least 33.3% of the equity in the business, or a minimum of 10% if the investment is $1 million CAD or more.
5. Business Performance Agreement:
Sign a Business Performance Agreement with the Government of Newfoundland and Labrador, outlining the terms and conditions related to business performance, job creation, and business establishment in the province.
Newfoundland and Labrador Entrepreneur Stream stages
Submit an EOI to the Newfoundland and Labrador Office of Immigration and Multiculturalism, expressing your interest in the Entrepreneur Stream. If your EOI meets the eligibility criteria, you will be issued an Invitation to Submit an Application.
Prepare and submit a detailed application, including all required documents and supporting evidence, such as business plans, financial statements, and personal information.
If your application is assessed positively, you may be invited to attend an interview with the Office of Immigration and Multiculturalism. The interview is an opportunity to provide additional information about your business proposal and entrepreneurial experience.
If you successfully pass the interview and meet all the program requirements, you may receive a nomination from the Newfoundland and Labrador Office of Immigration and Multiculturalism. This nomination allows you to apply for Canadian permanent residency to Immigration, Refugees and Citizenship Canada (IRCC).
Newfoundland and Labrador Entrepreneur Streams
Newfoundland and Labrador currently offers two Provincial Nominee Programs (PNP): the Newfoundland and Labrador Provincial Nominee Program (NLPNP) and the Atlantic Immigration Pilot Program (AIPP). These programs are designed to attract and nominate foreign individuals who have the skills and experience needed in the province’s labor market.
1. Newfoundland and Labrador Provincial Nominee Program (NLPNP):
This program allows the province to nominate individuals who meet the eligibility criteria for permanent residency. The NLPNP has various streams, including the Express Entry Skilled Worker, Skilled Worker, International Graduate, and Entrepreneur streams, each with its own specific requirements and criteria.
2. Atlantic Immigration Pilot Program (AIPP):
Although it is a regional program covering multiple Atlantic provinces, Newfoundland and Labrador is a participating province in the AIPP. Under this program, employers in the province can hire foreign workers for positions that they have been unable to fill locally. The AIPP includes three streams: Atlantic High-Skilled Program, Atlantic Intermediate-Skilled Program, and Atlantic International Graduate Program.