Newfoundland and Labrador have developing tech industries and the landscape lends itself to adventure and ecotourism opportunities.There are currently two new Investor and Entrepreneur visa options available to those hoping to start a business in Newfoundland and Labrador.

  • International Entrepreneur
  • International Graduate Entrepreneur streams

Newfoundland and Labrador International Entrepreneur

Personal requirementsYou must:

  • be between 21 and 59 years old;
  • submit a verified business plan;
  • have completed high school;
  • intend to live in the province permanently while owning and managing a local business with the potential of bringing economic benefit to the local communities;
  • participate in the active and ongoing management of the business;
  • have a personal net worth of $600,000 CAD;
  • be able to invest a minimum of $200,000 CAD in establishing your business that you earn at least a third of;
  • create at least one job for a permanent resident or citizen of Canada;
  • show your business is for profit with the primary purpose of making a profit through providing services or selling goods;
  • have a minimum of two years’ experience in managing and owning a business during the past five years or five years of experience in a senior management role during the past five years;
  • have at least level five in all four categories of the Canadian Language Benchmark Test in either French or English;
  • complete an Expression of Interest (EOI); and
  • receive an Invitation to Apply (ITA) from Newfoundland and Labrador immigration.
Business requirementsThe business must:

  • meet legal standards;
  • be seen as a permanent establishment as defined by the Canadian Income Tax Regulations; and
  • be able to bring economic growth to the province.
Additional requirements when starting a businessIf you plan to start a business, you must create at least one position for a Canadian citizen or permanent resident of Canada. This position must:

  • be in addition to your own position;
  • be directly related to the business; and
  • be in line with the wage standards of the community.
Additional requirements when buying a businessYou must:

  • buy a business that has been in continuous operation by the same owner for the past five years;
  • complete an exploratory visit to meet the current owners of the business;
  • buy a business that is in active operation;
  • offer similar employment conditions to the existing staff; and
  • show that effort was made to provide a fair market value for the business.
Partnership requirementsIf your intention is to enter a partnership with several applicants (maximum of 10 per application), each of you who want permanent residence through the partnership must:

  • invest a minimum of $200,000 CAD in the partnership and own at least one-third of the company; or
  • invest a minimum of $1,000,000 CAD.

Newfoundland and Labrador International Graduate Entrepreneur

Personal requirementsYou must:

  • be at least 21;
  • submit a verified business plan;
  • have earned a tertiary qualification after two years of studying at Memorial University or College of the North Atlantic;
  • have a valid post-graduation work permit;
  • intend to live in the province permanently while owning and managing a local business with the potential of bringing economic benefit to the local communities;
  • have at least one year’s experience in actively managing and owning the current business (at least one-third of the business);
  • create at least one job for a permanent resident or citizen of Canada;
  • show your business is for profit with the primary purpose of making a profit through providing services or selling goods;
  • have at least level seven in all four categories of the Canadian Language Benchmark Test in either French or English;
  • complete an Expression of Interest (EOI); and
  • receive an Invitation to Apply (ITA) from Newfoundland and Labrador immigration.
Business requirementsThe business must:

  • be created as a career objective, not for the sole purpose of immigration;
  • meet legal standards;
  • be seen as a permanent establishment as defined by the Canadian Income Tax Regulations; and
  • be able to bring economic growth to the province.
Additional requirements when starting a businessIf you plan to start a business, you must create at least one position for a Canadian citizen or permanent resident of Canada. This position must:

  • be in addition to your own position;
  • be directly related to the business; and
  • be in line with the wage standards of the community.
Additional requirements when buying a businessYou must:

  • buy a business that has been in continuous operation by the same owner for the past five years;
  • complete an exploratory visit to meet the current owners of the business;
  • buy a business that is in active operation;
  • offer similar employment conditions to the existing staff; and
  • show that effort was made to provide a fair market value for the business.
Partnership requirementsIf your intention is to enter a partnership with several applicants (maximum of 3 per application), all of the applicants who want permanent residency must own at least a third of the business.

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