This stream of Newfoundland & Labrador PNP is made for foreign business people who have finances and management experience to own and operate a business in the province of Newfoundland & Labrador.
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Program Requirements |
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Express Entry Profile |
No |
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Connection to Province |
No |
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Job Offer |
No |
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Language Proficiency |
CLB 5 |
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Level of Education |
High School |
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Work Experience |
2 years managing/owning a business OR 5 years as senior business manager |
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Investment Requirement |
Net Worth: $600,000 CAD Investment: $200,000 CAD |
The applicants are required to provide proof of language proficiency in either English or French with CLB level 5 at least.
Applicants must demonstrate completion of education at least equivalent to a Canadian high school diploma. In case it is completed outside Canada, the same must be supported by an Educational Credentials Assessment (ECA).
The candidates must have adequate work experience that enables them to establish and run a business in Newfoundland & Labrador successfully, which can be proven by having at least 2 years of work experience as an active business owner-manager or 5+ years of experience as a senior business manager.
The candidates must prove their ability to invest in and establish a business in the province of Newfoundland & Labrador. This can be done by showing a personal net worth of at least $600,000 CAD and making an investment of at least $200,000 CAD in a new or existing business that they decide to purchase.
As this stream the system of Expression of Interest (EOI) to select the applicants, the candidate must first submit an EOI using the PNP’s online service in order to be considered for this program. The EOI service opens for short periods throughout the year. Once submitted, the candidates are ranked against one another and the most competitive ones are invited to apply to the program.
Upon receiving an Invitation to Apply (ITA), the candidates must go ahead and submit an official application for nomination to the province, which should include the documentation that supports the information that was included in the original EOI. Also, the applicants must provide an Audit report along with a Business Establishment Plan in order to showcase their entrepreneurial intentions. They must also pay an application fee of CAD $1,000. If their application is considered to be complete, the applicant will need to travel to the province of Newfoundland & Labrador in order to participate in an in-person interview. In case the interview is successful, they must sign a Business Performance Agreement and must detail their commitments to establish/purchase a business in Newfoundland & Labrador.
If the application gets approved, the applicant receives a work permit authorization letter, which allows them to apply for a Canadian work permit. This work permit is to be used to relocate to Newfoundland & Labrador in order to launch their business. After running the business according to the Business Performance Agreement, the applicant may apply for an official Provincial Nomination.
Once the provincial nomination is received, they can apply to IRCC for Canadian PR.
