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NewFoundLand & Labrador Investment

Newfoundland and Labrador’s economy is basically run by small scale business enterprises. You’d be surprised to find out that about 40% of the entire population is employed by these businesses. The region has become a hot spot for startups and there is still room for plenty more! The developing tech industry and the unique landscape provides numerous opportunities for adventure and eco-tourism. Furthermore, there is plenty of room to invest in the agricultural sector as well. 

There are currently two new Investor and Entrepreneur visa options available to those hoping to start a business in Newfoundland and Labrador, the International Entrepreneur and International Graduate Entrepreneur streams.

Read on to find out more!

Newfoundland and Labrador International Entrepreneur:

  Newfoundland and Labrador International Entrepreneur
Personal Requirements 

You 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 Requirements 

The 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 business

If 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 business

You 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 requirements

If 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:

  Newfoundland and Labrador International Graduate Entrepreneur
Personal Requirements

You 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 requirements

The 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 business

If 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 business

You 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 Requirements If 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.

Book your consultation with us today to get a tailor-made business plan to help you launch your New Brunswick Investment Immigration venture.