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Newfoundland and Labrador Nominee Program - International Entrepreneur

CanadaStarting a business

Explore the five recorded questions, answers and sources for this pathway.

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Is this for a founder, startup entrepreneur, self-employed person, freelancer, company owner or another business profile?

The profile is an owner or manager of a for-profit business: the applicant needs either at least two years of business ownership and management with 25% or more ownership in the last five years, or at least five years in a senior management role in the last ten.

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  • chars 5771-5964
    Own or manage a for-profit business Have either: 2+ years of business ownership and management (25%+ ownership) in the last 5 years, or 5+ years in a senior management role in the last 10 years

What must actually exist or be demonstrated: business plan, company, innovation, clients, contracts, economic activity, job creation or other substance?

There are two routes. Starting a new business requires creating at least one full-time job for a local resident that is not filled by a family member, is directly related to the business and pays a fair, competitive wage. Buying an existing business requires that it has run under the same owner for the past five years, that the applicant meets the current owner during the exploratory visit, that the purchase price reflects fair market value, that the business is active and not in receivership, and that current staff are kept on the same wages and conditions.

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  • chars 6420-6959
    Two Business Streams Starting a New Business You must create at least one full-time job for a local resident that: Is not filled by a family member Is directly related to your business Pays a fair, competitive wage Buying an Existing Business You must ensure: The business has been running under the same owner for the past 5 years You meet the current owner during your exploratory visit The purchase price reflects fair market value The business is active and not in receivership You keep current staff with the same wages and conditions

What investment, capital, income, revenue, funding or viability evidence is central to this pathway?

At least CAD 600,000 in personal and business assets that can be transferred to Canada, plus a readiness to invest at least CAD 200,000 in a business with at least 33.3% ownership, or to invest CAD 1 million in equity.

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  • chars 5488-5691
    Have at least $600,000 CAD in personal and business assets that can be transferred to Canada Be ready to invest at least $200,000 CAD in a business (own at least 33.3%) or invest $1 million CAD in equity

What business/self-employed activity may the holder conduct? Are there important restrictions? What is the family position where clearly stated?

Barred business types are: remote businesses run from outside NL or Canada; property rental, leasing or investment businesses; real estate, insurance or business brokerages and home-based businesses unless proven to benefit NL; regulated professional services or self-employment; payday loans, cheque cashing, money exchange and ATMs; pawn shops and taxi companies; adult content or services; non-profits; passive investment businesses; commission-only jobs; and any business that could harm the reputation of the programme or the government. The family position is not stated.

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Limits of the record
  • The list says what may not be done; the page never states what status or permission the applicant holds while running the business.
  • Nothing is stated about the position of a spouse, partner or children.
  • chars 7215-7812
    Ineligible Businesses The following types of businesses are not allowed : Remote businesses (run from outside NL or Canada) Property rental, leasing, or investment businesses Real estate, insurance, or business brokerages (unless proven to benefit NL) Regulated professional services or self-employment Payday loans, cheque cashing, money exchange, ATMs Pawn shops or taxi companies Home-based businesses (unless proven to benefit NL) Adult content or services Non-profits Passive investment businesses Commission-only jobs Any business that could harm the reputation of the program or government

What approval/application sequence applies, how long is the status granted, how is it renewed, and what longer-term residence direction is officially stated?

The NLPNP aims to attract individuals who can boost the province's economy and settle permanently, and successful applicants may become permanent residents of Canada. The official source does not state the application sequence, the nomination's validity, any interim work permit or its renewal for this category.

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Limits of the record
  • the citation is the programme-level statement covering every NLPNP category; it is not specific to International Entrepreneur
  • the page does not state the application sequence, the nomination's validity, any interim work permit, its duration or its renewal for this category
  • chars 5381-5543
    The NLPNP aims to attract individuals who can boost the province’s economy and settle permanently. Successful applicants may become permanent residents of Canada.

These are the answers currently recorded in the catalogue. A missing or partial answer is not an eligibility decision.

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