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Expression of Interest System Opens for Two New Entrepreneur Streams in Newfoundland

The immigration authorities in Newfoundland & Labrador have announced commencing the Expression of Interest process for two new Entrepreneur Streams. The International Graduate Entrepreneur and International Entrepreneur opened for Expression of Interest on Jan 16, 2019.

The announcement of streams in July 2018

The announcement for these new streams was made in July 2018, and now the candidates can submit the EOIs. Moreover, For IG Entrepreneurs, the system of EOI will be open, but the province plans to open and close the process periodically for candidates of the International Entrepreneur stream. Bernard Davies, Labor Minister said that the streams aim to increase the economy of Newfoundland & Labrador. The new categories are having a design make it easy for newcomers in establishing businesses, creating additional jobs, and for participating in the economic life of the province. Furthermore, the province has opportunities for global graduate entrepreneurs and prospective entrepreneurs from all corners of the world. It provides a welcoming business environment, added with supportive communities, and serves as an ideal place to build a bright future.

International Graduate Entrepreneur Category

This Entrepreneur category aims to attract graduates of Memorial University/College of the North Atlantic who already started or purchased a local business. Requirements:
  • An age of 21 years.
  • Providing a business plan and verifying the supporting financial documents.
  • Having a degree/diploma after two academic years of in-person and full-time study at Memorial University/College of the North Atlantic. This degree /diploma must be completed in two years of submitting the EOI.
  • Also having a valid Post-Graduate Work Permit.
  • An intention to live in Newfoundland & Labrador permanently while owning and managing a business actively. Moreover, it must bring economic benefits to the province.
  • Having one-year continuous experience also to manage and own the present business actively, with a 33.3 percent ownership;
  • Creating one full-time job for citizens or PRs in Canada.
  • Furthermore, the business entity must aim for profits with the purpose of earning a profit from the sale of goods and services.
  • Get a Score of 7 on the CLB in listening, speaking, reading and writing in English/French;
  • Completing the online EOI and finally,
  • Receiving the ITA from the Immigration and Multiculturalism Office of Newfoundland and Labrador.

International Entrepreneur Category

Moreover, This Entrepreneur category caters to business owners or senior business managers who have experience and also wish to reside permanently in the province. Requirements:
  • Age between 21 and 59 years.
  • Providing a business plan and verifying the supporting financial documents.
  • Having a high school diploma in Canada.
  • An intention to live in Newfoundland & Labrador permanently while owning and managing a business actively. Moreover, it must bring economic benefits to the province.
  • Having $600,000 in net business and personal assets also without any encumbrance which can be transferred to Canada readily.
  • Furthermore, Investing $200,000 for establishing a business in Newfoundland & Labrador with an ownership of 33.3 percent, or also investing $1 million in equities.
  • Creating one full-time job for citizens or PRs in Canada.
  • Furthermore, the business entity must aim for profits with the purpose of earning a profit from the sale of goods and services.
  • Also having two years’ experience in managing and owning a business actively, with an ownership of 25 percent in the past five years or having 5 years’ experience in a senior business role in management during the past ten years.
  • Get a Score of 5 on the CLB in listening, speaking, reading and writing in English/French. Canadian English Language Proficiency Program (CELPIP) General Test, or IELTS, General Training Test; or TEF are also acceptable;
  • Completing an online EOI and finally,
  • Receiving the ITA the Immigration and Multiculturalism Office of Newfoundland and Labrador.
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