International Graduate Entrepreneur Stream
Terms to Qualify
To qualify under the International Graduate Entrepreneur Stream, you must:
- Be at least 21 years of age.
- Give a business continuity plan with all supporting documents.
- Have a degree or diploma after completing a minimum of 2 years of the full-time study program at Memorial University or College of the North Atlantic. Also, the degree or diploma must have been completed within 2 years of submitting an Expression of Interest (EOI).
- Have a valid Post Graduate Work Permit (PGWP).
- Agree to settle permanently in the province. Also, you must run and own a business that is profitable to the province.
- Have a minimum of 1 year of experience as a business owner and handling company affairs. Also, must have a minimum of 33.3% ownership.
- Must create 1 full-time job for permanent residents and Canadian citizens in the province.
- The business must be running to get profits by the sale of goods and services.
- Have a minimum of CLB 7 language skill level in English/French.
- Submit an EOI; and
- Get an Invitation to Apply (ITA) from the Office of Immigration and Multiculturalism (OIM).
Applicants who want to support regional economic development or work in high-demand industries or sectors such as Agriculture, Technology, Aquaculture, Natural Resources will be prioritised by NL PNP.
Who can not apply to the International Graduate Entrepreneur Stream?
You can not apply to this stream if you:
- Are living illegally in one’s country of residence.
- Had a removal order issued against them by IRCC or Canada Border Services Agency.
- Are prohibited from entering Canada.
- Are a passive investor (want to invest in a Newfoundland and Labrador business with less or no involvement in the day-to-day operations of the business); and
- Do not have legal status. Therefore, you can not apply until your status is restored.
Business and Financial Terms
You must also meet the following business and financial terms to qualify:
- Own, run, and actively handle a business in the province for a minimum of 1 year before submitting an EOI.
- Must own at least 33.3% of the equity of the eligible business. Also, must be actively running the business.
- You must be getting revenue in the form of salary from the business. Also, the business must be profitable and must make you economically sound. Further, submit proof of the same by giving audit reports/financial statements.
Terms for the Applicant’s Business
In addition to the above terms, your business must meet the following terms:
- Business must have been a career option and must not have been in existence for only immigration purposes.
- Business must meet all legal terms of the community they are running in.
- The business must be running to earn profits through the sale of goods/services.
- Also, the business must be permanent under subsection 400(2) of the Canadian Income Tax Regulations, 1985.
- Must pay all taxes applicable.
- The business must be run from the province and the owner must not be running the business from any other location instead of the registered place.
- Further, the business must be profitable to the Newfoundland and Labrador. Such as:
- Add value to the manufacturing or processing, destination tourism, exports, research, and development, and/or technology commercialization.
- Develop innovative approaches to grow traditional businesses.
- Transfer technology and specialised knowledge to the province.
- Offer products or services to an under-served local or regional market.
Businesses that do not qualify under the International Graduate Entrepreneur Stream
- Businesses that are running outside the province (another Canadian province or another country).
- Property rental, investment, and leasing activities.
- Real estate construction/development/brokerage, insurance brokerage or business brokerage. Also, these areas are acceptable if the applicant can prove that their business will offer benefits to the province. Further, the applicant must be able to run its business.
- A business/services that require licensing or accreditation.
- A payday loan, cheque cashing, money changing and cash machines;
- Taxi companies.
- Home-based businesses; unless the applicant can prove if their business will grow the province.
- Any businesses that deal with production, distribution, or sale of products/services that are explicit.
- Not-for-profit businesses.
- Any investment in a business that is being run to get passive investment income.
- A business that wants to get a return on investment such as interest, capital gains or dividends.
- Any businesses that will offer employees income on a commission basis.
- Any business whose approval will bring disrepute to OIM, NL PNP, or the government of Newfoundland and Labrador.
Additional terms to meet under the International Graduate Stream
In addition, to the above, the applicant must meet additional terms if it is either buying an existing business or starting a new business.
Terms to meet for starting a new business
When starting a business, the applicant must create 1 full-time, permanent, job for a Canadian citizen or a permanent resident in Newfoundland and Labrador.
Also, this job position must be:
- Over and above any position filled by the applicant who is approved. Also, this job position must not be for the applicant’s dependents or relatives eligible.
- Must be the need of the applicant’s business.
- Must offer a prevailing provincial wage.
Terms to meet for buying an existing business
To buy a business in the province, meet the following terms:
- The business must be running for the past 5 years by the same owner.
- Give proof of buying the business at fair market value.
- Also, the business must be actively running.
- Besides, the applicant must maintain existing wages and employment terms for the existing staff.
Under the International Graduate Entrepreneur Stream, there can be a total of 3 partners associated with the business. All 3 (1 primary applicant + 2 partners) can apply through a single application
Also, international graduates and Canadian citizens or permanent residents can be partners under this stream on a single application. But to get permanent residence through this stream, the applicants must have a minimum of 33.3% ownership of the business.
How to Apply?
- Submit an Expression of Interest (EOI) to NL PNP International Graduate Entrepreneur Stream.
- After approval get an Invitation to Apply (ITA) to NL PNP for nomination.
- In-Person Interview, Business Continuity Plan, and Nomination.
- Apply for Permanent Residence.