NLPNP: Immigrant Entrepreneur

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New Foundland PNP

This program is currently under revision. If you are an entrepreneur and are interested in immigrating to our province please enquire here:

Email: pnp@gov.nl.ca
Phone: (709) 729-5847

This category is designed to attract entrepreneurs who are willing to establish a new business in Newfoundland and Labrador or purchase all or part of an existing business in the province. To be considered as an eligible applicant under the Immigrant Entrepreneur category, you must:
Criteria:

  • eligible business, especially one with prospects for expansion or identified on the strategic sector list (i.e. biotechnology, oil, mining, healthcare, tourism); ineligible sectors include retail and wholesale operations, financial services, and real estate and construction
  • if required, professional credentials or licences appropriate to the applicant’s business
  • a minimum five (5) years of senior management or direct entrepreneurial experience in a business similar to the one proposed; the applicant must provide CV, letters of recommendation, financial statements and other documents to support this
  • a minimum net worth of C$450,000, including minimum liquid assets of C$350,000, including: cash, demand deposits with a financial institution, term deposits, tax shelters convertible to cash, and publicly traded stocks and bonds
  • if the applicant is investing in a new or (expanding) existing business, the applicant must make a minimum direct investment of C$200,000
  • sign a Performance Agreement that sets out the terms and conditions of the applicant’s investment
  • make, at the applicant’s own expense, at least one exploratory visit to Newfoundland; the NLPNP encourages all prospective immigrant entrepreneurs to do as much in-depth research on Newfoundland and Labrador, the business community, and investment prospects before visiting
  • submit a detailed business plan outlining how the new enterprise will be successfully established