Nova Scotia Entrepreneur Stream
The Entrepreneur Stream aims to attract individuals who wish to start or buy, and actively manage, a business in Nova Scotia.
The key feature of the Entrepreneur Stream is that it is a temporary to permanent residence program. This means that approved applicants must operate a business in Nova Scotia on a Work Permit for at least one continuous year before being nominated for permanent resident status in Canada.
There are 6 steps an applicant must complete:
Step 1: Expression of Interest Criteria and Process
Step 2: Invitation to Apply
Step 3: In Person Interview and Business Performance Agreement
Step 4: Work Permit and Business Establishment in Nova Scotia
Step 5: Request for Nomination
Step 6: Apply for Permanent Residence
The nomination process starts with submitting an Expression of Interest to run a business and reside in Nova Scotia. The top scoring applicants will be notified by the Nova Scotia Office of Immigration that they are being invited to submit their full application to the Nova Scotia Nominee Program.
Applicants will be issued a temporary work permit in order start or acquire a business in Nova Scotia. Applicants will be able to land in Nova Scotia with their family, settle, and start or acquire their business.
When applicants satisfie the conditions of the Business Performance Agreement by making the required investment, operating the business continuously for a minimum of one year, and submitting a Business Establishment Progress Report, they can then apply to be nominated for permanent residence by the province of Nova Scotia under the NSNP.
Minimum Eligibility Criteria
- Have a minimum CAD $600,000 in Net Business and Personal Assets
- Have a minimum of three years of business ownership or more than five years of experience in a senior business manager role in the last 10 years
- Agree to make a minimum capital investment of CAD $150,000 in Nova Scotia;
- If staring new business; have to create a minimum of one full time (or equivalent) employment opportunity for a Canadian or Permanent
- Resident in Nova Scotia
- Have CLB 5 in either English (IELTS score: Listening: 5.0, Reading: 4.0, Writing: 5.0, Speaking: 5.0)
- Have a minimum of high school diploma
Buying an existing Business
- The business must have been in continuous operation by the same owner for the previous 5 years
- Applicant must complete an exploratory visit to meet the current owner
- Applicant must provide evidence that reasonable efforts were taken to establish a fair market value for the business
- The business must be in operation and not in insolvency
- The takeover must result in a complete change in ownership where an applicant will assume full control of the business and maintain existing wages.
Ineligible Applicants Do not apply for the Entrepreneur Stream if you are:
- A refugee claimant in Canada claiming refugee status from the Government of Canada.
- Living illegally in your country of residence.
- A person who has had a removal order issued against them by IRCC or Canada Border Services Agency.
- A person who is prohibited from entering Canada.
- A passive investor (individuals who intend to invest in a Nova Scotia business with very limited or no involvement in the day-to-day management of the business).
- an individual who does not have status; you are not eligible to apply until your status has been restored;
Businesses that are not eligible under the Entrepreneur Stream:
- Businesses that are conducted remotely (from another Canadian jurisdiction or from another country)
- Property rental, investment, and leasing activities.
- Real estate construction/development/brokerage, insurance brokerage or business brokerage; unless the applicant can prove their project in this area will have a compelling benefit to the Province of Nova Scotia.
- Professional services or self-employed business operators requiring licensing or accreditation.
- Pay day loan, cheque cashing, money changing and cash machines.
- Credit unions
- Home-based businesses; unless the applicant can prove their business will have a compelling benefit to the Province of Nova Scotia
- Investments into a business operated primarily for the purposes of deriving passive investment income.
- Businesses involved in the production, distribution or sale of pornographic or sexually explicit products or services.
- Joint ventures between NSNP program applicants.
- Any other type of business that by association would tend to bring the NSNP or the Government of Nova Scotia into disrepute.
Read more about Nova Scotia Entrepreneur Stream
Nova Scotia Facts
Capital City: Halifax
Area: 55,490 Sq Km
Main Products: Agricultural: Dairy products, eggs, poultry, fruits, vegetables, beef, pigs.
Manufactured: Fish products, publishing, ships, wood products, food and beverages, animal feed, tires.
Mined: Coal, gypsum, barite, salt, peat, sand and gravel, petroleum, natural gas.
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