Nova Scotia Nominee Program: Entrepreneur Category

and entrepreneurs who wish to start a new business or acquire an existing business in Nova Scotia and settle here permanently. Business owners and business managers with significant experience in operating a business can apply through the Entrepreneur category of the NSNP. But they must have the intention to live in Nova Scotia and be willing to manage their proposed business in Nova Scotia on a day-to-day basis.

The Entrepreneur Stream of Nova Scotia Nominee Program (NSNP) operates on the basis of an Expression of Interest (EoI) system. It is a temporary residence program and the candidates have to operate the proposed business in Nova Scotia for at least one continuous year, before they can apply for provincial nomination that will lead to permanent residence in Canada.

Eligibility requirements

  • Minimum age of 21 years
  • Minimum net business and personal assets worth $600,000 CAD. The assets have to be verified by third party professionals designated by the NSOI
  • Minimum three years of experience in owning a business with at least 33.33 per cent ownership. Otherwise the candidate must have at least five years of experience as a senior business manager. The experience must have been acquired within the last 10 years
  • Ready to invest at least $150,000 CAD to set up a new business or acquire an existing business in Nova Scotia.
  • Proficiency in English or French equal to Canadian Language Benchmark (CLB) 5 in all four components (listening, speaking, writing and reading).
  • Education level equal to at least a Canadian high school diploma. If the qualification was acquired from outside Canada, the candidate must also submit the results of Educational Credential Assessment (ECA).
  • Submit a Business Establishment Plan and demonstrate in-depth knowledge of the plan
  • Intent to reside in Nova Scotia

Eligibility criteria for business

  • The candidate must own at least one third (33.33 per cent) of the total equity of the business
  • The candidate must reside close to the location of the business and actively manage the business on a day-to-day basis. He/she is not supposed to operate the business from another location in Nova Scotia or from outside the province or the country.
  • The business has to be a for-profit entity
  • The business must meet all the legal requirements of the community in which it operates
  • Comply with all the tax-related rules of the province
  • Prove to be economically beneficial to Nova Scotia
  • Create at least one full-time employment opportunity for a Canadian citizen or permanent resident in Nova Scotia(non-relative workers)

How to apply

The first step for a candidate to apply through the Entrepreneur category of the Nova Scotia Nominee Program is to submit an Expression of Interest. Each Expression of Interest profile is then assigned a score based on a number of selection factors. The highest scoring candidate will be invited to apply in the draws that are conducted periodically. The invited candidates can submit the complete application along with the business establishment plan and a net worth verification report. If the application is accepted, the candidate will be invited for a personal interview. Upon successfully completing the interview, he/she can sign a business performance agreement. After signing the agreement, the candidate will receive a letter of support for a temporary work permit. If the candidates meet all the conditions in the business performance agreement, they can apply for permanent residence in Canada after 12 months.

Expression of Interest ranking system

The Expression of Interest profiles are ranked on the basis of the following selection factors. Though there is no minimum score, only the highest scoring candidates are invited to apply.

Selection factorsMaximum Points
Language abilities35
Education25
Business ownership or senior management experience35
Net worth10
Age10
Adaptability10
Nova Scotia economic priorities10
Investment15
TotalMaximum 150 points

 

A high quality of life and great opportunities to grow are what make Canada an attractive destination for immigrant entrepreneurs and investors. Contact us if you want to know more about your options to make Canada your permanent home.

 

 

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