Nova Scotia Entrepreneur Launched
The Entrepreneur Stream aims to attract individuals who wish to start or buy, and actively manage, a business in Nova Scotia.
Nova Scotia Entrepreneur Stream Launched
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.