Applicant Requirements

To qualify under NLPNP International Entrepreneur Category, an applicant must:

• Be at least 21 years and no more than 59 of age;
• Provide a business plan with supporting financial documentation verified by a recognized third-party professionals.
• Have a minimum of Canadian high school diploma or equivalent foreign credential verified by an Education Credential Assessment (ECA).
• Want to live permanently in Newfoundland and Labrador while owning and actively managing a local business.
• Have at least $600,000 CAD in unencumbered net business and personal assets.
• Be able to invest at least $200,000 CAD of their own money to establish a business in the Newfoundland and Labrador with a minimum ownership of 33.3 per cent, or $1million in equity investment.
• Demonstrate ability to create at least one (1) full-time equivalent job for the local population.
• Have at least two (2) years’ experience actively managing and owning a business (25 per cent minimum ownership) in the last five (5) years OR five (5) or more years’ experience in a senior business management role in the last ten years.
• Have a score of at least five (5) on the Canadian Language Benchmark in English of French.

Business Requirements

Following are the requirements for applicant’s business:

• The applicant must provide active and on-going participation in the day-to-day management and direction of the business.
• Businesses must meet the legal requirements of the community in which they operate.
• The business must be a for-profit entity with the primary purpose of earning profits through the sale of goods and/or services.
• The business is liable to pay income tax on taxable income earned as a result of a “permanent establishment” in Newfoundland and Labrador, irrespective of income or other taxes which may also be payable in other jurisdictions as a result of income earned or other business activity.
• The business must be actively managed by the applicant from the place of business in Newfoundland and Labrador.
• The business must not be managed from another location in Newfoundland and Labrador or from another Canadian province or territory or other country.
• The business must have the potential to create significant economic benefit to Newfoundland and Labrador. 

Additional Criteria When Starting a New Business

If the applicant is starting a new business then, the applicant must create a minimum of one full-time equivalent employment opportunity for a Canadian citizen or permanent resident in Newfoundland and Labrador. This position must:

• Be over and above any position filled by the approved applicant.
• For clarity, jobs created for or filled by dependents or relatives of the applicant are not eligible;
• Position must be relevant and directly related to the applicant’s business; and
• Position must meet the prevailing wage levels.

Additional Criteria When Purchasing a New Business

• The business must have been in continuous operation by the same owner for the previous five (5) years;
• All applicants purchasing or partnering in an existing business must complete an exploratory visit to meet the current owner(s) if the applicant is applying from outside of the province;
• Applicants must provide evidence that reasonable efforts were taken to establish a fair market value for the business;
• The business must be actively in operation and not in receivership; and
• Applicants must offer employment on similar terms and conditions to existing staff, including maintaining existing wages and employment terms.