Eligibility Requirements

To be eligible under NLPNP International Graduate Entrepreneur category, the applicant must:

• Be at least 21 years of age;
• Provide a business continuity plan with supporting financial documentation verified by a recognized third-party professional service;
• Have completed a degree or diploma after at least two (2) academic years of full-time, in-person study at Memorial University or College of the North Atlantic with the degree or diploma having been completed within two (2) years of submission of the Expression of Interest;
• Have a valid post-graduate work permit;
• Want to live permanently in Newfoundland and Labrador while owning and actively managing a local business that has the potential to create significant economic benefit to Newfoundland and Labrador;
• Have at least one (1) year’s continuous experience actively managing and owning the current business (33.3 per cent minimum ownership);
• Demonstrate ability to create at least one full-time equivalent job for the local population;
• Demonstrate that the business is a for-profit entity with the primary purpose of earning profits through the sale of goods and/or services;
• Have a score of at least seven (7) on the Canadian Language Benchmark in speaking, listening, reading and writing in English or French;
• Complete an online Expression of Interest; and
• Receive an Invitation to Apply from the Office of Immigration and Multiculturalism.
• Also, applicants intending to support regional economic development or focus on high-demand industries or sectors, (e.g. Agriculture, Aquaculture, Technology, Natural Resources) will receive priority consideration.

Business and Financial Criteria

Applicants must also meet the following business and financial eligibility criteria:

• Own, operate, and actively manage a business in Newfoundland and Labrador for at least one (1) continuous year prior to the date of EOI submission.
• Applicants must own at least 33.3% of the equity of the eligible business and provide active and on-going participation in the day-to-day management and direction of the business.
• The applicant must demonstrate that they are receiving compensation in the form of a salary from the business, which must, at minimum, meet the Low Income Cut-Off (LICO) as defined by Statistics Canada.
• The eligible business must be producing revenue and earning sufficient profits to allow the owner to become economically established in the province. An Audit Opinion and Special Purpose Report from a certified Audit Verifier will be required to assess the financial health of the business.

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;
• 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.