Nova Scotia Entrepreneur Program

Nova Scotia Entrepreneur Program

The Nova Scotia Entrepreneur Program is designed for experienced business owners or senior business managers who want to live in the province. If you want to apply for this program, you must be ready to start a new business or buy an existing business in Nova Scotia. Also, you must actively participate in the day-to-day management of this business and after one year of operating the business, you may be nominated for permanent resident status. It is worth mentioning, that application to the Entrepreneur Stream is only by invitation.

Before applying for the Nova Scotia Entrepreneur Program, please check the mandatory requirements that include:

• Age - you must be 21 years of age or more;
• Residency - you must want to live permanently in Nova Scotia, own and actively manage a Nova Scotia business;
• Net worth - your net worth must be at least 600,000 CAD;
• Investment - you must be ready to invest at least 150,000 CAD of your own money to establish a business in the province of Nova Scotia;
• Experience - you must demonstrate at least three years of active experience in managing and owning a business (1/3 business ownership minimum) or you can demonstrate more than five years of experience as a senior business manager;
• Language proficiency - you must have a score of at least 5 on the Canadian Language Benchmark in English or French;
• EOI - you must complete an online Expression of Interest;
• ITA - finally, you must receive an Invitation to Apply from the Nova Scotia Office of Immigration.

If you decide to apply for the Nova Scotia Entrepreneur Program, here are six steps an applicant must complete:

1. Express an Interest;
2. Receive an Invitation to Apply;
3. Visit an in-person interview and sign a Business Performance Agreement;
4. Receive a Work Permit and establish a business in the province of Nova Scotia;
5. Request a Nomination;
6. Apply for Permanent Residence.

The Nova Scotia Entrepreneur Program(NSNP) does not demand an application fee. Though, some fees associated with obtaining and preparing the required documents for the Entrepreneur Stream may be charged. All the required by the Government of Canada immigration fees must be paid when you submit your file to the IRCC.

If you choose to use a paid immigration representative to conduct business on your behalf with the Province of Nova Scotia, remember to check whether your representative is a member in good standing of the Immigration Consultants of Canada Regulatory Council (ICCRC) or is a lawyer or paralegal who is a member in good standing of a Canadian Law Society. A student-at-law under the supervision of a lawyer or paralegal who is a member in good standing of a Canadian Law Society may also be your representative. A notary public who is a member in good standing of the Chambre des notaires du Québec or a student-at-law under their supervision can also be accepted by the norms of the Nova Scotia Entrepreneur Program.

To apply for the Nova Scotia Entrepreneur Program, candidates must meet the following minimum mandatory eligibility criteria:

• Posses at least 600,000 CAD in unencumbered net business and personal assets that are available for transfer to Canada. The sum must also be verified by NSOI-designated third party professionals;
• Prove that the claimed net worth was accumulated through legal means, and verify that by NSOI designated third party professionals;
• Demonstrate at least three years of business ownership experience including 33.33% ownership in the last ten years; five years of experience in a senior business manager role in the last ten years is also acceptable;
• Show the necessary level of English or French language proficiency according to the Canadian Language Benchmark (CLB) 5. The results must be verified by the Canadian English Language Proficiency Index Program General test, International English Language Testing System General Training test, Test d’évaluation de français (TEF-Canada), or Test de connaissance du français. Any of these tests must be taken within two years prior to the date of the EOI submission;

• Have at least a Canadian high school diploma or its foreign equivalent verified by an Educational Credential Assessment (ECA), that was received a minimum of five years prior to the date of the EOI submission;
• Readiness to make a capital investment of 150,000 CAD or more to establish a business in the province of Nova Scotia;
• Desire to live in Nova Scotia permanently.

To apply for the Nova Scotia Entrepreneur Program, the applicant’s proposed business must also meet the following mandatory criteria:

• At least one-third of the equity of the business must be owned by the applicant;
• You must be ready to provide active and day-to-day management and direction of the proposed business in Nova Scotia
• All the legal requirements of the community in which the business operates must be met;
• The primary purpose of your proposed business must be earning profits through the sale of goods or services;
• The business must be a “permanent establishment” as defined under the Canadian Income Tax Regulations, 1985;
• Your proposed business must be liable to pay income tax on taxable income earned as a result of a “permanent establishment” in Nova Scotia;
• It is important that the business be actively managed by you from the proposed place of business in Nova Scotia;
• Your business must demonstrate the potential to create significant economic benefits to the province of Nova Scotia.

 

Remember there are two categories within the Nova Scotia Entrepreneur Program, for those applicants who plan to start a new business or those who plan to purchase an existing business. If you plan to start a business in New Brunswick, you are obliged to create a minimum of one full-time or equivalent part-time employment opportunity for a Canadian citizen or Permanent Resident in the province of Nova Scotia (excluding your family members). This job must be over and above any position filled by the approved applicant, and also be relevant and related to the applicant’s proposed business, meeting the prevailing wage levels. If you plan to purchase an existing Nova Scotia business, it must have been in continuous operation by the same owner in Nova Scotia for the previous five years. Also, you must complete an exploratory visit to meet the current owners and demonstrate that reasonable efforts were taken to establish a fair market value for this business. Remember, this business must be actively in operation and you must offer employment on similar terms and conditions to existing staff.

 

Regards,

International Experience Club

Contact us