Newfoundland Introduces New Immigration Options for Entrepreneurs

The team members at Racer Immigration always keep an open mind when it comes to finding places for prospective immigrants moving to Canada. As a full-service immigration company, they know that opportunities can come from unlikely places. For example, beautiful Newfoundland is currently offering opportunities to budding entrepreneurs.

The province recently announced two new immigration categories for entrepreneurs.

Graduates of Memorial University and College of the North Atlantic with a Post-Graduation Work Permit can apply for the International Graduate Entrepreneur Category.

The International Entrepreneur Category, on the other hand, is aimed at foreign nationals who want to “create, join, or take over” a business in Newfoundland and Labrador. Those accepted through this category would receive a Temporary Work Permit to establish and operate their business.

Applicants to either category will have to own and actively operate their business in the province for at least one year before they can apply for a provincial nomination for permanent residence.

To be eligible, a Graduate Entrepreneur will have to have completed at least a 2-year program and have a Canadian Language Benchmark of 7 in English or French, as well as one year’s experience in managing and owning a business.

An International Entrepreneur, on the other hand, will need a CLB of 5, $600,000 in net business and personal assets, $200,000 ready to invest in a new or existing business, and at least two years’ experience managing and owning a business (or more than five years’ experience in a senior business management role).

Racer Immigration is more than happy to help guide applicants through the process. If you’re intrigued with the idea of gaining entry to Canada by starting or running a business, contact Racer Immigration at (778) 688-4848.

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