Nova Scotia Entrepreneur stream

Nova Scotia Entrepreneur stream

The Nova Scotia Nominee Program (NSNP) Entrepreneur Stream is designed to attract individuals who wish to start or acquire a business and settle permanently in Nova Scotia.
This Nova Scotia Nominee Program (NSNP) stream is for experienced business owners and senior business managers intending to live in Nova Scotia and participate in the day-to-day management of the business.

Nomination Process

There are five steps to the nomination process:

1. Step 1: Submit an Expression of Interest (EOI) to the Province of Nova Scotia Prospective immigrants will indicate their interest in operating a business and residing in Nova Scotia by completing an Expression of Interest in the form of a short online survey, providing required information about their business ownership or management experience, language, education, investment, net worth, age, adaptability, and their business. Only applicants who meet the minimum criteria will be able to submit an EOI. Candidates will be assessed based on a points matrix according to their profile and then assigned a score.
2. Step 2: Invitation to Apply Top scoring applicants will be notified by the Nova Scotia Office of Immigration (NSOI) that they are being invited to submit a formal application to the Nova Scotia Nominee Program (NSNP). Complete applications received from those invited to apply will then undergo an assessment by NSOI.
3. Step 3: Temporary Work Permit and Business Establishment in Nova Scotia Successful applicants to NSOI will sign a Business Performance Agreement with NSOI, detailing the applicant’s plans to start or acquire a business in Nova Scotia. After entering into the Business Performance Agreement, NSOI will provide a NSNP Entrepreneur Approval Letter which the applicant will include in their application to Citizenship and Immigration Canada for a two-year work permit. If the applicant is successful in obtaining the work permit, applicants will be able to land in Nova Scotia with their family, settle, and start or acquire their business.
4. Step 4: Request for Nomination Once an applicant satisfies the conditions of the Business Performance Agreement, including, but not limited to, making the mandatory investment, operating the business continuously for a minimum of one year, and submitting a Business Establishment Progress Report to NSOI, they can then apply to be nominated for Permanent Residency by the Province of Nova Scotia under the Nova Scotia Nominee Program.
5. Step 5: Apply for Permanent Residence Upon nomination, the applicant applies to Citizenship and Immigration Canada for Permanent Residence status.

Eligibility Criteria for the Nova Scotia Entrepreneur Stream

Minimum Requirements for Applicants

In order to be eligible under the NSNP Entrepreneur Stream, applicants must:

1. Be at least 21 years old;
2. Have a minimum $600,000 CAD in Net Business and Personal Assets, verified by NSOI designated third party professionals;
3. Demonstrate accumulation of claimed net worth through legal means, verified by NSOI designated third party professionals;
4. Have a minimum of three years of business ownership experience including 33.33 percent ownership OR greater than five years of
5. experience in a senior business manager role in the last 10 years;
6. Agree to make a minimum capital investment of $150,000 CAD to establish or purchase a business in Nova Scotia;
7. Have a minimum of a Canadian high school diploma OR an equivalent foreign credential verified by an Educational Credential Assessment
8. (ECA), which is dated within the five years prior to the date of EOI submission;
9. Have a Business Establishment Plan and be able to demonstrate an in-depth knowledge of the plan;
10.  Agree to reside in Nova Scotia.
11. Demonstrate sufficient language abilities in either English or French verified by an approved language testing agency;
12. Sufficient language abilities are considered to be Canadian Language Benchmark (CLB) 5 in all four components (listening, speaking, writing and reading).

The following are the approved language testing agencies under the PNP:

English:

1. Canadian English Language Proficiency Index Program (CELPIP) General test
2. International English Language Testing System (IELTS) General Training

French:

1. Test d’Evaluation Du Français (TEF)

Language tests must be taken within two years prior to the date of EOI submission.

In order to qualify as an eligible business under the Entrepreneur program, several criteria must be met:

1. The applicant must own at least one third (33.33%) of the equity of the business;
2. The applicant must provide active and on-going participation in the day to day management and direction of the business;
3. The business must be a for-profit entity with the primary purpose of earning profits through the sale of goods and/or services;
4. The business must be considered a “permanent establishment” as defined under subsection 400(2) of the Canadian Income Tax Regulations, 1985;
5. The business is liable to pay income tax on taxable income earned as a result of a “permanent establishment” in Nova Scotia, 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 have potential to create an economic benefit to Nova Scotia. For example:

1. Increasing value added manufacturing or processing, exports, destination tourism, research and development, and technology commercialization;
2. Developing innovative approaches to traditional businesses;
3. Transferring technology and specialized knowledge to Nova Scotia;
4. Providing products or services to an under-served local or regional market.

Nova Scotia Entrepreneur Ranking System

The Nova Scotia Entrepreneur stream uses the following system to rank candidates who have submitted Expressions of Interest (EOIs). There is no minimum score, but only those candidates with the most competitive scores will be invited to apply to the program.
Overview of Factors

1. Language
2. Education
3. Business Ownership or Management Experience
4. Net Worth
5. Age
6. Adaptability
7. Economic Priorities
8. Investment

Ineligible Businesses

1. Businesses that are conducted remotely (from another Canadian jurisdiction or from another country).
2. Property rental, investment, and leasing activities.
3. Real estate construction/development/brokerage, insurance brokerage or business brokerage; unless the applicant can demonstrate that their
4. business will provide a compelling benefit to the Province.
5. Professional services or self-employed business operators requiring licensing or accreditation.
6. Pay day loan, cheque cashing, money changing and cash machines.
7. Pawnbrokers.
8. Credit unions.
9. Home-based businesses; unless the applicant can demonstrate that their business will provide a compelling benefit to the Province.
10. Co-operatives.
11. Investments into a business operated primarily for the purposes of deriving passive investment income.
12. Businesses involved in the production, distribution or sale of pornographic or sexually
13. explicit products or services, or in the provision of sexually-oriented services.
14. Joint ventures between NSNP program applicants.
15. Any other type of business that by association could bring the NSNP or the Government of Nova Scotia into disrepute.