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Nova Scotia Entrepreneur Stream
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Nova Scotia Entrepreneur Stream
Geographically, Nova Scotia is the second smallest province of Canada and a home to more than 1 million people. Don’t let the ‘second smallest province’ tag fool you! The province is rich in opportunities and applicants applying for business immigration to Canada, can consider Nova Scotia in their business venture. Nova Scotia Business Immigration Program is a temporary residency visa under which, upon selection, the candidates will be granted Work Permit (WP) which is valid for 2 years. After 1 year of continuous business operation in Nova Scotia, the applicants can apply for the Canada Permanent Residency permit.
- Nova Scotia is strategically located that helps to conduct and expand business considering the vibrant business infrastructure and less competition in the province.
- The province offers high quality of life, low pollution, and safe and secure environment, world renowned education institutions and healthcare facilities.
- One can enjoy improved lifestyle, affordable housing, and abundance of skilled professionals to join your business, positive business environment and constant Govt. support.
- Since the temporary work permit nature of the Visa, the immigration process is comparably faster and more efficient than other programs. Permanent Residency can be attained in 1 year.
- Economy of the province mainly relies on the services sector (Information technology & Telecommunications), Tourism and primary industries such as agriculture, fishing and mining
- Nova Scotia follows the Constitutional framework like other provinces and provide all the federal medical care and welfare program such as dental care, tuberculosis control, public health services, old-age assistance, and allowances for disabled and social development.
- The province has low unemployment rate and influx immigrants has improved the growth rate of the region and created more harmonious opportunities for all.
- As an entrepreneur or investor in Nova Scotia, you must identify the sectors that is in demand such as Real Estate. Housing and Office spaces are booming since the influx of immigrants in the province.
- Information technology, telecommunication, tourism or manufacturing are some of the domains wherein you can get maximum returns in the province.
This PNP business immigration Canada program is designed to attract talented Entrepreneurs and Investors who can start a new business venture or purchase an existing business in the province to contribute in growth and development of Nova Scotia. The program grants them work permit and eventually permanent residency in 1 year for the whole family. Under this programs, applicants must have:
- Investment – CAD 150,000
- Net Worth – CAD 600,000
Nova Scotia Entrepreneur Stream Process
First Stage – Expression of Interest Criteria and Process
- To begin the Canada business visa process for Nova Scotia, primarily you must meet the eligibility criteria of the program and Entrepreneur Points Grid.
- Must create the account on Govt. portal and submit your expression of interest towards the Nova Scotia Entrepreneur Stream.
After the submission, your will be given immigration points based on your EOI submitted and further selection will be based on your attained score. Higher the score
Second Stage – Invitation to Apply
- If your Expression of Interest EOI is selected by NSOI, then you will granted an ITA letter along with a file number.
- Next, you need to complete an application form.
- Furthermore, you need to provide supporting documents, Business Establishment Plan and Net-Worth Verification Report.
- NSOI will conduct complete review and evaluation of the application.
Third Stage – In Person Interview and Business Performance Agreement
- Upon assessment of the application and meeting the eligibility criteria, you will be contacted to participate in the in-person interview with NSOI official.
- You are required to visit Nova Scotia for the interview within 60 days of the NSOI’s request.
- After completing the successful interview, you will be granted a Business Performance Agreement.
- After Business Performance Agreement, NSOI will give Entrepreneur Approval Letter and guidelines to apply for Work Permit from IRCC
Fourth Stage – Work Permit and Business Establishment in Nova Scotia
- You must apply for the Work Permit from IRCC within 2 months of the receipt of Approval Letter from NSOI.
- It is highly recommended to start your business venture within six months of your Arrival.
Fifth Stage – Request for Nomination and apply for Permanent Residence
- After having conducting business and residing in Nova Scotia for minimum 1 year, you can request for the nomination.
- After getting nominated by the province, you apply for the Canada permanent residency permit.
Requirements and Process
Entrepreneur Stream Eligibility Requirements
- Must possess net business and personal assets worth of CAD 600,000 which must be verified by NSOI-designated third party Agents.
- Must be ready to make minimum capital investment of CAD 150,000 for Canada business PR
- Hold minimum 3 years of experience (Business Management) including 33.33% ownership in last 10 years or Hold more than 5 years as Senior Business Manager in last 10 years.
- Demonstrate Canadian Language Benchmark (CLB) 5 equivalent to IELTS (Reading 4.0, Writing 5.0, Listening 5.0, Speaking 5.0)
- Academic requirement minimum high school diploma equivalent assessed by ECA.
Entrepreneur Stream Documents Requirement
- NSNP 400 – Canada business visa application form and NSNP 50 (if using a representative)
- A detailed Business establishment plan
- Net-Worth Verification Report
- Travel Documents and passports of Self and spouse
- Proof of legal status in your country of residence, if other than your country of nationality (For e.g. Work Permit)
- Marriage Certificates and Child’s birth certificates
- ECA Assessment report of your Academic Documents
- Language Proficiency Test Results Copy (not older than 2 years) – IELTS or CELPIP for English, TEF or TCF for French
- Canadian Standard Resume
- Employment documents (reference letters) from all the previous employers (if working in a senior manager role)
- Business registration license of each enterprise owned
- Registration with taxation authorities and Proof of shareholding enterprise
- Financial statements from the business for the previous five (5) years
- Proof of exploratory visit to Nova Scotia
Entrepreneur Stream Processing Fees & Time
Unlike other programs, there is no provincial application fee or Canada business visa cost under the Nova Scotia Entrepreneur Stream. However, there may be associated fees related to document preparation of (e.g., education credentials, language testing, net worth verification, and translations, etc.)
The processing time for the program heavily depends on the application but since the process is transparent, the processing time may take up to 12 to 15 months.
Abhinav: India’s Most qualified Immigration Consultant for Entrepreneurs, Investors and HNI’s
- Only Immigration specialist having an expert team and experience in dealing with business and investor applications for almost 2 decades. This is highly demanding, high risk category of Immigration.
- Profile Assessment to identify the right country and program, viz. Residency by Investment or Citizenship by investment or Entrepreneur programs.
- Special advice for dependent/non-dependent children and parents.
- Special advice for clients having limitations of staying outside India for long.
- Documentation Guidance critical to acceptance including all important area of source and path of funds, business and personal net worth.
- Professional Business Plan Drafting.
- Market Research vis-à-vis Business for Sales listings and Start-up ideas.
- Online IELTS Coaching.
- Overseas Company Incorporation.
- Taxation planning and advice.
- Planning and coordinating Exploratory Visits with active assistance from Local associates.
- Start-up Guidance and coordination vis-à-vis Incubators, Angel Investors and Venture Capitalists.
- Application Process through licensed Immigration consultants/Attorneys.
- Turnkey services
- Concierge services for Premium clients
Fulfill your Canada Immigration Dreams with us, pick up your phone and dial (+91) 859 533 8595 for immediate free counselling or write to [email protected] for assistance on Business Immigration.
