With increasing growth of population and economic activities in Atlantic Canada, Government of Nova Scotia Entrepreneur Immigration Streams stands out as a tool for attracting business-minded and rich immigrants to invest in Nova Scotia. Nova Scotia has many viable cities for business.
In this article, you are certain to get all the necessary information on the Nova Scotia entrepreneur immigration, such as eligibility and minimum fund requirements, how to apply for NS Business Streams, and documents you may need to be nominated.
Nova Scotia entrepreneur immigration
The Nova Scotia entrepreneur immigration offers a permanent resident status route, providing support for entrepreneurial candidates as well as their family to establish and operate a business in Nova Scotia.
Without a doubt, the Nova Scotia entrepreneur stream is part of the Nova Scotia Nominee program (i.e a provincial nominee program that is operated by the province of Nova Scotia). Unquestionably, the target of the Nova Scotia stream is to welcome senior business managers or experienced business owners who are willing to work and live in Nova Scotia.
Therefore, applicants are welcome to apply for the Nova Scotia PNP entrepreneur program. Selected applicants will receive a temporary working work permit that will allow them to start a business in Nova Scotia. So, after a year of operating a business, the business owner can be nominated for permanent resident status.
Requirements for Nova Scotia entrepreneur immigration
Most certainly, to be eligible for the Nova Scotia entrepreneur immigration, applicants must meet and satisfy the following requirements
#1. Work experience
Undoubtedly, applicants must demonstrate a high level of management or business ownership experience to establish and run a business successfully in Nova Scotia.
Having work experience is very important since this is a business immigration stream. Therefore, business owners must have at least three years of work experience as business owners, while senior business managers must have at least five years of business management experience.
#2. Language proficiency
Language proficiency is very important to be eligible for the Nova Scotia entrepreneur stream. Not only must the candidate have the official language test score showing language proficiency, but also demonstrate proficient language proficiency. The language proficiency must be equivalent to the Canadian language benchmark of level 5 (or higher) in writing, listening, speaking, and reading.
These are the approved Language Testing agencies under the provincial nominee program for Nova Scotia entrepreneur immigration
- International English Language Testing System (IELTS) General Training
- Canadian English Language Proficiency Index Program (CELPIP) General test
- Test d’Evaluation Du Français (TEF)
#3. Investment fund requirements
To be eligible for the Nova Scotia investment immigration, you must have a personal net worth of not less than CAD 600,000. And successful applicants must be able to invest not less than CAD 150,000 in the business to establish and manage in Nova Scotia.
#4. Educational requirements
Also, candidates must have a Canadian high school diploma as the minimum educational qualification or a foreign credential that is equivalent to the Canadian high school diploma. Note that any foreign credential will get verification by an educational credential assessment in Canada to ascertain if the certificate is equivalent to a Canadian high school diploma.
NS Expression of interest points matrix
Without a doubt, when candidate expresses their interest in the Nova Scotia entrepreneur immigration program, a point matrix would be used to select the strongest applicants. Candidates with the strongest Nova Scotia PNP entrepreneur points are those whose economic and business priorities align with Nova Scotia has interests.
Undoubtedly, the Nova Scotia PNP entrepreneur point is based on 8 factors which are education, language abilities, management experience, level of investment in the business, adaptability, age, Nova Scotia priorities, and net worth.
The following are the selection factor and scorable points for Nova Scotia entrepreneur immigration
- Education: Maximum of 25 points
- Language abilities: Maximum of 35 points
- Business ownership or senior management experience: Maximum of 35 points
- Investment: Maximum of 15 points
- Adaptability: Maximum of 10 points
- Age: Maximum of 10 points
- Nova Scotia economic priorities: Maximum of 10 points
- Net worth: Maximum 10 points
The total scorable Nova Scotia PNP entrepreneur points are 150.
Submitting Nova Scotia entrepreneur immigration Online
Most certainly, to apply for the Nova Scotia entrepreneur immigration there are basically 6 steps to follow. They are:-
Step 1: Submit an EOI (Expression of Interest) to the Province of Nova Scotia
The first step to applying for the Nova Scotia entrepreneur immigration is to submit an expression of interest.
First and foremost, all prospective immigrants are to complete an EOI (expression of interest) in the form of a short online survey to indicate their interest in residing in Nova Scotia and operating a business there. To do this, candidates will provide all information about their management experience, investment, language, adaptability, education, net worth, and business.
So, all applicants that meet the criteria will submit the EOI. After submission, candidates will be assessed based on the point matrix. Then the score will add to the EOI pool
Basically, the EOI can remain in the pool for one year. However, if the EOI is not selected at this period, it will be removed from the pool. Afterward, the candidates can submit another EOI (if they choose to).
Step 2: Invitation to Apply
The second step to apply for the Nova Scotia entrepreneur immigration is receiving an invitation to apply.
Without a doubt, applicants that scores high will be notified by the Nova Scotia office of immigration to submit a formal application to the Nova Scotia nominee program in the form of an ITA (invitation to apply) letter. Thereafter, the completed applications received from candidates invited to apply will undergo an assessment by the NSOI.
A complete and successful application must contain the following
- A perfect and complete application form (to submit within 90 days of the issuance of the letter)
- All supporting documents (to submit within 90 days of the issuance of the letter)
- A business establishment (to submit within 90 days of the ITA letter)
- Network verification report from one of the NSOI’s designated Net Worth Verifiers (to submit within 180 days of the ITA letter).
Step 3: In-Person Interview and Business Performance Agreement
The third step to the Nova Scotia entrepreneur immigration is to attend an in-person interview with the NSOI official and receive a business performance agreement.
Importantly, all the interviews will take place in Nova Scotia within 60 days from the time the candidate is contacted. Interestingly, once the interview is a success the candidate will receive a business performance agreement to sign and review. (Note that, a business performance agreement is a legal agreement with the province that specifies the business sector that the business will operate, the amount of investment the candidates will make, and some other relevant information).
However, the failure to participate in the interview within the 60-day limit or unsuccessful interviews will result in the close of the application.
Candidates will be given an Entrepreneur Approval Letter by the NSOI, and instructions on how to apply for their IRCC (Immigration, Refugees and Citizenship Canada) for a work permit after receiving the business performance agreement.
Most certainly, candidates must apply for a work permit at the IRCC within two months of the date of the approval letter. Unfortunately, if the IRCC refuses the work permit application, the candidate will no longer be eligible for the Nova Scotia entrepreneur immigration program.
Step 4: Temporary Work Permit and Business Establishment in Nova Scotia
The fourth step to the Nova Scotia entrepreneur immigration is to obtain a temporary work permit and establish a business in Nova Scotia.
Not only will successful applicants land in Nova Scotia to establish a business, but also get to come with their families. However, applicants should settle in Nova Scotia within one year after receiving the entrepreneur approval letter.
Also, the applicant should start their business within 6 months of arrival in Nova Scotia on a work permit. After arrival at Nova Scotia, the approved applicants must attend meetings within 60 days with the NSOI officer. Basically, the purpose of this meeting is to give answers to questions that relate to the business performance agreement. The NSOI may also refer the candidate to all the relevant services providers for more information and guidance.
Step 5: Request for Nomination
The fifth step to the Nova Scotia entrepreneur immigration is to request for nomination.
Undoubtedly, after applicants meet the condition of the business performance agreements including operating the business for a minimum of one year, making a mandatory investment, and submitting a business establishment progress report, the candidates can then proceed to apply for nomination for permanent residence.
The request form for nomination will ask for details about the business, an audit opinion, as well as a special purpose report.
The NSOI will communicate the nomination decision to the applicant If nomination is successful. So, the applicants will receive a letter to confirm that the permanent residency approval.
However, the candidate will receive a refusal letter from the NSOI if application not successful. Thereafter, the candidate will be given ten days to submit additional information for consideration. Note that if the nomination is refused at this time, the decision cannot be appealed.
Step 6: Apply for Permanent Residence
The last step to the Nova Scotia entrepreneur immigration is to apply for permanent residence.
After nomination, the applicant must apply for permanent residence at the IRCC within 6 months. However, nomination by NSNP does not guarantee the successful issuing of a permanent resident visa. But if the visa officer gives its approval, the candidate will be confirming permanent residence. Then, candidates should provide a copy of the confirmation within 30 business days to the NSOI.
Frequently asked question
Is it possible to get a PR in Nova Scotia?
Yes, it is possible and easy to get a Nova Scotia Express entry immigration through the NSNP 2018
What is the cost of living in Nova Scotia?
Without a doubt, a single person’s monthly costs are about 0,601,114.71₫ (1,197.22C$) without house rent.
Most certainly, the Nova Scotia entrepreneur immigration program is worthwhile. Hence, individuals from all over the world can immigrate to Nova Scotia to establish a business. However, candidates must ensure to meet all requirements before applying