The Nova Scotia Nominee Programme (NSNP) Entrepreneur Stream is fundamentally tailored to draw those ambitious business people who want to either launch or get hold of a venture/firm and settle in Nova Scotia, on a permanent basis.
The category is meant for the skilled business proprietors and higher-ranking business managers planning to reside in the Canadian province and join in, in the everyday running or administration of the venture/firm.
The NSNP Entrepreneur Stream is a temporary to permanent residence scheme whereby the sanctioned candidates have to run a venture/firm in the province, on a lawful Work Permit, for not less than 1 nonstop year before getting nomination for the cherished Permanent Residence (PR) in the country. Expression of Interest (EOI) arrangement is used to run the scheme.
Bare Minimum Eligibility Requirements for Candidates
It is mandatory that the aspirants fulfill these minimum eligibility conditions:
- Be a minimum of 21 years old.
- Enjoy not less than 600,000 Canadian Dollars in unencumbered net business and personal assets that are freely obtainable for transfer to the Maple Leaf Country, duly validated by the NSOI-designated third party experts.
- Show the amassing of claimed net worth, via lawful methods, appropriately authenticated by the NSOI designated third party experts.
- Possess a Business Establishment Plan and be in a position to show an exhaustive knowledge of the same.
- Possess not less than three years of business proprietorship experience comprising 33.33% proprietorship during the previous decade, or more than five years of experience in a high-ranking business manager responsibility during the previous decade.
- Offer active and on-going participation in the daily running and direction of the firm/venture from the place of business in the province. It is obligatory that the firm/venture is not administered from another place in either Nova Scotia or from a different province or territory of the Maple Leaf Country or other nation.
- The firm/venture must be a for-profit entity with the chief object of making profits, via the sale of things and/or services.
- It is mandatory that the firm/venture fulfills the authorized terms &conditions of the specific society in which it runs.
- Have Canadian Language Benchmark (CLB) 5 in either English or French (CELPIP) General test, International English Language Testing System (IELTS) General Training test or Test d’évaluation de français (TEF) faced inside two years before the date the EOI is presented.
- Hold not less than Canadian high school diploma or comparable foreign credential authenticated by an Educational Credential Assessment (ECA), faced during the preceding 5 years.
- Come to an understanding to make an investment of not less than 150,000 Canadian Dollars, to set up a firm/venture in the province.
- Reach a decision to reside in the province.
It is compulsory that the said conditions are fulfilled by any person submitting an application to the Entrepreneur Class. It is the duty of the candidate to prove with the supporting papers/certificates.