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Newfoundland introduces Two New Immigration Streams for Entrepreneurs

Details of NewFoundland Immigration

Immigration authorities in Newfoundland and Labrador have announced the launch of two new streams exclusively for entrepreneurs. It has also added International Entrepreneur and International Graduate Entrepreneur streams to its Provincial Nominee Program. Its previous entrepreneur stream closed in 2010. Presently, there are no details regarding the precise requirements in these new streams, announced on July 30 2018. A guess is that both streams will involve a process of two stages. The candidates must establish their businesses remaining in Canada on a work permit, before seeking nomination for Canada PR. Here are a few details outlined at the announcement of new streams.

The Requirements for International Graduate Entrepreneur Stream

• It is Open to immigrants who intend to start, join or supervise a provincial business. • Being a graduate of Memorial University or College of the North Atlantic is compulsory. • Completing a two years program. • Having benchmark level of 7 in an official language. • Having one year experience in supervision or owning of a provincial business. • Candidates need to establish self and their business working on a temporary permit, before seeking PR nomination after one year. • There is no requirement for straight investment.

The Requirements for the International Entrepreneur Stream

• It is Open to immigrants who have an age between 21 to 59 years. • Transferring $500,000 in net business/personal assets to the province. • Two year experience in managing a business. • Candidates need to establish self and their business working on a Canada temporary work permit, before seeking PR nomination after one year. Under both streams, the candidates will face regular audits for meeting all requirements. Newfoundland has immigration streams in Express Entry for Skilled Workers, Skilled Workers stream as well as an International Graduates stream. The province also participates in the Atlantic Immigration Pilot, which is a joint initiative of Federation and Provinces to seek and retain skilled immigrants and global graduates to the region. Under this Pilot, candidates get help to compose a settlement plan. They must obtain a provincial endorsement prior to getting Canada permanent residence.

More target

The federal government increased the 2018 Pilot quota by 500 and now 2,500 candidates can join in it. Through the immigration level plan, the Federal Government also has an expectation, to annually accept, 4,000 fresh candidates, by 2020 in this Pilot.

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