Canadian province creates new opportunities for Overseas Entrepreneurs

Canadian province creates new opportunities for Overseas Entrepreneurs

On July 30, 2018, Newfoundland and Labrador introduced two new Immigration programs. The programs endorse entrepreneurship. The two programs conducted by the province are –

  • The International Graduate Entrepreneur Category
  • The International Entrepreneur Category

The International Graduate Entrepreneur Category

Graduates who studied in the province will get a Temporary Work Permit. They must hold a Post-graduation Work Permit. Also, they should create, own or manage a business in the province.

The International Entrepreneur Category

This program encourages Overseas Entrepreneurs to own a business in Newfoundland and Labrador. As quoted by CIC News, they would receive a Temporary Work Permit.

Overseas Entrepreneurs must stay in the province for 1 year. Thereafter, they can apply for provincial nomination to receive Permanent Residency.

Eligibility requirements

Overseas Entrepreneurs must submit an Expression of Interest. It is to let the Government know that they are interested in the programs.

Next, the Immigration Department will check whether the applicant meets the following criteria.

International Graduate Entrepreneur

  • Overseas Students should graduate from the province’s post-graduation Institutes
  • The course was at least 2-year long
  • They have scored at least 7 in the English or French language test
  • Candidates must hold at least 1 year of experience in managing a business

International Entrepreneur

  • Candidates from age 21 to 59 can apply
  • They must meet Canadian Language Benchmark 5 in English or French language
  • They must own $600000 new business assets and should be able to transfer them to the province
  • Overseas Entrepreneurs must be ready to invest $200000 in a new business
  • They should hold at least 2 years of experience in managing a business

The Newfoundland and Labrador Government wants to endorse Overseas Immigration. This way the province will get new jobs and businesses. That, in turn, will help improve the country’s economy and living standards of the province.

The Minister of Advanced Education Al Hawkins said Overseas Entrepreneurs can help the province. The Government announced the two programs at a news conference held in July. The event took place in a new startup office. Two successful Overseas Entrepreneurs had founded the tech startup. They graduated from the Memorial University in the province. This proves that Overseas Immigrants can land a promising career in the province.

Y-Axis offers a wide range of visa and immigration services as well as products to overseas immigrants including Business Visa for Canada, Work Visa for Canada, Canada Migrant Ready Professional Services for Express Entry Full Service, Canada Migrant Ready Professional Services for Express Entry P R Application, Canada Migrant Ready Professional Services for Provinces, and Education Credential Assessment. We work with Regulated Immigration Consultants in Canada.

If you are looking to Study, Work, Visit, Invest or Migrate to Canada, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.

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