Nova Scotia Business PNP
Nova Scotia is an eastern province on Canada’s coast. It has some special programs to help people come and live there. The province has some programs to bring people to the province if they are good for the economy. They are designed to attract people and retain them to fill the gaps in the workforce and contribute to the local communities and economies.
1. Nova Scotia Entrepreneur – Nova Scotia Business PNP
The Nova Scotia Entrepreneur Stream is for experienced business owners and senior business managers. They need to have a good amount of money and be willing to start or buy a new business in Nova Scotia. After a year, you might get permanent residence.
Language Proficiency
To qualify for the Nova Scotia Entrepreneur stream, you need to have a language test that shows that you can speak English as well as a Canadian who is at CLB level 5 or higher.
Work Experience
This is a business immigration stream. To be eligible, you must have experience running your own business or managing someone else’s. You will need to demonstrate that you have at least three years of running your own business or five years of managing someone else’s.
Investment Requirement For Nova Scotia Business
Candidates should have a personal net worth of CAD 600,000. Also, the successful applicants have to invest a minimum of CAD 150,000 in any Nova Scotia business they will establish and manage.
| Requirement | |
|---|---|
| Express Entry Profile | No |
| Connection to Province | No |
| Job Offer | No |
| Language Proficiency | CLB 5 |
| Level of Education | No minimum |
| Work Experience | 3 years business ownership or 5 years senior business management |
| Investment Requirement | Investment: CAD 150,000 Personal Net Worth: CAD 600,000 |
Qualifying Conditions for Nova Scotia’s Business Owner Path
To qualify for the Nova Scotia Nominee Program (NSNP) Business Owner category, candidates are required to:
- Attaining a minimum age of 21.
- Possessing a verified net worth of at least CAD 600,000 in both personal and business assets, confirmed by NSOI-designated professionals.
- Validating the accumulation of claimed net worth through lawful means, as verified by NSOI-designated professionals.
- Holding either a minimum of three years in business ownership with at least 33.33 percent ownership or over five years of senior business managerial experience in the last decade.
- Committing to a minimum capital investment of CAD 150,000 for establishing or buying a business in Nova Scotia.
- Demonstrating proficient language skills in English or French, rated at Canadian Language Benchmark (CLB) 5 across all language components.
- Taking language tests within two years before the Expression of Interest (EOI) submission date.
- Holding a Canadian high school diploma or equivalent foreign credential, authenticated by an Educational Credential Assessment (ECA) within five years before the EOI submission date.
- Drafting a comprehensive Business Establishment Plan and exhibiting a profound understanding of the plan.
- Consenting to reside in Nova Scotia.
Eligible businesses under the Entrepreneur program must fulfill criteria such as ownership equity, active management in Nova Scotia, for-profit nature, compliance with local legal requirements, classification as a “permanent establishment” per Canadian Income Tax Regulations, 1985, income tax liability in Nova Scotia, and the potential to contribute to the province’s economic growth through various means.
For those initiating a business or pursuing a business succession, additional conditions apply regarding job creation, exploration visits, fair market value establishment, operational status, and staff employment terms’ continuity.
What is the business establishment plan?
- The Business Establishment Plan serves as a strategic roadmap for settling and developing a business in Nova Scotia. It should prove the investment adequacy, the active managerial role of the applicant, and comprehensive research into the economic, market, and cultural aspects linked to the proposed business.
- It encompasses a detailed Action Plan for the business’s next two to three years, covering financial requisites, business commencement, hiring schedules, export plans, and more.
- Absolute familiarity with the plan is vital for the applicant’s eligibility; a lack of knowledge about its content may render the applicant ineligible.
- The plan, whether for purchasing an existing business or starting anew, must delve into core topics: the business concept, sales and marketing strategies, exploratory visits (for business succession cases), critical and risk factors, financial aspects, business associations, and human resource considerations.
- Sections such as the business concept must detail the industry, business description, ownership specifics, legal aspects, location, and geographical scope. The sales and marketing strategy should delineate market analysis, operational space, product/service offerings, distribution channels, operational hours, external services, and backed research.
- In cases of business succession, an exploratory visit report becomes integral, comprising details of stay, professional visits, activities, travel documents, contact details, and interactions with current business owners.
- Critical factors entail governmental regulations, insurance requirements, and anticipated challenges, while risk factors evaluate potential business risks and the applicant’s ability to address them.
- The investment/financial segment should outline the investment breakdown, forecasted expenses, funding sources, financial statements, and pro-forma financial forecasts over three years.
- Business relationships must list contracted service providers, and contributors to the plan, and human capital should detail managerial contributions, job creation for locals, staff retention plans, educational requirements, and the candidate’s relevant background or training for the proposed venture. In cases where the applicant lacks direct experience, a plan outlining how their skills or experiences could apply to the business becomes necessary.
Who are the ineligible applicants?
Those who fall under the following categories are deemed ineligible and should refrain from applying within this stream:
- Individuals with an ongoing refugee claim in Canada.
- Those residing unlawfully in their current country of residence.
- Individuals issued a removal order by IRCC or the Canada Border Services Agency.
- Individuals barred from entering Canada.
- Passive investors, i.e., individuals intending to invest in a Nova Scotia business with minimal or no engagement in its daily operations.
- Applicants lacking status; eligibility is only possible upon the restoration of their status.
Find out if you are eligible to get in Canada →
2. Nova Scotia International Graduate Entrepreneur – Nova Scotia Business PNP
Suppose you are a recent graduate of a Nova Scotia university or college who has started or bought a business in the province and operated it for at least one year. In that case, you might be eligible for nomination to immigrate to Nova Scotia.
To join this program, you have to submit an expression of interest. The Nova Scotia International Graduate Entrepreneur points grid will help assign a score. The people with the most competitive scores will be invited to submit an official application.
Language Proficiency
To qualify for the Nova Scotia Entrepreneur stream, you need to have a language test that shows that you can speak English and a CLB level 5 or higher.
Work Experience
In order to qualify, candidates must have been the owner or manager of a business in Nova Scotia for at least one year while holding an active work permit from Immigration Canada.
Level of Education
You must have completed a minimum two-year diploma or degree from an eligible university/college (DLI) in Nova Scotia apply for this position.
| Requirement | |
|---|---|
| Express Entry Profile | No |
| Connection to Province | Study Experience |
| Job Offer | No |
| Language Proficiency | CLB 7 |
| Level of Education | Post-secondary 2 years |
| Work Experience | Business ownership and management In Nova Scotia 1 year |
| Investment Requirement | None |
