This stream is for experienced business owners and senior business managers intending to live in Nova Scotia and participate in the day-to-day management of the business. The NSNP Entrepreneur Stream is a temporary to permanent residence program whereby approved applicants are required to operate a business in the province of Nova Scotia on a valid work permit for a minimum of one continuous year prior to being nominated for permanent residence in Canada. It functions on an Expression of Interest (EOI) system.
The Nomination Process :There are six steps to the nomination process:
Step 1: Submit an Expression of Interest to the Province of Nova Scotia
Step 2: Invitation to Apply
Step 3: In-Person Interview and Business Performance Agreement
Step 4: Temporary Work Permit and Business Establishment in Nova Scotia
Step 5: Request for Nomination
Step 6: Apply for Permanent Residence
Requirements for Starting a Business
If starting a business, apart from fulfilling the mandatory requirements, the applicant must:
• Create at least one full time (or equivalent) employment opportunity for a Canadian citizen or permanent resident in Nova Scotia (non-relative workers). This position(s) must:
• Be over and above any position filled by the approved applicant;
• Be relevant and directly related to the applicant’s business; and
• Meet the prevailing wage rates in the province.
- • Be over and above any position filled by the approved applicant;
Requirements for Business Succession
If purchasing a previously existing Nova Scotia business, the following requirements must be met:
• The business must have been in continuous operation by the same owner for the previous five years;
• All applicants must complete an exploratory visit to meet the current owner(s):
• Applicants must provide evidence that reasonable efforts were taken to establish a fair market value for the business;
• The business must be actively in operation and not in receivership; and
• Applicants must offer employment on similar terms and conditions to existing staff, including maintaining existing wages and employment terms.
- • Applicants must provide evidence that reasonable efforts were taken to establish a fair market value for the business;