Eligibility Criteria

Eligibility criteria for the International Graduate Entrepreneur category:

To qualify, an individual must:

  • Be at least 21 years old;
  • Provide a business continuity plan with supporting financial documentation verified by a recognized third-party professional service (applicants are solely responsible for payment of associated fees related to obtaining these documents);
  • Have completed a degree or diploma after at least two academic years of full-time, in-person study at Memorial University or College of the North Atlantic with the degree or diploma having been completed within two years of submission of the Expression of Interest;
  • Have a valid post-graduate work permit;
  • Want to live permanently in Newfoundland and Labrador while owning and actively managing a local business that has the potential to create significant economic benefit to Newfoundland and Labrador;
  • Have at least one year’s continuous experience actively managing and owning the current business (33.3 per cent minimum ownership);
  • Demonstrate ability to create at least one full-time equivalent job for local population (permanent residents and Canadian citizens);
  • Demonstrate that the business is a for-profit entity with the primary purpose of earning profits through the sale of goods and/or services;
  • Have a score of at least 7 on the Canadian Language Benchmark in speaking, listening, reading and writing in English or French;
  • Complete an online Expression of Interest; and
  • Receive an Invitation to Apply from the Office of Immigration and Multiculturalism.

Applicants intending to support regional economic development or focus on high-demand industries or sectors (e.g. Agriculture, Aquaculture, Technology, Natural Resources) will receive priority consideration.

International Graduate Entrepreneur – Additional Criteria

There are two streams within the International Graduate Entrepreneur category – Starting a New Business and Purchasing an Existing Business. Each stream has unique criteria in addition to the criteria noted above.

Additional Criteria When Starting a New Business

If starting a business, the applicant must create a minimum of one full-time year-round equivalent employment opportunity for a Canadian citizen or permanent resident in Newfoundland and Labrador. This position must:

  • Be over and above any position filled by the approved applicant. For clarity, jobs created for or filled by dependents or relatives of the applicant are not eligible.
  • Be relevant and directly related to the applicant’s business.
  • Meet the prevailing provincial wage levels.

Additional Criteria When Purchasing an Existing Business

If the applicant is purchasing an existing Newfoundland and Labrador business, all of the following apply:

  • The business must have been in continuous operation by the same owner for the previous five (5) years;
  • 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;
  • Applicants must offer employment on similar terms and conditions to existing staff, including maintaining existing wages and employment terms.

Ineligible Applicants for International Graduate Entrepreneur Category

  • An individual living illegally in one’s country of residence;
  • A person who has had a removal order issued against them by IRCC or Canada Border Services Agency;
  • A person who is prohibited from entering Canada;
  • A passive investor (individuals who intend to invest in a Newfoundland and Labrador business with very limited or no involvement in the day-to-day management of the business); and
  • An individual who does not have status (ineligible to apply until their status is restored).

Ineligible Businesses for International Graduate Entrepreneur Category

  • Businesses that are conducted remotely (from another Canadian jurisdiction or from another country);
  • Property rental, investment, and leasing activities;
  • Real estate construction/development/brokerage, insurance brokerage or business brokerage; unless the applicant can prove their business in one of these areas is of compelling benefit to the province;
  • Professional services or self-employed business operators requiring licensing or accreditation;
  • Pay day loan, cheque cashing, money changing and cash machines;
  • Pawnbrokers;
  • Taxi companies;
  • Home-based businesses; unless the applicant can prove their business will have a compelling benefit to the province;
  • Businesses involved in the production, distribution or sale of pornographic or sexually explicit products or services;
  • Not-for-profit businesses;
  • Investments into a business operated primarily for the purposes of deriving passive investment income;
  • Businesses operating primarily for the purpose of deriving investment income such as interest, dividends or capital gains;
  • Businesses that will compensate employees solely on the basis of commission; and
  • Any other type of business that by association could would tend to bring OIM, NLPNP, or the Government of Newfoundland and Labrador into disrepute.