Eligibility Criteria

International Entrepreneur – Who Can Apply?

To qualify, you must:

  • Be 21 to 59 years old
  • Submit a business plan with verified financial documents (you cover the cost)
  • Have a Canadian high school diploma or equivalent (verified by an ECA done within the last 5 years)
  • Want to live in Newfoundland and Labrador permanently and actively manage a business that benefits the province
  • Have at least $600,000 CAD in personal and business assets that can be transferred to Canada
  • Be ready to invest at least $200,000 CAD in a business (own at least 33.3%) or invest $1 million CAD in equity
  • Create at least one full-time job for a Canadian citizen or permanent resident
  • Own or manage a for-profit business
  • Have either:
    • 2+ years of business ownership and management (25%+ ownership) in the last 5 years, or
    • 5+ years in a senior management role in the last 10 years
  • Score CLB 5 or higher in English or French (CELPIP, IELTS, or TEF accepted)
  • Submit an Expression of Interest (EOI) and receive an Invitation to Apply (ITA)

Applicants focused on regional development or high-demand sectors (like agriculture, aquaculture, tech, or natural resources) get priority.

Exploratory Visit Required

If you’re applying from outside Newfoundland and Labrador, you must visit the province before submitting your official application.

Two Business Streams

  1. Starting a New Business

You must create at least one full-time job for a local resident that:

  • Is not filled by a family member
  • Is directly related to your business
  • Pays a fair, competitive wage
  1. Buying an Existing Business

You must ensure:

  • The business has been running under the same owner for the past 5 years
  • You meet the current owner during your exploratory visit
  • The purchase price reflects fair market value
  • The business is active and not in receivership
  • You keep current staff with the same wages and conditions

Who Can’t Apply

You’re not eligible if you are:

  • Living illegally in your country
  • Under a removal order from IRCC or CBSA
  • Banned from entering Canada
  • A passive investor (not involved in daily business operations)
  • Without legal status (until it’s restored)

Ineligible Businesses

The following types of businesses are not allowed:

  • Remote businesses (run from outside NL or Canada)
  • Property rental, leasing, or investment businesses
  • Real estate, insurance, or business brokerages (unless proven to benefit NL)
  • Regulated professional services or self-employment
  • Payday loans, cheque cashing, money exchange, ATMs
  • Pawn shops or taxi companies
  • Home-based businesses (unless proven to benefit NL)
  • Adult content or services
  • Non-profits
  • Passive investment businesses
  • Commission-only jobs
  • Any business that could harm the reputation of the program or government