The Immigration and Population Growth (IPG) Branch of Nova Scotia's Department of Labour, Skills and Immigration (LSI) has announced the official permanent relaunch of the International Graduate Entrepreneur and Entrepreneur Streams, effective February 26, 2024. These programs offer valuable pathways to permanent residency in Nova Scotia for qualified individuals seeking to establish or acquire businesses in the province.
Key Highlights:
Program Permanency: Both streams are now permanent, providing greater stability and clarity for potential applicants.
Streamlined Application Process: A new online application system simplifies the application process.
Strategic Invitation to Apply (ITA) Issuance:IPG can now strategically issue ITAs to support Nova Scotia's key economic sectors.
Enhanced Business Support: IPG will actively work with partners to connect potential buyers with existing businesses.
Real Estate Development and Construction Eligibility: These businesses are now conditionally eligible, subject to demonstrating a compelling benefit to the province.
Entrepreneur Stream:
This stream targets experienced business owners and senior managers who wish to establish or acquire a Nova Scotia business and actively manage it. After one year of successful operation, eligible applicants may be nominated for permanent residency.
Eligibility:
Minimum age of 21
Intention to reside permanently in Nova Scotia while owning and managing a Nova Scotia business
Minimum net worth of $600,000 CAD($400,000 CAD outside Halifax Regional Municipality (HRM))
Minimum investment of $150,000 CAD($100,000 CAD outside HRM) in the Nova Scotia business
Minimum 3 years of business ownership and management experience (1/3 ownership minimum) or 5+ years of senior business management experience
Canadian Language Benchmark (CLB) score of 5 or higher in English or French
Completed online Expression of Interest (EOI)
Invitation to Apply received from LSI
2. International Graduate Entrepreneur Stream:
This stream caters to recent graduates of Nova Scotia universities or the Nova Scotia Community College who have already established and operated a Nova Scotia business for at least one year. If they intend to settle in Nova Scotia, they may be nominated for permanent residency.
Eligibility:
Intention to reside permanently in Nova Scotia while owning and managing a Nova Scotia business
Minimum of one year of continuous business ownership and management experience (33.33% ownership minimum)
Completion of a degree or diploma program requiring at least 2 years of full-time, in-person study at a Nova Scotia university or college
Valid post-graduation work permit
CLB score of 7 or higher in English or French
Completed online EOI
Invitation to Apply received from LSI
What next?
The relaunch and updates to the Nova Scotia Entrepreneur Streams present significant opportunities for both immigration professionals and aspiring entrepreneurs seeking to establish themselves in the province.