Introduction
The Nova Scotia Nominee Program (NSNP) Entrepreneur Stream aims to attract ambitious individuals eager to establish or acquire a business and settle permanently in the vibrant province of Nova Scotia.
This stream caters specifically to seasoned business owners and senior managers looking to reside in Nova Scotia while actively managing their business operations.
Under the NSNP Entrepreneur Stream, successful applicants transition from temporary to permanent residency through a structured process. They must operate a business in Nova Scotia under a legal work license or permit for a minimum of one continuous year before becoming eligible for permanent residence nomination in Canada.
Operational Framework
The initiative functions on an Expression of Interest (EOI) system, where prospective candidates express their intent to participate and contribute to Nova Scotia's economic landscape.
By offering a clear pathway to permanent residency for entrepreneurial-minded individuals, the NSNP Entrepreneur Stream not only fosters economic growth but also enriches the cultural and social fabric of Nova Scotia.
Suitability Standards for the Nova Scotia Entrepreneur Stream
Minimum Requirements for Applicants
To qualify for the NSNP Entrepreneur Stream, applicants must meet the following criteria:
1. Age Requirement: Candidates must be 21 years old.
2. Financial Requirements:
- Net Assets: Possess a minimum of $600,000 CAD in combined net business and personal assets, verified by designated NSOI professionals.
- Source of Funds: Demonstrate the lawful accumulation of claimed net worth, also verified by NSOI designated professionals.
3. Business Experience:
- Ownership: Have at least three years of business ownership experience with at least 33.33% ownership, or over the past decade, have accumulated more than five years of experience as a senior business administrator.
4. Investment Obligation:
- Agree to invest a minimum of $150,000 CAD to initiate or attain a corporate or business in Nova Scotia.
5. Language Proficiency:
- Language Tests: Provide evidence of language proficiency in either English or French through approved tests like CELPIP General, IELTS General Training (for English), or TEF (for French).
- Minimum Requirement: Achieve Canadian Language Benchmark (CLB) 5 in all four elements (speaking, writing, listening, and reading).
6. Education Qualification:
- Educational Credential: Hold a Canadian high school diploma or an equivalent foreign credential assessed by an Educational Credential Assessment (ECA), dated within the last five years before the Expression of Interest (EOI) submission.
7. Business Plan:
- Plan Requirement: Present a comprehensive Business Establishment Plan and demonstrate a thorough understanding of its contents.
8. Residency Commitment:
- Agree to reside in Nova Scotia upon receiving nomination under the NSNP Entrepreneur Stream.
These criteria ensure that applicants not only meet financial and experiential benchmarks but also contribute to the economic and social development of Nova Scotia.
Minimum Requirements for Businesses Eligible Under the Entrepreneur Program
To be suitable as an entitled business under the Entrepreneur program, the following criteria must be met:
Ownership and Management
1. Equity Ownership:
- The candidate must own a minimum of one third (33.33 percent) of the ownership stake in the business.
2. Active Participation:
- The applicant must actively participate in the day-to-day management and direction of the business, conducted from within Nova Scotia. Management from other locations within Canada or internationally is not permitted.
Business Structure and Compliance
3. For-Profit Entity:
- The business must operate as a for-profit entity, primarily generating revenue through the sale of goods and/or services.
4. Legal Compliance:
- The business must adhere to all legal requirements specific to the community in which it operates.
5. Permanent Establishment:
- As per Canadian Income Tax Regulations, the business must qualify as a "permanent establishment" under subsection 400(2), indicating its substantial and continuous presence in Nova Scotia.
6. Tax Obligations:
- The business must be liable to pay income tax on taxable income earned from its operations in Nova Scotia, irrespective of other tax obligations in different jurisdictions.
Economic Contribution
7. Economic Benefit to Nova Scotia:
- The business must demonstrate potential economic benefits to Nova Scotia, such as:
- Enhancing value-added activities like manufacturing, processing, or exports.
- Contributing to destination tourism, research and development, or technology commercialization.
- Introducing innovative approaches to traditional business sectors.
- Transferring specialized knowledge or technology to Nova Scotia.
- Meeting local or regional market needs that are currently underserved.
These requirements ensure that businesses not only meet regulatory standards but also contribute positively to Nova Scotia's economic growth and development.
Additional Requirements for Starting a Business
Employment Creation
If starting a new business, applicants must also fulfill the following requirements:
1. Job Creation:
- Create at least one full-time (or equivalent) employment opportunity for a permanent resident or Canadian citizen in Nova Scotia (excluding relatives).
- The position(s) created must be additional to any roles filled by the applicant.
- Ensure that the position is directly relevant to the applicant's business.
- Meet the prevailing wage rates applicable in the province.
Additional Requirements for Business Succession
Purchasing an Existing Business
If purchasing an established Nova Scotia business, applicants must adhere to the following conditions:
1. Operational History:
- The business must have been continuously operated by the same proprietor for the previous five years.
2. Exploratory Visit:
- Complete an exploratory visit to personally meet with the current owner(s) of the business.
3. Fair Market Value:
- Provide evidence demonstrating efforts made to determine a fair market value for the business.
4. Operational Status:
- Ensure the business is actively operational and not in receivership.
5. Employment Continuity:
- Offer employment to existing staff under similar terms and conditions, including maintaining current wages and employment terms.
Expression of Interest Points Matrix
When candidates submit their Expression of Interest (EOI) in Step 1 of the Nova Scotia Entrepreneur Stream, a points matrix evaluates and selects the strongest applicants based on several criteria aligned with Nova Scotia’s economic priorities. Here’s a breakdown of the factors and their corresponding points:
| Selection Factor | Points |
|---|---|
| Language Abilities | Maximum 35 |
| Education | Maximum 25 |
| Business Ownership or Management Experience | Maximum 35 |
| Net Worth | Maximum 10 |
| Age | Maximum 10 |
| Adaptability | Maximum 10 |
| Nova Scotia Economic Priorities | Maximum 10 |
| Investment | Maximum 15 |
| Total | Maximum 150 |
Factor 1: Language Aptitudes in English and/or French
First Official Language:
| CLB Level | Speaking | Listening | Reading | Writing | Total Points |
|---|---|---|---|---|---|
| CLB level 7 or higher | 7 | 7 | 7 | 7 | 28 |
| CLB level 6 | 6 | 6 | 6 | 6 | 24 |
| CLB level 5 | 5 | 5 | 5 | 5 | 20 |
| Below CLB level 5 | Not eligible to apply | ||||
Second Official Language:
- At least CLB 5 in all four abilities: 7 points
Factor 2: Education
Education Level Points Table
| Education Level | Points |
|---|---|
| Degree at the Doctoral (PhD) level or equivalent from the University | 25 |
| Post-secondary degree at the Master’s level, or equivalent | 23 |
| Two or more Canadian post-secondary degrees or diplomas (at least one for 3+ years) | 22 |
| Canadian post-secondary degree or diploma for a program of three years or longer | 21 |
| Canadian post-secondary degree or diploma for a two-year program | 19 |
| Canadian post-secondary degree or diploma for a one-year program | 12 |
| Canadian secondary school education credential (high school), or equivalent | 8 |
| Less than secondary school | Ineligible |
Factor 3: Business Ownership or Management Experience
Business Experience Points Table
| Experience Description | Points |
|---|---|
| More than 5 years of business possession experience (minimum 33.33% ownership) in the last 10 years | 35 |
| More than 5 years of experience in a senior business management position in the last 10 years | 20 |
| 3-5 years of business ownership experience (minimum 33.33%) in the last 10 years | 20 |
Factor 4: Net Worth
| Net Worth | Points |
|---|---|
| Greater than $1.5 Million CAD | 10 |
| $1 Million CAD - $1.5 Million CAD | 7 |
| $600,000 CAD - $999,999 CAD | 5 |
| Less than $600,000 CAD | Ineligible |
Factor 5: Age
| Age | Points |
|---|---|
| Under 21 years | Ineligible |
| 21-24 years | 5 |
| 25-32 years | 7 |
| 33-39 years | 10 |
| 40-44 years | 7 |
| 45-55 years | 5 |
| 56 years and older | 0 |
Factor 6: Adaptability
| Adaptability Criteria | Points |
|---|---|
| Candidate's previous study in Nova Scotia | 10 |
| Spouse or common-law partner’s previous study in Nova Scotia | 5 |
| Candidate's previous work in Nova Scotia | 10 |
| Spouse or common-law partner’s previous work in Nova Scotia | 5 |
| Relatives in Nova Scotia | 5 |
| Spouse or common-law partner’s band of verbal ability (CLB 4 or higher in all four abilities) | 5 |
Factor 7: Nova Scotia Economic Priorities
| Nova Scotia Economic Priorities | Points |
|---|---|
| Export-oriented business | 5 |
| Proposed business location outside of Halifax Regional Municipality | 5 |
| Business succession | 5 |
Factor 8: Investment
| Investment Amount | Points |
|---|---|
| Greater than $300,000 CAD | 15 |
| $150,000 CAD - $300,000 CAD | 10 |
| Less than $150,000 CAD | Ineligible |
This points matrix ensures that candidates who align closely with Nova Scotia’s economic needs and priorities are selected for nomination under the NSNP Entrepreneur Stream, promoting economic growth and diversity in the province. Also certifies that candidates who possess strong language skills, educational qualifications, business experience, and other critical attributes are prioritized for nomination under the NSNP Entrepreneur Stream, contributing to Nova Scotia’s commercial growth and development goals.
The Nova Scotia Entrepreneur Stream Submission Process
Embarking on the journey towards entrepreneurship in Nova Scotia involves navigating through a structured six-step application process designed to identify and support promising business leaders who wish to establish themselves in the province.
Step 1: File an Expression of Interest (EOI)
Prospective immigrants initiate their application by filing or submitting an Expression of Interest (EOI) to the Jurisdiction or Province of Nova Scotia. This involves completing a concise online survey where candidates detail their business experience, language proficiency, education, investment plans, net worth, age, adaptability, and business proposal. Only candidates meeting the minimum criteria can submit an EOI. Each candidate receives a score based on a points matrix, and EOIs remain active for up to one year. Candidates can resubmit EOIs to improve their scores.
Step 2: Invitation to Apply (ITA)
Top-scoring candidates receive an Invitation to Apply (ITA) from the Nova Scotia Office of Immigration (NSOI). This invitation marks the next phase where applicants must submit a comprehensive application package within 90 days of receiving the ITA. Required documents include an application form, all necessary supporting documentation, a detailed Business Establishment Plan, and a Net Worth Verification Report prepared by an approved verifier. Candidates must select a Net Worth Verifier within 20 days of receiving the ITA.
Step 3: Face-to-face interview and Business Performance Contract
Successful applicants proceed to an in-person interview conducted by NSOI officials in Nova Scotia, typically within 60 days of contact. This interview determines eligibility based on outlined criteria. Candidates who pass the interview receive a Business Performance Agreement outlining investment details, business sector operations, and other pertinent terms. Failure to participate in the interview within the stipulated timeframe leads to application closure.
Step 4: Temporary Work Visa and Business Incorporation
Upon acceptance of the Business Performance Agreement, NSOI issues an Entrepreneur Approval Letter. Applicants must apply for a work permit through Immigration, Refugees, and Citizenship Canada (IRCC) within two months of receiving this letter. Successful work permit applicants, along with their families, relocate to Nova Scotia to initiate or acquire their businesses within one year of receiving approval, ideally within six months.
Step 5: Request for Nomination
Once candidates fulfill Business Performance Agreement conditions—such as making required investments and operating continuously for at least one year—they can request nomination for permanent residence by submitting a Nomination Request Form to NSOI. This includes providing an audit opinion and Special Purpose Report verified by an NSOI-designated Audit Services Verifier.
Step 6: Apply for Permanent Residence
Upon receiving nomination from NSOI, candidates apply for permanent residence through IRCC within six months. While NSNP nomination signifies endorsement, it does not guarantee a Permanent Resident Visa. Successful applicants receive a Confirmation of Permanent Residence, which must be promptly shared with NSOI.
This structured process ensures that successful candidates not only contribute to Nova Scotia's economic vitality but also integrate smoothly into Canadian society, fostering long-term prosperity for themselves and the province.
Crafting Your Business Establishment Plan for Success in Nova Scotia
The Business Establishment Plan serves as a strategic blueprint essential for settling and developing a successful business in Nova Scotia. This comprehensive plan not only ensures compliance with investment requirements but also underscores the applicant's commitment to active management and thorough market research.
Key Components of the Business Establishment Plan
1. Detailed Action Plan for Business Development
The heart of the plan is the Action Plan, meticulously detailing the business's steps over the next two to three years. It covers financial strategies, hiring timelines, anticipated business launch dates, and plans for expanding into export markets.
2. Essential Requirements and Understanding
It is imperative that applicants possess a deep understanding of their Business Establishment Plan. A thorough grasp of the plan's contents is crucial; failure to demonstrate this may render the applicant ineligible.
3. Comprehensive Coverage
Whether obtaining a prevailing business or introducing a new project, the Business Establishment Plan must encompass the following critical aspects:
Business Idea
- Industry Focus: Clearly specify the industry or sector in which the business will operate.
- Business Description: Provide a detailed description outlining ownership percentages and operational changes (for succession cases).
- Ownership Structure: Define the legal and trading names, ownership percentages, and other investor details.
- Business Type: Specify if it will be a partnership, proprietorship, corporation, acquisition, or franchise.
- Location and Scope: Detail the proposed business location (city or town) and its geographic coverage (local, regional, or national).
Strategic Sales and Marketing Plan
The Sales and Marketing Plan section within the Business Establishment Plan is pivotal for outlining how your business will thrive in Nova Scotia’s competitive landscape. This section delves into crucial details that shape your market approach and operational strategies.
Detailed Insights into Sales and Marketing Strategies
1. Market Analysis and Marketing Strategy
- Target Market Focus: Identify key demographics and consumer segments your business aims to reach.
- Competitive Landscape: Assess major competitors and highlight strategies to differentiate your offerings.
- Suppliers: Outline relationships with major suppliers essential to your business operations.
2. Operational Logistics
- Acquisition of Operational Space: Detail plans for securing suitable business premises in Nova Scotia.
- Product or Service Offerings: Describe the range of products or services your business will provide.
- Distribution Channels: Define how products or services will reach customers effectively.
- Hours of Operation: Specify business operating hours to align with market demand and customer needs.
3. Professional Services and Research Validation
- Utilization of External Professional Services: Specify any external services planned to support business operations.
- Research Foundation: Provide comprehensive details on research conducted to validate market assumptions and strategic decisions.
Exploratory Visit Requirements (Applicable to Business Succession Only)
For candidates intending to acquire an existing business, an Exploratory Visit report is mandatory as part of the Business Establishment Plan. This report serves to substantiate your familiarity with the local business environment and readiness to take over operations.
- Visit Logistics:
- Duration of Stay in Canada
- Names and contact details of visited professional services or settlement organizations
- Description and relevance of meetings or activities to your business establishment
- Copies of travel documents (airline tickets, boarding passes, hotel receipts)
- Business cards collected from relevant contacts
- Details of visits to existing business locations and meetings with current owners
Critical Factors and Risk Assessment
In the journey of establishing your business in Nova Scotia, it's crucial to anticipate and address critical factors and potential risks that could impact your venture. This section of the Business Plan dives into these essential considerations to ensure preparedness and compliance.
Critical Factors
1. Government Regulations
- Environmental, Health, and Safety: Outline regulatory requirements pertinent to your business operations.
- Municipal Zoning: Address zoning regulations impacting your business location.
- Labour Rules: Detail compliance with labor laws affecting your workforce.
2. Special Insurance Requirements
- Identify any specialized insurance coverage needed to mitigate specific business risks.
3. Anticipated Challenges
- Highlight potential hurdles beyond regulatory and insurance aspects that could affect business continuity and growth.
Risk Factors
When evaluating your business proposal, the NSOI assesses potential risks and your tactics to accomplish them efficiently.
- External Financing: Detail plans for securing external funding and its impact on financial stability.
- Investment Allocation: Discuss the allocation of funds, ensuring alignment with business objectives and financial projections.
- Personal Investment: Address the proportion of personal net worth committed to the business venture.
Investment and Financial Strategy
The success of your business hinges on a robust investment and financial strategy. This section provides a comprehensive overview of your financial planning and projections.
Investment Details
- Proposed Investment Amount: Specify the total investment and breakdown of expenditure.
- Start-up Funds and Expenses: Forecast initial capital requirements and operational expenses.
- Source of Financing: Describe where funding will originate, ensuring transparency and reliability.
- Financial Statements
- Previous Financial Performance: Provide financial statements for the last five years, if applicable, for business succession cases.
- Future Financial Projections: Include pro-forma statements covering the next three years, comprising balance sheet, income statement, and cash flow forecast.
- Assumption Notes: Justify revenue, expense, and profitability assumptions guiding your financial forecasts.
Building Business Relationships
Establishing strong business relationships is vital to the success of your venture in Nova Scotia. This section of the Business Establishment Plan outlines key partnerships and collaborations crucial to your operational strategy.
- Contracted Professional Business Service Providers
- Provide details of service providers with whom you have engaged or established contractual agreements.
- Include their names, organizations, contact information, and the nature of your collaboration.
- Compilation Assistance
- Share the details of the person who compiled or assisted in compiling your Business Establishment Plan.
- Include their name, organization, contact details, and their role in the planning process.
- Consultants and Collaborators
- Summarize the individuals or firms consulted during the preparation of your Business Establishment Plan.
- Highlight their contributions to shaping your business strategy.
Human Capital Strategy
Investing in human capital is crucial for the growth and sustainability of your business in Nova Scotia. This section details your plans for managing, hiring, and developing talent within your organization.
- Management Contribution
- Outline your intended role and weekly commitment to managing and operating the business.
- Provide an estimate of the hours dedicated to business management.
- Job Creation
- Specify the number and types of jobs you plan to generate for Canadian citizens or permanent residents.
- Highlight your commitment to offering competitive terms and maintaining existing employment conditions for current staff in the case of business succession.
- Employee Requirements
- Detail the educational qualifications and experience necessary for new hires.
- Outline any specialized training or preparation for entrepreneurship that you plan to undertake in Nova Scotia, including relevant course titles and institutions.
- Educational Background and Entrepreneurial Experience
- Explain how your educational background aligns with your business idea and enhances your capability to lead the venture.
- Highlight any entrepreneurial experience that strengthens your suitability for the proposed business.
- Outline your intended role and weekly commitment to managing and operating the business.
- Provide an estimate of the hours dedicated to business management.
- Specify the number and types of jobs you plan to generate for Canadian citizens or permanent residents.
- Highlight your commitment to offering competitive terms and maintaining existing employment conditions for current staff in the case of business succession.
- Detail the educational qualifications and experience necessary for new hires.
- Outline any specialized training or preparation for entrepreneurship that you plan to undertake in Nova Scotia, including relevant course titles and institutions.
- Explain how your educational background aligns with your business idea and enhances your capability to lead the venture.
- Highlight any entrepreneurial experience that strengthens your suitability for the proposed business.
A well-crafted Business Establishment Plan not only fulfills program requirements but also showcases the candidate's readiness to contribute to Nova Scotia's economic landscape. It serves as a foundational document, ensuring clarity, viability, and strategic alignment throughout the entrepreneurial journey in Nova Scotia.
Who Cannot Apply for the Nova Scotia Entrepreneur Stream
Certain individuals and types of businesses are deemed ineligible to apply for the Nova Scotia Entrepreneur Stream. Understanding these criteria is essential before considering your application.
Ineligible Applicants
You should not apply under this stream if you:
- Are refugee claimants in Canada
- Currently seeking refugee status in Canada.
- Are residing illegitimately in their present country of residence
- Residing unlawfully in your current country of residence.
- Have had an elimination order dispensed against them by IRCC or Canada Border Services Agency
- Issued an order to leave Canada by immigration authorities.
- Are prohibited from entering Canada
- Barred from entering Canada for legal reasons.
- Are passive investors
- Intend to invest in a Nova Scotia business with minimal involvement in its daily management.
- Do not have status
- Lacking legal status; must restore status before becoming eligible to apply.
Ineligible Businesses
Certain types of businesses are also ineligible, including:
- Remote Businesses
- Operated from another Canadian jurisdiction or from abroad.
- Investment, Property Rental, and Leasing Activities
- Excluding cases where the business provides significant provincial benefit.
- Real Estate and Business Brokerage
- Unless the business offers substantial benefits to Nova Scotia.
- Licensed Professional Services
- Such as those requiring specific professional accreditation.
- Financial Services
- Payday loans, cheque cashing, money changing, and similar activities.
- Pawnbrokers and Credit Unions
- Excluded from eligibility.
- Home-Based Businesses
- Except where the business provides compelling provincial benefits.
- Co-operatives
- Businesses structured as co-operatives.
- Passive Investment Businesses
- Aimed primarily at generating passive income.
- Adult Entertainment Businesses
- Involved in pornographic or sexually explicit products or services.
- Joint Ventures Between NSNP Applicants
- Partnerships formed among NSNP program applicants.
- Other Disreputable Businesses
- Any business type that could potentially tarnish the reputation of the NSNP or the government of Nova Scotia.
Understanding these criteria ensures that your application aligns with the eligibility requirements of the Nova Scotia Entrepreneur Stream, enhancing your chances of a successful application and integration into Nova Scotia's vibrant business community.
Invitation History
Below is a table detailing the history of invitations issued by the Nova Scotia Office of Immigration (NSOI) for the Entrepreneur Stream.
| Date of Draw | Number of Invitations | Score of Lowest-Ranked Candidate Invited |
|---|---|---|
| December 9, 2020 | 34 | 122 |
| February 5, 2020 | 27 | 115 |
| November 12, 2019 | 20 | 118 |
| September 6, 2019 | 46 | 113 |
| June 24, 2019 | 43 | 110 |
| May 17, 2019 | 27 | 112 |
| April 4, 2019 | 27 | 112 |
| February 19, 2019 | 22 | 112 |
| January 7, 2019 | 33 | 112 |
| November 14, 2018 | 30 | 112 |
| October 9, 2018 | 44 | 109 |
| September 20, 2018 | 43 | 109 |
| August 7, 2018 | 32 | 116 |
| June 26, 2018 | 22 | 120 |
| May 21, 2018 | 18 | 123 |
| March 27, 2018 | 22 | 108 |
| February 20, 2018 | 22 | 100 |
| January 16, 2018 | 27 | 91 |
| December 19, 2017 | 27 | 91 |
| November 15, 2017 | 24 | 91 |
| October 10, 2017 | 12 | 97 |
| September 15, 2017 | 28 | 91 |
| August 9, 2017 | 25 | 94 |
| July 11, 2017 | 20 | 97 |
| June 13, 2017 | 30 | 95 |
| May 9, 2017 | 35 | 98 |
| March 7, 2017 | 26 | 90 |
| January 18, 2017 | 28 | 90 |
| December 22, 2016 | 36 | 97 |
| November 18, 2016 | 35 | 104 |
| October 3, 2016 | 9 | 110 |
| August 11, 2016 | 12 | 111 |
| June 28, 2016 | 8 | 115 |
| April 21, 2016 | 11 | 108 |
| March 31, 2016 | 8 | 113 |
| March 10, 2016 | 8 | 117 |
| February 19, 2016 | 6 | 112 |
This table delivers a complete summary of the number of invitations issued and the corresponding scores of the lowest-ranked candidates invited across various draw dates. Understanding this history can help prospective applicants gauge their eligibility and competitiveness under the NSOI Entrepreneur Stream.
Disclaimer : While every effort has been made to ensure the accuracy and reliability of the information provided about the Nova Scotia Nominee Program: Entrepreneur Stream, readers are advised to conduct their thorough research and seek professional advice before making any decisions. The details presented here are for informational purposes only and do not constitute legal, financial, or immigration advice. Circumstances can vary widely, and individual eligibility for the program may depend on factors not fully covered in this summary. Prospective applicants should carefully review official program guidelines and consult relevant authorities or experts to obtain personalized guidance tailored to their specific situation.
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