The Newfoundland and Labrador PNP Immigrant Entrepreneur category allows promising international business person or entrepreneurs to immigrate to the Canadian province and set up a new business or invest in some existing business, thereby obtaining the permanent residence status in Canada. In order to be able to immigrate to the Canadian province, foreign applicants are required to meet a number of criteria. Below are a few of the eligibility criteria of the same:

• Applicants must possess personal wealth of 450,000 Canadian Dollars. Out of this total amount, 350 Canadian Dollars must be in liquid assets.
• Applicants must have at least 5 years of work experience of working in senior management. Else, they must have entrepreneurial experience in a business which is similar to the one they have proposed while filing their petitions with the Newfoundland and Labrador PNP.
• Applicants must be willing to come into agreement of performance. The Performance agreement depicts that the applicants are prepared to invest 200,000 Canadian Dollars in a new business or to buy stacks in some existing businesses in the province.
• Applicants are required to deposit a refundable amount of 100,000 Canadian Dollars.
• Applicants must visit the province of Newfoundland and Labrador before they file application with the Provincial Nominee Program. Applicants must take the visits at their own expense.
• Applicants must submit a proper business plan regarding the establishment of the new business in the province.

The Immigrant Entrepreneur category of the Newfoundland and Labrador PNP is an ideal way to immigrate to the Canadian province and then obtain the Canadian permanent residency. To know more about the category, contact an Immigration and Visa Consultant!