Eligibility

To qualify, an individual must:

• be 21 to 59 years of age
• provide a business plan with supporting financial documentation verified by a recognized third-party professional
• have a minimum of Canadian high school diploma
• 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 $600,000 CAD in unencumbered net business and personal assets
• be able to invest at least $200,000 CAD of their own money to establish a business in the Newfoundland and Labrador with a minimum ownership of 33.3 per cent, or $1 million in equity investment
• demonstrate ability to create at least one full-time equivalent job for local population
• have at least two years’ experience actively managing and owning a business (25 per cent minimum ownership) in the last five years OR 5 or more years’ experience in a senior business management role in the last ten year
• have a score of at least 5 on the Canadian Language Benchmark in speaking, listening, reading and writing in English or French