Nova Scotia Nominee Program Entrepreneur Stream

Introduction

This guide provides a detailed overview of the Nova Scotia Nominee Program (NSNP) Entrepreneur Stream. It explains who can apply, how points are awarded, the step-by-step application process, financial requirements, and timelines. It also highlights business opportunities in Nova Scotia and factors influencing your chances of success. Key takeaways are that you have to have previous business ownership or senior management experience, you must live and work in Nova Scotia for at least 12 months before you are allowed to apply for Permanent Residence, and there is no loss of points based on age – a key advantage over any Federal immigration system. That said, the NSNP is a multi-year process that requires serious commitment and hinges on the success of the acquired Nova Scotia business. It’s not for everyone, but it does offer a viable path to immigration for individuals who are unable to qualify in another program.

Who Can Apply for the NSNP Entrepreneur Stream

Age
• You must be at least 21 years old.

Net Worth
• If you plan to operate a business within the Halifax Regional Municipality (HRM), you must have a net worth of at least CAD 600,000.
• For businesses outside HRM, the requirement is at least CAD 400,000.
• Your net worth must be legally acquired, and you must be able to transfer these funds to Canada.

Investment
• You need to make a minimum investment of CAD 150,000 within HRM or CAD 100,000 outside HRM.
• This investment must go into the business you intend to operate.
• You must own at least one-third of the equity in that business.

Business Experience
• You should have at least three years of experience as a business owner or five years of experience as a senior business manager within the last ten years.

Language Proficiency
• You must meet at least Canadian Language Benchmark (CLB) Level 5 in English or French.

Educational Qualifications
• You must have at least a Canadian high school diploma or an equivalent foreign credential.

Intent to Reside in Nova Scotia
• You must show your intent to live in Nova Scotia and operate your business there permanently.

Nova Scotia Nominee Program Ranking System

In addition to meeting the eligibility criteria, you should score above 85 points to be invited to apply. Below is the points table used by the province.

Business Establishment Plan
• Export business: 5 points
• Business location outside Halifax: 10 points
• Buy an existing business: 10 points
• Personal investment (CAD 100,000 to CAD 300,000): 10 points
• Personal investment (above CAD 300,000): 15 points

Net Worth
• CAD 400,000 to CAD 999,999: 5 points
• CAD 1 million to CAD 1.5 million: 7 points
• More than CAD 1.5 million: 10 points

Experience
• More than 5 years of senior management experience in the last 10 years: 20 points
• Business ownership experience (3 to 5 years within the last 10 years): 20 points
• Business ownership experience (more than 5 years within the last 10 years): 35 points
• Your past work in Nova Scotia: 10 points
• Your spouse’s past work in Nova Scotia: 5 points

Level of Education
• High school diploma (Canadian or equivalent): 8 points
• Completion of a 2-year program in Nova Scotia: 10 points
• 1-year college or university diploma or degree (Canadian or equivalent): 12 points
• 2-year college or university diploma or degree (Canadian or equivalent): 19 points
• 3-year college or university diploma or degree (Canadian or equivalent): 21 points
• 2 or more college or university diplomas or degrees (Canadian or equivalent), at least one must be a 3-year program: 22 points
• Master’s degree or equivalent: 23 points
• Degree in accounting, engineering, law, medicine, etc. plus license from NS: 23 points
• Doctorate (PhD): 25 points

Spouse’s Level of Education
• Completion of a 2-year program in Nova Scotia: 10 points

Language Skills
• CLB 5: 20 points
• CLB 6: 24 points
• CLB 7 or higher: 28 points

Second Official Language
• CLB 4: 7 points

Spouse’s Ability in English or French
• CLB 4+: 5 points

Age
• 21 to 24: 5 points
• 24 to 32: 7 points
• 33 to 39: 10 points
• 40 to 44: 7 points
• 45 to 55: 5 points
• 56 or older: 0 points

Family Living in Nova Scotia
• 5 points

How to Apply for the NSNP Entrepreneur Category: 10 Important Steps

Step 1: Calculate Your Points
• The Nova Scotia Entrepreneur Stream uses a points-based system covering factors such as business experience, personal net worth, language proficiency, education, and your proposed business.
• If your total score is between 85–105 points, you stand a good chance of being selected. If above 105, your chances are excellent.

Step 2: Prepare Your Language Test and Educational Credentials
• Take an approved language test and achieve at least CLB 5 in each band (Reading, Writing, Listening, Speaking). Higher scores yield more points.
• Obtain an Educational Credential Assessment (ECA) no more than five years old from the date of your application.
• Both test results and ECA are mandatory for submitting an Expression of Interest (EOI).

Step 3: Research Nova Scotia Cities and Decide on Your Business
• Research where you plan to operate: inside or outside the Halifax Regional Municipality (HRM).
• Decide on the industry or type of business that fits your experience and goals.
• Budget your investment based on your net worth and potential business costs.
• If you plan to purchase an existing business, an exploratory visit is required within six months of receiving an invitation to apply.

Step 4: Submit an Expression of Interest (EOI)
• Once you have your points calculated, language results, ECA, and a general business plan, submit your EOI.
• The EOI has about 51 questions covering personal details, eligibility, your ECA report, language test results, and proposed business.
• EOIs enter monthly draws. If your score is high enough, you can expect to receive an Invitation to Apply (ITA) in approximately 30 days.

Step 5: Submit Your Business Application
• After receiving an ITA, you must submit your full application, including a Business Establishment Plan, Net Worth Verification Report, and Review Engagement and Special Purpose Report.
• Your Business Establishment Plan should prove your business’s viability and your thorough understanding of the Nova Scotian market.
• If you are buying an existing business, provide a preliminary purchase price and evaluate the business.
• Timing is critical:
◦ 20 days to select a Net Worth Verifier
◦ 90 days to submit the Business Establishment Plan and other supporting documents
◦ 180 days to submit the Net Worth Verification Report
• Missing deadlines or providing incomplete information can result in application closure.

Step 6: Interview
• After a successful application review, you will be invited for an interview with Nova Scotia immigration officials (either virtual or in-person).
• The interview focuses on:
◦ Your proposed business idea and its viability.
◦ Detailed sales and marketing plans (customers, products/services, competition).
◦ Your action plan (timeline, hiring, financial milestones).
◦ Compliance with provincial and federal regulations.
◦ Your role in business operations (work hours, managerial responsibilities, required training).
◦ Plans for hiring Canadians or permanent residents.
• Thorough preparation is essential. Failure at this stage ends your application with no appeal.

Step 7: Business Performance Agreement
• If you pass the interview, you must sign a Business Performance Agreement (BPA) with the Nova Scotia government.
• The BPA outlines your investment amount, business type, required hires, and other obligations tied to your proposed plan.

Step 8: Work Permit Application
• After signing the BPA, you and your family can apply for a work permit through Immigration, Refugees and Citizenship Canada (IRCC).
• Approval of the work permit depends on IRCC’s assessment criteria.

Step 9: Arrival in Nova Scotia and Business Operation
• You and your dependants must arrive in Nova Scotia within six months of receiving your port of entry letter.
• Attend an Arrival Meeting within 60 calendar days of your work permit issuance. Bring:
◦ Photocopies of your passport
◦ Temporary work permit
◦ Nova Scotia driver’s license and/or health card
◦ Proof of Nova Scotia residence (utility bills, lease, mortgage)
◦ Proof of transferring funds to a Nova Scotia bank account (bank statements)
• Operate your business for at least one year before applying for permanent residence.
• Ensure compliance with the BPA throughout that year, including minimum ownership requirements, active management, investment obligations, and reporting duties.

Step 10: Application for Permanent Residence
• After operating your business successfully for one full year, you can apply for permanent residence in Canada.
• You must submit supporting documents to show full compliance with the Entrepreneur Stream requirements.
• If approved, you and your family receive permanent resident status.

Financial Requirements and Costs

Net Worth Verification (CAD 4,500–7,500)
• After an ITA, you must hire an approved service provider to verify your net worth. Fees vary but typically range from CAD 4,500 to CAD 7,500.

Business Establishment Plan (CAD 8,000–10,000)
• Professional assistance to prepare the Business Establishment Plan can cost between CAD 8,000 and CAD 10,000.

Financial Statement Review (CAD 3,000–7,500)
• An approved service provider must also verify the financial statements in your plan. This review generally costs CAD 3,000 to CAD 7,500.

Work Permit Fees
• Principal applicant: CAD 155
• Spouse: Additional CAD 255
• Dependent child: CAD 150
• Employer compliance fee (if applicable): CAD 230

Permanent Residence Fees
• Principal applicant: CAD 2,385
• Spouse: Additional CAD 1,525
• Dependent child: CAD 260
• Biometrics (for adults over 14): CAD 85 per person

Operating Expenses
• Plan to set aside CAD 50,000–100,000 in operating expenses for rent, salaries, utilities, marketing, and other costs associated with running the business.

Processing Timeline

Overall, the NSNP Entrepreneur Stream can take 2.5 to 3.5 years from the initial point calculations to a final decision on permanent residence. Here is a generalized breakdown:
• First 2–3 Months:
◦ Calculate Points
◦ Complete Language Test and ECA
◦ Research Nova Scotia and Outline Your Business
◦ Submit Expression of Interest
◦ Receive Invitation to Apply
• Submit Full Application (Business Application): ~3 months
• Interview: ~1–2 months after application submission
• Sign Business Performance Agreement: ~0.5 months
• Apply for Work Permit: ~1–3 months
• Arrival in Nova Scotia: Within 6 months of Work Permit issuance
• Operate Business: 12 months
• Apply for Permanent Residence: ~1–3 months after fulfilling the 12-month business operation requirement
• Permanent Residence Decision: ~6–12 months

Business Opportunities in Nova Scotia
• Technology and Innovation: Software, cybersecurity, and digital media sectors are expanding.
• Tourism and Hospitality: Strong demand for accommodations, restaurants, and tour services.
• Agriculture and Fisheries: Established sectors with room for production, processing, and distribution businesses.
• Healthcare and Life Sciences: Opportunities in healthcare services, medical technology, and pharmaceuticals.
• Renewable Energy: Nova Scotia’s focus on sustainability supports wind, solar, and green technology ventures.

Assessing Your Chances of Success
• Points System: Aim for a high score in the EOI to secure an Invitation to Apply.
• Viability of Your Business Plan: It should be thoroughly researched and feasible, aligning with Nova Scotia’s economic objectives.
• Financial Preparedness: Be ready for the investment, operating costs, and additional fees.
• Commitment to Nova Scotia: Demonstrate genuine intent to reside and manage your business in the province.

Conclusion

The NSNP Entrepreneur Stream offers a structured albeit long pathway to permanent residence in Nova Scotia. To succeed, you need a strong application backed by sufficient net worth, a viable business plan, relevant experience, language proficiency, and a genuine intention to settle in the province. Proper preparation, thorough research, and diligent follow-through at every stage are essential to realizing your entrepreneurial and immigration goals in Nova Scotia. The primary risk of this program is that you only obtain permanent residency status if the business you started or purchased is successful in turning a profit.