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Nova Scotia Nominee Program - Proposed new Entrepreneur Stream

Nova Scotia Nominee Program - Proposed new Entrepreneur Stream

Old Mar 19th 2008, 3:23 am
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Default Nova Scotia Nominee Program - Proposed new Entrepreneur Stream

For those of you thinking about emigrating to Nova Scotia you probably already know about the NS Provincial Nominee Program. Currently there are few different routes but the main one is the Skilled Worker which requires you to have a job offer. Some people who already have stong connections to the region have also used the Community Identified stream.

For those planning on starting businesses though there is good news - a new Entrepreneur stream is launching in Spring 2008. Even better, the Nova Scotia Immigration department is inviting feedback on their proposal for how the scheme might work.

You can look at the proposed scheme here http://www.novascotiaimmigration.com...f&contenttype= and there is an address and email at the end you can send your comments to.

The current proposal seems to centre around the successful applicant being granted a work permit for 2 years which gets converted to permanent residency if they meet their obligations (that they really do settle in NS and really do start a business etc). Personally I wonder how this might work if for example the business failed during the first two years despite best efforts on the part of the immigrant. I'm also not sure that there really needs to be a minimum net worth requirement of $400k - why not allow a talented young entrepreneur without the $400k to give it a go here and make a success fo themselves?

Anyway, if any of you do have views on how this scheme should work I would strongly recommend sending your feedback in. the deadline for doing so is March 31st.
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Old Mar 19th 2008, 3:31 am
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Default Re: Nova Scotia Nominee Program - Proposed new Entrepreneur Stream

Originally Posted by NSpaul
The current proposal seems to centre around the successful applicant being granted a work permit for 2 years which gets converted to permanent residency if they meet their obligations (that they really do settle in NS and really do start a business etc). Personally I wonder how this might work if for example the business failed during the first two years despite best efforts on the part of the immigrant. I'm also not sure that there really needs to be a minimum net worth requirement of $400k - why not allow a talented young entrepreneur without the $400k to give it a go here and make a success for themselves?
I think you've answered your own question - without a degree of capital, what guarantee would immigration have that the individual is able to fend for themselves while launching a business? It's fairly certain that initial trading is unlikely to provide enough cash flow to support them (and perhaps a family too), so some of the capital provides a safety net to prevent the Canadian welfare system having to pick up the tab of a lazy/failed/unlucky business person.
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Old Mar 19th 2008, 4:15 am
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Default Re: Nova Scotia Nominee Program - Proposed new Entrepreneur Stream

Originally Posted by R I C H
I think you've answered your own question - without a degree of capital, what guarantee would immigration have that the individual is able to fend for themselves while launching a business? It's fairly certain that initial trading is unlikely to provide enough cash flow to support them (and perhaps a family too), so some of the capital provides a safety net to prevent the Canadian welfare system having to pick up the tab of a lazy/failed/unlucky business person.
In this case there was a proposed requirement to invest $150k into the business but to also have a net worth of $400k. So while I dont disagree that the would-be entrepreneur should be expecting to invest money to get it off the ground my question was really: should there be a further requirement to have a certain level of wealth too? In other words is the scheme just trying to attract promising entrepreneurs or is it going even further and saying that they have to also be bringing substantial funds into the regional economy otherwise they need not apply?

You see if you came as a skilled worker and for whatever reason the job didnt last you would be in a tricky situation until you found another job. But there's no requirement for skilled workers to have a net worth of $400k.
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Old Mar 19th 2008, 5:44 am
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Default Re: Nova Scotia Nominee Program - Proposed new Entrepreneur Stream

Originally Posted by NSpaul
In this case there was a proposed requirement to invest $150k into the business but to also have a net worth of $400k. So while I dont disagree that the would-be entrepreneur should be expecting to invest money to get it off the ground my question was really: should there be a further requirement to have a certain level of wealth too? In other words is the scheme just trying to attract promising entrepreneurs or is it going even further and saying that they have to also be bringing substantial funds into the regional economy otherwise they need not apply?

You see if you came as a skilled worker and for whatever reason the job didnt last you would be in a tricky situation until you found another job. But there's no requirement for skilled workers to have a net worth of $400k.
Then, perhaps the new proposal will fall on its face - you'd perhaps be better off starting a business with a WP, and not have to meet any specific criteria regarding net worth.
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Old Mar 19th 2008, 5:54 am
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Default Re: Nova Scotia Nominee Program - Proposed new Entrepreneur Stream

Originally Posted by R I C H
Then, perhaps the new proposal will fall on its face - you'd perhaps be better off starting a business with a WP, and not have to meet any specific criteria regarding net worth.
I think thats a good point - you could apply for PR through the Federal program while working in your own business on a WP and you would still get PR ultimately anyway (it would probably take a bit longer than 2 years). But do you need an LMO for a WP if you are starting a business? Perhaps this would skip that step if so
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Old Mar 19th 2008, 6:04 am
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Default Re: Nova Scotia Nominee Program - Proposed new Entrepreneur Stream

Originally Posted by NSpaul
I think thats a good point - you could apply for PR through the Federal program while working in your own business on a WP and you would still get PR ultimately anyway (it would probably take a bit longer than 2 years). But do you need an LMO for a WP if you are starting a business? Perhaps this would skip that step if so
Nope, LMO is irrelevant and not required if you're starting your own business.
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Old Mar 19th 2008, 12:47 pm
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Default Re: Nova Scotia Nominee Program - Proposed new Entrepreneur Stream

This new PNP entrepaneur programme seems to be extremely similar to the one for BC.
We looked into it but rejected it 1. because we didn't make the $500,000 net worth they were asking for and 2. because they expected you to move your whole life and assetts to BC start your biz, employ at least two canadians and after two years if you fulfilled all their criteria, they send your file for federal processing.

My big problem with all of this is that after you have done all of this, you might fail the medical or some other aspect of the federal processing.
If you do then you would not get PR and would therefore get sent back to the UK (or wherever).

I didn't like the last eforts of the NS immigration for PNP biz class either.
The wanted you to give something like $137,000 non returnable for the privilage.

Thats why we went with good old NB.
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Old Mar 20th 2008, 6:10 am
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Default Re: Nova Scotia Nominee Program - Proposed new Entrepreneur Stream

Originally Posted by pennyhp
This new PNP entrepaneur programme seems to be extremely similar to the one for BC.
We looked into it but rejected it 1. because we didn't make the $500,000 net worth they were asking for and 2. because they expected you to move your whole life and assetts to BC start your biz, employ at least two canadians and after two years if you fulfilled all their criteria, they send your file for federal processing.

My big problem with all of this is that after you have done all of this, you might fail the medical or some other aspect of the federal processing.
If you do then you would not get PR and would therefore get sent back to the UK (or wherever).

I didn't like the last eforts of the NS immigration for PNP biz class either.
The wanted you to give something like $137,000 non returnable for the privilage.

Thats why we went with good old NB.
Exactly - the old NS PNP business class scheme was an out and out scam if you ask me. The company that gave you the 6 month work placement got $100k of it and a private company that they outsourced the administration to got something like $30k per applicant just for doing a bit of form filling. I think they ended up returning a large proportion of it when applicants started sueing them.
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