January 1, 2018 – Creation of an entrepreneur category, according to Chair of the St. John’s Board of Trade Dorothy Keating, may help Newfoundland and Labrador avoid dire forecasts that predict a sharp fall in the province’s population in the future.
Memorial University’s Harris Centre’s Population Project forecasts an eight percent fall in the province’s population by 2036. Short-term trends too are worrying with the province being the only one in the country to witness a fall in its population over the past year.
According to the Board of Trade, the existing setup of the immigrant nominee program may be accentuating the problem, and introduction of a category catering specifically to entrepreneurs may help the province attract more skilled and productive immigrants.
An entrepreneur category will help the province target entrepreneur and business persons from other countries. Currently, the province’s nominee program is restricted to skilled workers or international graduates with a full-time job offer from an employer in the province.
Further, creation of new businesses in the province will mean immigrants will not just create their own jobs but will create job opportunities for others as well. The entrepreneur category may provide a fillip to demand for existing categories as well.
The call for an entrepreneur category would complement existing business immigration programs in the province. Newfoundland and Labrador already has a startup visa program that assists international students to establish businesses in the province even before they graduate. Those who take advantage of this program to establish startups end up struggling to reside and operate in the province after graduation. There also have been instances of students with viable business ideas faced barriers in transforming them into a full-fledged business post the completion of their studies.
Other provinces have devised new immigration policies to attract foreign entrepreneurs. Many provinces now have a conditional two-step process to maximize the benefits that can be realized from new businesses setup by immigrants.
Attracting entrepreneurial talent from abroad can help to resolve Newfoundland and Labrador’s population as well as economic problems. A business-friendly environment will boost wealth creation, which, in turn, will automatically serve as an incentive for more people to immigrate to the province.
Taking note of the suggestion, the Department of Advanced Education, Skills and Labour affirmed the government’s commitment to exploring the introduction of new categories designed to cater to the unique demographic and economic requirements of the province.
Requirements of the Province’s Skilled Worker Immigration Category
- Full-time job offer from an employer in province with demonstrable proof of requirement of your skills in the province.
- Hold a work permit or be eligible for the same.
- Hold necessary education, training, skills, and licensing/accreditation for the job.
- Intend to settle permanently in the province.
- Have adequate funds to settle self and dependents in the province.
- Adequate language proficiency in English or French to perform job duties.
Requirements of the International Graduate Immigration Category
- Complete at least half of studies in Canada with graduation from an eligible Canadian institution.
- Complete a full-time course, diploma, or degree of duration of at least two years.
- Full-time job offer from an employer in province related to field of study.
- Apply within two years of receiving the degree/diploma.
- Hold a Post-Graduate Work Permit
- Hold necessary education, training, skills, and licensing/accreditation for the job.
- Intend to settle permanently in the province.
- Have adequate funds to settle self and dependents in the province.
- Adequate language proficiency in English or French to perform job duties.
Interested employers: Kindly contact us here to receive further information.
Interested candidates: Find out whether you qualify to Canada by completing our free on-line evaluation. We will provide you with our evaluation within 1-2 business days.
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