Nova Scotia is a Canadian province that has become increasingly popular among entrepreneurs looking to start a business and immigrate to Canada. With its growing economy, highly skilled workforce, and supportive business environment, there are currently many opportunities for individuals looking to set up a business in Nova Scotia.
One way to immigrate to Nova Scotia is by starting a business. The province offers an Entrepreneur stream that allows individuals with a net worth of at least $600,000 CAD and the ability to invest at least $150,000 CAD of their own money to establish a business in Nova Scotia. Applicants must also want to live permanently in Nova Scotia while owning and actively managing a business in the province. The Entrepreneur stream is part of the Nova Scotia Nominee Program (NSNP), which is designed to help skilled and experienced individuals immigrate to the province.
Benefits of Business Immigration to Nova Scotia
Nova Scotia has a thriving business community, and the province actively encourages entrepreneurs to immigrate and start businesses there. There are many benefits to doing so, including:
- Access to Funding: Nova Scotia has a variety of programs and funding options available to help new businesses get off the ground. This includes the Nova Scotia Business Development Program, which provides loans, guarantees, and equity investments to eligible businesses.
- Low Operating Costs: Halifax, the capital city of Nova Scotia, has been noted as one of the most cost-effective places to do business in North America. The province has a low cost of living and low operating costs, making it an attractive option for entrepreneurs looking to maximize their profits.
- Supportive Business Environment: Nova Scotia has a supportive business environment, with a network of business incubators, accelerators, and mentorship programs available to help entrepreneurs succeed. The province also has a highly skilled workforce, with many graduates from local universities and colleges.
- Quality of Life: Nova Scotia is known for its high quality of life, with beautiful natural scenery, a vibrant arts and culture scene, and a strong sense of community. The province has a low crime rate, affordable housing, and excellent healthcare and education systems.
- Access to Markets: Nova Scotia is strategically located on the east coast of Canada, with easy access to markets in North America, Europe, and Asia. The province has a deep-water port, an international airport, and a well-developed transportation infrastructure.
Overall, business immigration to Nova Scotia offers entrepreneurs a supportive environment, access to funding and markets, and a high quality of life. With a low cost of living and operating costs, it’s an attractive option for entrepreneurs looking to start a new business or expand their existing one.
(Source: Nova Scotia Immigration)
Eligibility Requirements for Business Immigration to Nova Scotia
If you are interested in immigrating to Nova Scotia by starting a business, there are several eligibility requirements that you must meet. These requirements are designed to ensure that you have the skills, experience, and financial resources necessary to succeed in Nova Scotia’s business environment.
Firstly, you must be at least 21 years old and want to live permanently in Nova Scotia while owning and actively managing a Nova Scotia business. You must also have a net worth of at least $600,000 CAD and be able to invest at least $150,000 CAD of your own money to establish a business in Nova Scotia.
Additionally, your business must have a permanent establishment in Nova Scotia and must have been in operation in Nova Scotia, under current management, for at least two years. You must also have a history of good workplace and business practices.
To be eligible for the Atlantic Immigration Program, which includes the Entrepreneur Stream of the Nova Scotia Nominee Program (NSNP), you must have qualifying work experience, unless you’re an international graduate of a recognized post-secondary institution in Atlantic Canada. You must also meet or exceed the educational requirements.
It’s essential to note that meeting these eligibility requirements does not guarantee that you will be approved for business immigration to Nova Scotia. You must also demonstrate that your business will create significant economic benefits for Nova Scotia, such as job creation, increased exports, or innovation.
Steps to Immigrate to Nova Scotia by Starting a Business
If you are an entrepreneur looking to immigrate to Nova Scotia, starting a business in the province may be a viable option. Here are the steps to follow:
- Meet the eligibility requirements. To apply for the Entrepreneur stream of the Nova Scotia Nominee Program, you must be 21 years of age or older, have a net worth of at least $600,000 CAD, and be able to invest at least $150,000 CAD of your own money to establish a business in Nova Scotia. You must also want to live permanently in Nova Scotia while owning and actively managing a Nova Scotia business. 
- Research and develop a business plan. You need to develop a comprehensive business plan that outlines your proposed business, its market potential, and its financial projections. Your business plan should also demonstrate how your business will benefit Nova Scotia’s economy and labor market. 
- Submit an Expression of Interest (EOI). You must submit an EOI to the Nova Scotia Nominee Program, expressing your interest in the Entrepreneur stream. Your EOI will be evaluated based on the selection factors, which include business experience, education, language proficiency, and adaptability. If your EOI is successful, you will receive an Invitation to Apply (ITA). 
- Apply for a Work Permit. Once you receive an ITA, you can apply for a work permit to start your business in Nova Scotia. You will need to provide proof of your investment and demonstrate that you have the necessary skills and experience to manage your business. 
- Establish and operate your business. Once you have arrived in Nova Scotia, you can establish and operate your business. You must actively manage your business and meet the conditions of your nomination. After a period of time, you may be eligible to apply for permanent residency in Canada. 
Starting a business in Nova Scotia can be a challenging but rewarding experience. By following these steps and working closely with the Nova Scotia Nominee Program, you can increase your chances of success and achieve your goals of immigrating to Canada.
Business Support Services in Nova Scotia
Nova Scotia is a great place to start a business, and the province offers a range of business support services to help entrepreneurs succeed. These services are designed to help businesses of all sizes, from start-ups to established companies, and cover everything from funding and financing to training and networking.
One of the most important resources for businesses in Nova Scotia is Invest Nova Scotia (formerly Nova Scotia Business Inc., or NSBI). Invest Nova Scotia is a government agency that provides business development support to companies in the province. They offer a range of services, including help locating a business in Nova Scotia, start-up support, export development, and more.
Another important resource for businesses in Nova Scotia is the Centre for Entrepreneurship Education and Development (CEED). CEED is a non-profit organization that provides training, mentoring, and networking opportunities to entrepreneurs. They offer a range of programs, including the Self-Employment Benefits Program, which provides financial support to entrepreneurs while they start their businesses.
In addition to Invest Nova Scotia and CEED, there are a number of other organizations in Nova Scotia that provide business support services. These include:
- Atlantic Canada Opportunities Agency (ACOA), which provides funding and support to businesses in Atlantic Canada
- Community Business Development Corporation (CBDC), which provides assistance to rural businesses across Atlantic Canada
- Nova Scotia Community College (NSCC), which offers a range of business training programs
- Halifax Partnership, which provides economic development support to businesses in Halifax
Overall, Nova Scotia is a great place to start a business, and the province offers a range of business support services to help entrepreneurs succeed. With the help of these resources, entrepreneurs can turn their business ideas into successful ventures.
Costs and Funding for Starting a Business in Nova Scotia
Starting a business in Nova Scotia comes with costs, but there are also various funding options available to help entrepreneurs get started. Here are some costs and funding options to consider:
When starting a business in Nova Scotia, there are certain costs that entrepreneurs need to consider. These may include:
- Business registration fees: Entrepreneurs need to register their business with the Nova Scotia Registry of Joint Stock Companies. The fees for registration vary depending on the type of business structure chosen.
- Licenses and permits: Depending on the type of business, entrepreneurs may need to obtain certain licenses and permits. The cost of these licenses and permits varies.
- Rent and utilities: Entrepreneurs need to consider the cost of rent and utilities when looking for a location for their business.
- Equipment and supplies: Entrepreneurs need to purchase equipment and supplies to get their business up and running. The cost of these varies depending on the type of business.
There are various funding options available to entrepreneurs looking to start a business in Nova Scotia. Some of the funding options include:
- Private funding: Entrepreneurs can seek private funding from angel investors, venture capitalists, and other sources. This type of funding usually requires entrepreneurs to give up a portion of their business in exchange for funding.
- Government funding: The Nova Scotia government offers various funding programs to help entrepreneurs start and grow their businesses. These programs include the Nova Scotia Innovation Rebate Program, and the Nova Scotia Innovation Equity Tax Credit.
- Self-funding: Entrepreneurs can also choose to self-fund their business by using personal savings or taking out a loan. This option allows entrepreneurs to maintain full control of their business.
It is important to note that funding options and requirements may vary depending on the type of business and the entrepreneur’s qualifications. It is recommended that entrepreneurs research and explore all funding options available to them before making a decision.
Nova Scotia’s business immigration program offers a great opportunity for entrepreneurs to immigrate to Canada and start a business. With a net worth of at least $600,000 CAD and an investment of at least $150,000 CAD, applicants can establish a business in Nova Scotia and become permanent residents of Canada.
The Entrepreneur stream and International Graduate Entrepreneur stream are designed for individuals who want to own and actively manage a Nova Scotia business. Applicants must meet the eligibility criteria, including having at least one year’s continuous experience actively managing and owning their current Nova Scotia business.
Nova Scotia’s Office of Immigration works to market the province as an attractive immigration and newcomer destination and promote all immigration pathways to Nova Scotia. They select immigrants through the Nova Scotia Nominee Program and Atlantic Immigration Pilot Program who fulfill the province’s labour market and economic development needs.
It is important to note that the immigration process can be complex and time-consuming. It is recommended to seek the advice of an immigration lawyer or consultant before applying.
Overall, Nova Scotia’s business immigration program offers a great opportunity for entrepreneurs to immigrate to Canada and establish a business in a welcoming and supportive community. With the right planning and preparation, applicants can successfully navigate the immigration process and achieve their goals.