Basic of NSNP - Entrepreneur Stream
With the help of the Entrepreneur stream, experienced business owners or senior business managers are able to live in the province of Nova Scotia as permanent residents. Immigrants have to start a new business or can buy an existing and running business and must be able to actively participate in the day-to-day management of the business. After successfully running the business for a year, the entrepreneur can be nominated for permanent residency. The application for this stream is done only by the invitation.

Eligibility Criteria for NSNP - Entrepreneur Stream
Following are the eligibility criteria for the applicants that will allow them to apply under the Nova Scotia Entrepreneur stream:

The applicant needs to be older than 21 years old.
Must possess the minimum $600,000 CAD in Net Business and personal assets, that is verified by third party professionals designated by Nova Scotia Office of Immigration (NSOI)
Have to demonstrate the accumulated net worth is gathered by legal means, that is also verified by third party professionals designated by Nova Scotia Office of Immigration (NSOI)
Have to agree to make a minimum capital investment of $150,000 CAD to establish or purchase a business in the province of Nova Scotia
Have to show that the applicant possess required language proficiency by scoring CLB level 5 in either English or French
For educational qualification, the applicant must have a minimum Canadian high school diploma OR an equivalent foreign credential that is proven by an Educational Credential Assessment (ECA)
Must possess a Business Establishment Plan and have to demonstrate an in-depth knowledge of the business plan
Must agree to reside in the province of Nova Scotia
In order to qualify as an eligible business under Entrepreneur Program, it is also needed to meet the following criteria:

Applicant have to own at least one third (33.3 percent) of the equity of the business
An applicant has to provide active and on-going participation in the day to day management of the business from the location of the business in the province. Business must not be managed from any other location in Nova Scotia or from any other Canadian province or territory or other countries
The business has to be a for-profit entity with the main purpose of earning points via the sales of goods and/or services.
Business must meet the legal requirements of the community in which it operates
Business must be considered a “permanent establishment” as defined under subsection 400(2) of the Canadian Income Tax Regulations, 1985
Business is liable to pay income tax on income that is earned as a result of “permanent establishment” in Nova Scotia, irrespective of income or other taxes which may be payable in other jurisdiction as a result of income earned or other business activity
Business must have the potential to be able to create an economic benefit to Nova Scotia
As we discussed before, an entrepreneur can buy an existing business or start a new business in the province. If the applicant chooses to start a business then the applicant must also:

Create at least one full time (or equivalent) employment opportunity for a Canadian citizen or a permanent resident of Nova Scotia. The position created must:
Be over and above any position filled by the approved applicant
Be relevant and directly related to the applicant’s business and
Meet the prevailing wage rates in the province
For the applicants who are purchasing the existing business in Nova Scotia, the following requirements must be met:

Business must have been in continuous operation by the same owner for the past five years
Applicants must complete an exploratory visit to meet the current owner
Applicants must provide evidence that proves reasonable efforts were taken to establish a fair market value for the business
Business must be active and not in receivership; and
Applicant have to offer employment on similar terms and conditions to existing staff that includes maintaining existing wages and employment terms
The process to apply for Canada PR Visa through NSNP - Entrepreneur Stream
There is a total of six steps for the application process and these steps are as follows:

Step 1: Applicants have to submit an Express of Interest (EOI) profile to the Immigration office of Nova Scotia. EOI profile of the candidates will be created by submitting the credentials like about their business ownership or management experience, language proficiency, educational qualification, investment, age, adaptability, and business. Applicants who are able to meet the criteria will be able to submit an EOI. The candidate’s EOI profile will be awarded points based on the point matrix. EOI profiles are then submitted into the EOI pool with the profiles of the other candidates. EOIs can remain in the pool for a period of one year from the date of receipt.

Step 2: As mentioned before, profiles of the candidates are awarded points based on the point matrix. The highest scoring profiles are notified by the Nova Scotia Office of Immigration (NSOI) that they are given an Invitation to Apply (ITA) to submit their application to the Nova Scotia Nominee Program (NSNP). The complete application submitted then will be assessed by NSOI. In order for the application to be complete, it must contain:

Complete application form (submitted within 90 days of issuance of ITA letter);
Supporting documentation (submitted within 90 days of issuance of ITA letter);
Business Establishment Plan (submitted within 90 days of issuance of ITA letter); and
Net worth verification report that is prepared by one of NSOI’s designated Net Worth Verifiers (submitted within 180 days of issuance of ITA letter)
Step 3: After the successful assessment of the application by the NSOI, the candidate will be contacted for an in-person interview with an official of NSOI. All the interviews will be held in the province of Nova Scotia and are expected to take place within 60 days of being contacted. On successfully finishing the interview, the candidate will be sent a Business Performance Agreement which is to be reviewed and signed by the candidate.

Business Performance Agreement is a legal agreement with the province that mentions the amount of investment the candidate will make and the business sector in which the business will operate, along with other major information.

Once the NSOI receives a receipt of the Business Performance Agreement, the candidate will be issued an Entrepreneur Approval Letter and instructions to apply for the work permit to the Immigration, Refugees & Citizenship Canada (IRCC).

Step 4: On successfully landing the work permit, applicants will be able to land in the province of Nova Scotia with their family members and can settle, and start or acquire their business. For this, applicants are given time duration of 1 year on receiving the Entrepreneur Approval letter or their file will be closed. Applicants are also required to attend an arrival meeting with an NSOI officer within 60 days of their arrival.

Step 5: Once the applicants are able to satisfy the conditions of business agreements, then they are able to apply to be nominated for permanent residency in the province via NSNP by submitting a Nomination Request Form. In case the applicant is nominated by the NSNP:

The applicant will receive a letter to confirm their nomination that is issued by NSOI
Proof of Nomination which is sent directly to IRCC by NSOI, which expires within 6 months of the date of issuance
Step 6: On getting the nomination, the applicant will be able to apply to IRCC for permanent residence within six months. It is to be noted that the NSNP nomination does not give assurance for getting the Permanent Resident Visa. When the visa office approves the application, the candidate is issued a Confirmation of Permanent Residence.