The Nova Scotia government is creating two new immigration streams aimed at attracting foreigners with money to invest.
The first is called the entrepreneur stream and allows those with a net worth of at least $600,000, and at least $150,000 to invest in a Nova Scotia business, the chance to immigrate.
The second, the international graduate entrepreneur stream, aims to convince international students studying in Nova Scotia to remain here after their university or college studies.
Immigration Minister Lena Diab said no other province has offered that entryway into the country.
"I'm extremely, extremely pleased to be announcing this stream because it is the first of its kind in the country," she said.
Both streams are part of Nova Scotia's nominee program, which is capped this year at its highest level ever — 1,350 applicants.
Spread the news, universities
Premier Stephen McNeil, who helped launch the initiatives, called on post-secondary institutions to spread the news.
"We believe that's a stream that universities can use to market globally to bring more students into their university," he said.
"If you're an entrepreneur student in a foreign country and want to start a new life in Canada, this is the place to come to.
"This is the province not only where you'll get a quality education but you'll also get an opportunity to create a permanent residency and create your own employment and your own job here."
Wadih Fares, a successful Halifax-area developer, has offered his support for the new streams.
"This province is doing a lot on immigration," he said. "We are becoming the example in Canada. These two new streams will no doubt about it strengthen our economy throughout this province."
New immigration streams