New Brunswick Entrepreneur Immigration
New Brunswick Entrepreneur Immigration focuses on qualified foreign entrepreneurs interested in owning and managing a business in the province of New Brunswick. Through this PNP program, prospective immigrants with the skills needed by the province may receive a New Brunswick provincial nomination to support their application for Canadian permanent residence.
New Brunswick Entrepreneur Immigration
New Brunswick Entrepreneur Immigration
The PNP entrepreneur immigration stream of New Brunswick is created to attract experienced entrepreneurs who want to live and manage a business that will contribute to the growing economy of the province. After running the business and if meeting the criteria, applicants can apply for a Provincial Nomination to support their Canadian PR application.
New Brunswick is Canada’s only officially bilingual province. New Brunswick is home to Fredericton, Saint John, and Moncton, fascinating cities for newcomers worldwide.
Application process for New Brunswick Entrepreneur Immigration
To be considered into the pool of potential candidates, individuals must meet the minimum eligibility requirements, score at least 65 points across all selection factors and present a business concept that will support the growth in the province. Aso, applicants must demonstrate at least one of the following connections:
- A visit to New Brunswick of at least five business days.
- Participate in an Entrepreneurial Stream information session conducted by an official representative from the Government of New Brunswick.
- The applicant or the spouse or common-law partner has a diploma that requires at least two years of full-time study at a New Brunswick post-secondary institution.
- The applicant or the spouse or common-law partner has experience in a high-skilled occupation (NOC A, B or 0) for a New Brunswick company of at least one year.
- The applicant or the spouse or common-law partner has family members who are Permanent Residents or Canadian citizens residing in New Brunswick for at least one year.
The trip must be a minimum of five full business days. During it, applicants need to conduct extensive market research, set up meetings with business people and officials in New Brunswick.
When finishing the trip, candidates need to submit an Exploratory Visit Report with their application.
Candidates selected from the pool will obtain a written Invitation to apply letter to submit a full application to the NBPNP.
You need to sign the required forms, provide documents in the required format and submit a more detailed Business plan with your application. This business plan will be assessed on:
- Overall quality.
- Enough research when preparing the plan.
- Practical application of the business plan in New Brunswick.
- Assess the business becoming economically established through the implementation of the plan.
All applicants must undergo a professional net worth verification process.
The New Brunswick PNP Entrepreneur Immigration stream requires applicants to go on an interview to assess their business plan based on :
- Management experience.
- Understanding of business in New Brunswick.
- Suitability to become economically established in New Brunswick.
- Business plan including all the details.
If approved, the NBPNP will send the applicant an instruction letter for submitting a Business Performance Agreement, which details the terms and conditions that need to be met.
The applicant will receive a provincial nomination certificate, which is valid for six months from the date of issuance. They need to submit a complete application for Canadian permanent residence to Immigration, Refugees and Citizenship Canada (IRCC).
Eligibility criteria for New Brunswick Entrepreneur Immigration:
- Have a two-year post-secondary education after high school.
- A score of Canadian Language Benchmark (CLB) 5 in English or French.
- Applicants must be 22 and 55 years of age.
- Prove you desire to settle and run a business in New Brunswick. The applicant must have a managing role daily in the business.
- Have a business plan approved by a New Brunswick government to show how your business will help the province’s economic growth.
- Have a personal net worth of at least CAD 600,000, of which CAD300,000 must be unaffected by debts or other obligations.
- Have a business concept that demonstrates an economic benefit to the province.
- At least three years of experience in owning a business or five years of experience in a senior business management role and supervising at least two employees.
- Score at least 65 points on New Brunswick’s unique selection grid.
When the business plan is approved, candidates will also be ranked based on the following selector factors: Age, language, education, personal net worth, ownership and management experience, adaptability points for a spouse or common-law partner.
Business requirements under the New Brunswick Entrepreneur Immigration program:
Applicants to the New Brunswick PNP Entrepreneur Immigration must make a minimum business investment of CAD 250,000 in New Brunswick. Also, they must have 33.33 %ownership and an active senior daily management role in the business.
If purchasing an established New Brunswick business applicants need to prove:
- The business has been in continuous operation by the same owner for the past three years.
- It will be purchased at a proven fair market value.
- The business has proven net profit for at least two years.
- It will provide continued employment to existing staff on similar terms and conditions.
- It has not filed for bankruptcy for the three years before the date of purchase.
The primary purpose of earning profits through the sale of goods and/or services
When operating the business, the applicant must ensure the business:
- It has all the necessary licenses and permits from provincial and or federal authorities.
- Pay income taxes on taxable income earned in the province.
- Follows all Canadian laws in establishing, purchasing and maintaining the business.
- The business complies with all legislation in the province, including Employment Standards, Human Rights Act and Occupational Health and Safety Act.
The applicant must assume active business management by accepting risks and determining the company’s direction, providing ongoing and operational management to the industry and being present daily at the business premises.
Create new jobs in New Brunswick
Under the New Brunswick Entrepreneur Immigration program, you must create at least two full-time jobs for permanent residents or citizens of Canada living in New Brunswick. The two full-time jobs cannot be for the applicant or other family members.
Participating in site visits
Two site visits may be organized to ensure the applicant complies with the terms and conditions outlined in the Business Performance Agreement.
During these visits you must have: proof of business registration and incorporation, business permits and licences, bank statements, invoices showing proof of eligible investment, financial information, payroll documents, among other documents.
Frequently asked questions
To help grow the province’s population and economy, the New Brunswick PNP is an immigration program made possible through an agreement with the Canadian government.The New Brunswick PNP entrepreneur stream is created to support entrepreneurs to open their own business in New Brunswick and be eligible for Canadian permanent residency.
The PNP New Brunswick selects and nominates, foreign qualified workers who want to live in New Brunswick and contribute to the New Brunswick economy through different programs.
It depends on each province and program. Individuals with a PNP nomination are granted 600 points to add to their Express Entry application. The PNP certificate would give a final Express Entry score above 900, significantly higher than the current cutoff selection score.
New Brunswick is recognized for its low cost of living. It is perfect for families, and utilities are much lower than in the rest of Canada. It is also an excellent option to run a business under the New Brunswick PNP entrepreneur stream.
New Brunswick has a resource-based economy with forestry, mining, and fishing. Also, tourism, agriculture and small-scale manufacturing.
Once the applicant receives the nomination from any province of Canada, it gives an additional 600 CSR score for its PR application, which is almost a guarantee of getting Permanent residency in Canada.