Immigrate to New Brunswick, Canada as a foreign entrepreneur through New Brunswick Entrepreneurial Stream. Check your eligibility today.
NBPNP - New Brunswick Entrepreneurial Stream
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Book a Strategy MeetingThe New Brunswick Entrepreneurial Stream is for foreign entrepreneurs and senior managers that intend to set up or purchase, operate, and manage a business while living in this province. Prospective applicants must ensure they meet the program’s eligibility requirements prior to applying.
It is part of the New Brunswick Provincial Nominee Program (NBPNP), through which the province can nominate people for Canadian permanent residence based on eligibility criteria set by the province.
Eligibility Requirements
The minimum eligibility requirements for the New Brunswick Entrepreneur Stream are summarized below:
Age
The candidate must be between 22 and 55 years of age. Candidates between the age of 35 and 50 will receive more points on their Selection Factors.
Work Experience (within last 5 years)
- Prospective entrepreneurs must have a minimum of three years of experience as business owners in the last five years. A business owner counts as someone who has a minimum of 33.3% ownership in the business and is involved with daily operations.
- Alternatively, the entrepreneur applicant can qualify if they have senior management experience. In this case, they must have a minimum of five years of senior management experience in the last five years.
- Candidates can get additional Selection Factor Points if their business experience exceeds the minimum amounts stated above.
Language Proficiency Requirements
Applicants must demonstrate their proficiency in English or French by scoring a minimum of CLB 5 or NCLC 5 on an approved language exam. They can score more points on their Selection Factors if their score is higher.
Education Requirements
Candidates must have completed a two-year college or university program that is equivalent to a Canadian one at minimum. They must also complete an Educational Credential Assessment (ECA) report to prove that their education is up to par with Canadian standards.
Candidates can get additional points on their Selection Factors if they have degrees from longer or more advanced programs.
Net Worth
Prospective entrepreneurs must have a personal net worth of $600,000 CAD or greater. $300,000 CAD from this net worth must be liquid and available. The net worth amount must also be verifiable.
Business Concept Requirements
Applicants must submit a comprehensive business concept with their Expression of Interest (EOI). This concept demonstrates their future business benefits New Brunswick’s economy and is capable of turning a profit.
Investment Requirements
- The candidate must invest a minimum of $250,000 CAD in the business. They will also need to complete a net worth verification.
- The applicant must make a $100,000 CAD refundable deposit.
- The candidate must control a 33.3% or greater business equity share.
Requirements for Purchasing an Existing Business
- The business must have been continuously operated by the same owner in the three years preceding the candidate’s purchase.
- The previous owner must also be a Canadian citizen or Canadian permanent resident.
Business Requirements
- The candidate’s business must benefit New Brunswick’s economy.
- The candidate must possess an ownership share of 33.3% or greater in the company.
- The applicant must take on an active management role and oversee daily operations at the company.
Job Creation
The candidate’s business must create two or more full-time positions for Canadian citizens or Canadian permanent residents residing in New Brunswick.
Exploratory Visit Requirements
Prospective entrepreneur applicants must make an exploratory visit to New Brunswick. This visit must last a minimum of five business days.
Adaptability Requirements
Candidates who are immigrating with their common-law partner or spouse can get additional Selection Factor points if their spouse has:
- An English or French language proficiency score of CLB 5 or NCLC 5 or higher.
- Worked for six months or more in a full-time position in New Brunswick.
- Completed a University or College program lasting a minimum of one year in New Brunswick.
Step-by-Step Process
Prospective entrepreneurial candidates can apply for the New Brunswick Entrepreneurial Stream using the following steps:
Stage 1
- Research & Preparation
- Registration
- Application
Stage 2
- Application Approval
- Applying for Permanent Residence
- Post-Landing Process
Stage One
1. Research & Preparation
Applicants must first determine that they meet the eligibility requirements stated above. Candidates are also encouraged to complete their exploratory visits during this stage. Once the exploratory visit is complete, they must then gather and prepare the documents required for their application.
2. Registration
Next, candidates can create their online candidate profile at www.welcomenb.ca. They can then submit their Expression of Interest (EOI) that shows their interest in becoming a Canadian permanent resident through the New Brunswick Provincial Nominee Program. Entrepreneurial candidates who meet the minimum eligibility requirements will be placed in a pool of candidates.
3. Application
Successful entrepreneur applicants will then receive an Invitation to Apply (ITA) and will have 90 days to submit their application through the New Brunswick Online System and pay the associated processing fee.
The PETL will then review the candidate’s application. They may also ask the applicant to attend an interview if they require additional information.
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Stage Two
4. Application Approval
If the PETL approves the application, they will issue the candidate a nomination certificate along with a Business Performance Agreement (BPA). The applicant must then make their $100,000 CAD refundable deposit and submit their signed Business Performance Agreement within the next 60 days.
5. Applying for Permanent Residence
Candidates can then submit their Application for Permanent Residence with Immigration, Refugees, and Citizenship Canada (IRCC). Successful candidates will be issued a Permanent Resident visa that allows them to become Canadian Permanent Residents
6. Post-Landing Process
Entrepreneurs must enter Canada and report to PETL within thirty days of their arrival. They must then submit a report discussing their steps to set up their business in this province and create a verbal presentation discussing their settlement in New Brunswick within 60 days of their landing date.
Entrepreneurs must then offer a report on their business’s progress and their settlement within 180 days of their landing date. They must meet the terms and conditions in their Business Performance Agreement within two years of their landing date. They can then apply for their $100,000 CAD deposit refund three years after their landing date or one year after meeting their BPA’s conditions.
How ELAAR can help you?
Prospective entrepreneurs and business people who wish to apply for the New Brunswick Entrepreneurial Stream of NBPNP should get in touch with us. Our team of Regulated Immigration Consultants is familiar with each of the NB PNP programs and can help optimize your application and improve your chances of receiving a provincial nomination. Start your entrepreneurial journey in New Brunswick with Elaar Immigration.
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Immigrate to the beautiful province of New Brunswick as an entrepreneur, or investor through New Brunswick Entrepreneurial Stream.
