New Brunswick Entrepreneurial stream
This category of New Brunswick’s Provincial Nominee Program (NBPNP) targets qualified foreign entrepreneurs who are interested in owning and actively managing a business that will contribute to New Brunswick’s economy.
This stream functions as an Expression of Interest (EOI) system. The first step in this process is the submission of an EOI to the New Brunswick Department of Post Secondary Education, Training and Labour.
Once an application is reviewed and assessed based on the eligibility requirements, an applicant is assigned a score based on various factors.
The highest-ranked candidates are invited to submit an application for a provincial nomination under the NBPNP.
Program Requirements
Requirements | |
|---|---|
| Express Entry Profile | No |
| Connection to Province | Yes |
| Job Offer | No |
| Language Proficiency | CLB 5 |
| Level of Education | Post-secondary |
| Work Experience | Business ownership and management 3 years |
| Investment Requirement | Investment: 250,000 CAD Personal Net Worth: 600,000 CAD |
Age
Candidates must be between 22 and 55 years old on the day their application is received.
Eligibility Requirements for the New Brunswick Business
In order to be considered eligible, the business must be:
of significant economic benefit to New Brunswick;
established as a sole proprietorship, partnership or corporation; (in the case of a partnership, the other partner(s) must be a Permanent Resident or Canadian Citizen);
the continued operation of an existing business or the establishment of a new business;
a private-sector, for-profit entity with the primary purpose of earning profits through the sale of goods and/or services; and
considered a “permanent establishment” as defined under subsection 400(2) of the Canadian Income Tax Regulations, 1985.
Significant economic benefit to New brunswick
The MPNP may grant priority processing to applications with business plans that have the greatest potential to create significant economic benefit through:
increased value-added manufacturing or processing for New Brunswick exports;
enhanced research and development;
development of new products and/or services;
development of innovative approaches to traditional businesses;
development and/or enhancements of new technologies;
the transfer of technology and specialized knowledge to New Brunswick;
providing products and/or services to an under-served local or regional market; and
other, as determined by the department.
Business Investment and acquisition/ownership
Applicants must be prepared to make a minimum business investment of CAD $150,000 in New Brunswick. In addition, the applicant must have 33.33 percent ownership and assume an active senior management role in the daily operations of the business.
Eligible Investment
An investment must be obtained from an applicant’s personal net worth and may include:
Business premises, including building and/or land up to a maximum of 25 per cent of the total business investment or actual cost and/or property improvements or leasehold improvements that increase the value of the business premises to a maximum of 25 per cent of the total business investment or actual cost, whichever is lower;
Equipment used by employees to enable them to perform their daily tasks;
Equipment necessary for use in primary production and manufacturing of goods;
Initial inventory to a maximum of 50 per cent of the total business investment or actual cost, whichever is lower. Initial inventory is considered to be inventory purchased up to the opening day of the business;
Intangible investments including goodwill and/or intellectual property may not exceed 10 per cent of the net book value of the business;
Professional services from North American companies, including marketing, promotions and services in connection with establishing the business to a maximum of 4 per cent of the total business investment or CAD $10,000, whichever is lower; and
Vehicle to a maximum of 5 per cent of the total business investment up to a maximum of CAD $15,000, whichever is lower. The amount must be amortized to reflect actual business use and a log similar to that used for income tax purposes is required.
Purchasing an established New Brunswick business
If an entrepreneur intends to purchase a pre-existing business, he or she must prove that the business:
has been in continuous operation by the same owner for the three years prior to the purchase date; and that the owner is a permanent resident or citizen of Canada;
will be purchased at a proven fair market value;
has achieved a proven net profit for at least two of the previous three years as demonstrated by audited financial statements;
will provide for the continued employment to existing staff on similar terms and conditions; and
is not in receivership and/or has not filed for bankruptcy for the three years prior to the date of purchase.
Operating the business and providing active management
When operating the business, the applicant must ensure the business:
- has all the necessary licenses and permits from the applicable municipal, provincial and/or federal authorities;
- pays income taxes on taxable income earned in the province, regardless of income or other taxes that may also be payable in other jurisdictions as a result of income earned or other business activities;
- complies with all legislation in the province including, but not limited to, the Employment Standards Act, Human Rights Act and Occupational Health and Safety Act;
- follows all Canadian laws in establishing, purchasing and maintaining the business; and
- be in operation for two years from the date of the refund and release of the deposit of CAD $100,000 to the applicant.
The applicant must assume active management of the business by:
- assuming risks and determining the direction of the business;
- providing ongoing and active management to the business from within New Brunswick; and
- being present at the business premises on a daily basis.
After receiving a provincial nomination, an applicant has six months to submit a federal application for Canadian permanent residence.
Applicants in this program must complete and submit a paper-based application for permanent residence and submit it by mail to the appropriate application centre. Paper-based PNP applications for permanent residence are generally processed within 18 months.
The first step towards moving to Canada is to get an assessment of your specific situation. Call us today at 1+613.222.7154 for an assessment to see if you are eligible to move to Canada, or fill out our online assessment form.
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