What are your options for Canadian Business and Investor PNP?
New Brunswick Entrepreneurial Stream
Provincial Nominee Program
The New Brunswick Provincial Nominee Program (NB PNP) Entrepreneurial Stream is designed to attract experienced entrepreneurs who wish to immigrate to New Brunswick permanently to establish, operate and actively manage a business.
Personal Eligibility Requirements
To be eligible to apply under this stream, the Principal Applicant must:
- Have an eligible connection to New Brunswick (i.e. complete an exploratory visit to New Brunswick, participate in an Entrepreneurial Stream information session, etc.)
- Exploratory visits must be completed within 24 months prior to submitting an Expression of Interest (EOI), and must be for at least five full business days;
- Be between 22-55 years of age;
- Have a verifiable personal net worth at least CAD$600,000, of which CAD$300,000 must be liquid and unencumbered funds;
- Be able to invest at least CAD$250,000 of personal funds to establish a business in New Brunswick;
- Make a CAD$100,000 refundable deposit;
- Have basic English or French language proficiency equivalent to Canadian Language Benchmark level five (5) or higher in each category on a valid language test;
- Have completed at least two (2) years of full-time post-secondary education;
- Demonstrate at least three (3) out of five (5) years of experience in managing and owning a business or have at least five (5) out of five (5) years of experience in a senior business management role;
- Demonstrate intent to permanently reside in New Brunswick and actively manage the day-to-day activities of the operation;
- Submit a detailed business concept proposal;
- If invited to submit an application, apply for and submit a final net-worth evaluation report by the given deadline.
Successful Applicants are required sign a Performance Agreement with the government of New Brunswick. In order to receive the deposit back, Applicants must establish their business and meet the terms of the Performance Agreement within two (2) years of landing in New Brunswick.
Eligibility Requirements for Business
To qualify for the stream, the Principal Applicant must have ownership of at least one-third of the business. Furthermore, the proposed business must:
- Be the continued operation of an existing business or the creation of a new business;
- Be of economic benefit to the province;
- Be established as a sole proprietorship, partnership or corporation;
- Be a private-sector, for-profit entity with the purpose of making a profit from active income through the sale of goods and/or services;
- Be considered a permanent business in New Brunswick;
- Create at least two (2) full-time job opportunities for Canadian citizens or permanent residents living in New Brunswick and not related to the Applicant;
- Comply with all applicable federal, provincial or municipal legal, regulatory or licensing requirements that govern the operation;
- Participate in site visits to verify compliance with the terms and condition as outlined in the Performance Agreement.
Key Staff Applicant Requirements
Applicants who meet the eligibility requirements may propose one key staff member whose expertise is crucial to the success of the proposed business. Key staff members will be eligible to apply for a Canadian work permit and may be eligible to be nominated for permanent residence. In order to be eligible, the key staff applicant must:
- Have education and experience consistent with the prospective occupation in British Columbia as senior manager, or in a professional or technical position;
- If work experience and education are not specifically identified in the proposed position, possess at least two (2) years of post-secondary education;
- Have worked with the Principal Applicant in a senior position for at least one (1) year in the last three (3) years;
- Have the proposed position fall under NOC Skill Types 0 or A.
Key staff applicants are also required to sign a Performance Agreement with British Columbia if approved.
Purchasing an Existing Business
If the applicant is interested in purchasing an existing business in New Brunswick, the applicant must demonstrate that the business meets the following conditions:
- The existing business must have been in continuous operation by the same owner for the last three (3) years prior to purchase;
- The previous owner of the business must be a Canadian citizen or permanent resident;
- The business must be purchased at a proven fair market value;
- The business must demonstrate a net profit for at least two (2) of the three (3) previous years;
- All existing permanent full-time jobs must be preserved with commitment to maintain similar wages and employment terms;
- The business must not be in receivership and/or must not have filed for bankruptcy in the three (3) years prior to purchase.
Applications may be denied on the following grounds:
- Direct or indirect misrepresentation or if the Applicant has ever been refused by another immigration program in Canada for misrepresentation;
- If the Applicant proposes an ineligible business;
- If the Applicant is unable to prove intent to reside and actively manage the business in New Brunswick;
- If the Applicant is a passive investor;
- If the Applicant has another active application in process through another immigration program in Canada;
- If the Applicant has a criminal record;
- If the Applicant has not been legally admitted into their current country of residence;
- If the Applicant is in Canada and is out of status or has been working without authorization;
- If the Applicant has an unresolved humanitarian and compassionate (H&C) claim in Canada or are a failed H&C claimant living in Canada;
- If the Applicant has an unresolved refugee claim in Canada, is a failed refugee claimant living in Canada or is under a removal order in or outside of Canada;
Acquiring Permanent Residence
The Entrepreneurial Stream is a multi-step process requiring registration and submission of an EOI to the NB PNP first. The NB PNP will invite the highest-scoring registrants to submit a full application. Upon approval of the application, Applicants will receive a nomination from the NB PNP to support the application for permanent residence. Applicants have 60 days from issuance of the nomination to sign the Performance Agreement and make the CAD$100,000 deposit.
Within six (6) months of receiving the nomination, Applicants must apply to IRCC to become permanent residents under the Provincial Nominee Class. Upon receipt of the permanent resident visas, Applicants must move to New Brunswick to begin establishing the business. Applicants are required to report their landing date within 30 days of landing and to participate in meetings with the Department of Post-Secondary Education, Training and Labour at certain time intervals throughout the business establishment period.
An application for a refund of the CAD$100,000 deposit can be made three (3) years following the Applicant’s landing date in Canada or one (1) year after the business commencement date, whichever comes first.
Application Processing Time
There are no set application processing times for the NB PNP. Permanent residence application processing times for the Provincial Nominees Class are currently 15 to 19 months.