The New Brunswick Entrepreneur Program is a business immigration program for experienced foreign entrepreneurs ready to establish or purchase for expansion, operate and actively manage a business while living and settling in New Brunswick permanently.
A candidate must meet the eligibility requirements and score a minimum of 65 points of 100 points to express an interest in applying for permanent residence through the New Brunswick Entrepreneurial Stream.
The actual business establishment, including the required investment of a minimum of C$250,000 in the business, must occur within two years post-landing in New Brunswick as a permanent resident. A business immigrant can apply for a refund and return of C$100,000 deposit within three years post-landing in New Brunswick or earlier subject to certain conditions.
Foreign entrepreneurs may start a new enterprise or purchase the existing business for economic development. A business can be established in the form of a sole proprietorship, partnership or corporation. A business immigrant must have/acquire a minimum of 33.33 % ownership and assume an active senior management role in the day-to-day operation of the company. Only Canadian citizens or permanent residents can be partners in the business. The sale of goods or services for profit must be the primary purpose.
Investment in Business
An entrepreneur immigrant should invest a minimum of C$250,000 in a business in New Brunswick. This is the amount before tax, as well as it excludes working capital (i.e., wages, lease, cash flow) and items purchased for personal use (i.e., residence, vehicle). A business immigrant must make this investment from the personal net worth. Some expenditures can be counted towards the eligible investment only to a certain extent, e.g., marketing services of C$10,000 or 4%, whichever is lower.
Active Management of Business
A business immigrant must actively manage the business by being physically present at the business premises in New Brunswick on a day-to-day basis. Active management also means assuming the risk and influencing the direction of the business.
Jobs Creation for Canadians and Permanent Residents in New Brunswick
The business must employ/create at least two full-time (minimum of 30 hours per week) jobs for permanent residents or citizens of Canada living in New Brunswick. Obviously, the employment of a business immigrant or their family members (spouses and dependent children) would not count as job creation.
Exploratory Visit or other Connection to New Brunswick
Before a candidate can submit an expression of interest, they must conduct one activity to demonstrate the eligible connection with the Province of New Brunswick. This could be a five business days exploratory visit, participation in the online information session, or connection through previous studies or work or a close relative in New Brunswick.
Requirements for Business Immigrant
A business immigrant must be between 22-55 years of age on the day when they submit a complete application in response to an invitation to apply.
Personal Net Worth
A business immigrant must have a verifiable personal net worth of at least C$600,000, of which C$300,000 must be liquid and unencumbered. Net Worth Verification Report must be submitted after the invitation to apply is received.
English or French Language Test Result
A business immigrant must have valid English or French test results from a designated testing organization to show they have obtained a minimum score equal to or greater than a Canadian Language Benchmark (CLB) 5
A business immigrant must have a two-year post-secondary education after a high school diploma and a valid Educational Credential Assessment (ECA) report for foreign degrees.
Business Ownership/Work experience
A candidate must have three years in the last five years of business ownership experience or five years in the previous five years of senior management experience.
Business ownership experience must be gained as a business owner of at least 33.3%, personally involved in the day-to-day operations as the primary decision-maker, responsible for supervising at least two people. Senior management experience must be gained as a senior manager, personally involved in the day-to-day operations as the primary decision-maker, responsible for supervising at least two people.