New Brunswick Business Immigration Stream
Summary:
The New Brunswick Business Immigration Stream is designed for experienced entrepreneurs ready to establish, operate, and actively manage a business in New Brunswick, Canada. This program offers a pathway to permanent residency for individuals who can contribute to the province’s economic development through investment and business acumen.
Eligibility Requirements
Age: Applicants must be between 22 and 55 years old.
Language Proficiency: A minimum Canadian Language Benchmark (CLB) level 5 in English or French is required, demonstrated through valid test results from recognized language testing organizations.
Education: A minimum of a two-year post-secondary education credential is necessary.
Business Ownership and Management Experience: Applicants must have at least three out of the last five years of experience in owning and managing a business (with at least 33.3% ownership) or five years in a senior management role.
Personal Net Worth: A verifiable personal net worth of at least CAD $600,000 is required, with a minimum of CAD $300,000 being liquid and unencumbered by debts or other obligations.
Business Investment: A minimum investment of CAD $250,000 into a new or existing business in New Brunswick is mandatory.
Business Concept: Submission of a comprehensive business concept that aligns with New Brunswick’s economic priorities is essential.
Application Process
Exploratory Visit: Conduct a visit to New Brunswick to research and understand the local business environment.
Expression of Interest (EOI): Submit an EOI to the New Brunswick Provincial Nominee Program (NBPNP), detailing your intent to establish a business in the province.
Invitation to Apply (ITA): If your EOI is selected, you will receive an ITA, prompting you to submit a full application.
Application Submission: Provide a complete application, including a detailed business plan, proof of net worth, and supporting documents.
Interview: Attend an interview with NBPNP officials to discuss your business proposal and intentions.
Business Performance Agreement (BPA): If approved, sign a BPA outlining the terms and conditions for your business operations in New Brunswick.
Work Permit: Apply for a temporary work permit to establish and manage your business in New Brunswick.
Business Establishment: Within the stipulated timeframe, establish your business as per the BPA’s terms.
Nomination for Permanent Residency: Upon meeting the BPA’s conditions, you will be nominated by the province to apply for permanent residency through Immigration, Refugees and Citizenship Canada (IRCC).
VIEW MORE DETAILS
The New Brunswick Business Immigration Stream operates on a points-based system, assessing applicants on factors such as age, language proficiency, education, business ownership or management experience, personal net worth, adaptability, and the quality of the business concept. A minimum score of 65 out of 100 points is required to be considered for nomination.
Points Allocation:
Age: Maximum of 10 points.
Language Proficiency: Maximum of 25 points.
Education: Maximum of 25 points.
Business Ownership/Management Experience: Maximum of 20 points.
Personal Net Worth: Maximum of 10 points.
Adaptability: Maximum of 10 points.
Adaptability factors include previous visits to New Brunswick, spouse’s language proficiency, and family ties in the province. The business concept is evaluated based on its economic benefit to New Brunswick, market research, business viability, and the applicant’s relevant experience.
Applicants are encouraged to conduct thorough market research and develop a robust business plan that demonstrates a clear understanding of the New Brunswick market and how their business will contribute to the province’s economic growth.
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I’m Rashid Ali, a Licensed Canadian Immigration Consultant, having a designation of RCIC (Regulated Canadian Immigration Consultant) from the College of Citizenship & Immigration Consultants of Canada or CICC (Previously known as ICCRC). CICC is the official regulator of immigration consultants in Canada. I’m also a member of the Canadian Association for Professional Immigration Consultants (CAPIC).
