NB Business Immigration Stream
The NB Business Immigration stream helps applicants to buy/set up and run a business in New Brunswick (NB).
Who can apply to the NB Business Immigration Stream of NB PNP?
To apply to the NB Business Immigration stream, meet the following terms:
The business must be:
- Firstly, beneficial to the economy of the province.
- Secondly, registered and set as a sole proprietorship, partnership, or corporation
- But in the case of a partnership, other partner(s) must be a permanent resident(s) or a Canadian citizen(s).
- Either is running as an established business or a new business has been set up.
- Also, is setup/running as a for-profit entity to get revenue through the sale of goods and/or services.
- Finally, is a permanent settlement as defined under subsection 400(2) of the Canadian Income Tax Regulations, 1985.
NB PNP may fast track the processing of those applications whose business plans will benefit NB greatly. Also, these business plans can give economic benefits through the following:
- Increase value-added manufacturing or processing for NB exports.
- Growth in research and development.
- Develop new products and or services.
- Developing an innovative approach towards traditional businesses.
- Enhancement/development of new technologies.
- Offering NB, the transfer of technology and specialised knowledge to its people.
- Giving products and/or services to an under-served local or regional market.
- Identification of immediate needs in specific regions or communities; and
- Others, as identified by PETL.
At the time of investing in a business, you must do the following:
- Firstly, make a minimum investment of CAD $150,000 before tax.
- Secondly, have a minimum of 33% equity in the business.
Buying an existing NB business
In case of buying an existing business, you must prove to PETL that the business meets terms such as:
- Has been running under the same owner for the past 3 years. Also, the owner must be a permanent resident or Canadian citizen.
- Will be bought at a market value and a fair price.
- As per audited financial statements, and corporate tax assessments the business has been earning a net profit for at least 2 years in 3 years.
- Will continue to employ existing staff as per earlier terms and conditions.
- Before the purchase date, the business is not in receivership and/or has not filed for bankruptcy in the past 3 years, and
- When buying a profitable business, the goodwill must not exceed 10% of the netbook value.
Job Creation in NB
The business must create 1 full-time, permanent, continuous, paid job position. Also, this position cannot be filled by the applicant, their spouse/common-law partner, its dependent children and/or other family members. Besides, a full-time job means 30 hours of work per week.
Running a business in NB
To run a business in the province, you must:
- Make sure the business pays all taxes on income earned in NB, irrespective of the taxes that are payable in other jurisdictions due to income received or any other business activity.
- Abide by all legislation in NB, including but not limited to, the Employment Standards Act, Human Rights act, and Occupational and Health and Safety Act.
- Follow all Canadian laws when it comes to buying, setting up, and running the business, and
- Get all licenses/permits from all applicable municipal, provincial and/or federal authorities.
Active managerial role in business
As per the NB Business Immigration stream, the applicant must be actively involved in the day-to-day operations of the business. So, as per the Immigration and Refugee Protection Regulations (IRPR), section 87(6) (c) you must do the following:
- Assess risk and direct the business.
- Be actively involved in running the business.
- Be present at the business premises daily.
Net worth verification report
If you get an ITA, you must submit a net worth verification report duly assessed by a PETL designated professional accounting service provider. Also, this report will share the:
- Total verifiable net worth.
- Details of legally accumulated funds, and
- The further requirement for investigation.
Presence in NB
While setting up your business:
- You must be living in NB for at least 75% of the duration of the Business Establishment Period,
- And must be living within 100 km from the place of your business.
Before getting a nomination certificate, PETL will conduct research and interview at the site of business. Because they will check if the applicant meets all the terms and conditions of the signed Business Performance Agreement (BPA).
Qualifying Seasonal Businesses
Under this factor, certain seasonal businesses qualify under the NB Business Immigrations stream.
Agriculture (some businesses might qualify)
- Business must be running for a minimum period of 9 months out of 12.
- A minimum farm size of 100 hectares.
- Agricultural business plans will be assessed and evaluated by an authority committee before an ITA is sent.
Tourism (some businesses might qualify)
- Minimum operating time must be a minimum of 9 months out of 12.
- If the minimum equity is more than $ 1 million CAD, then the business must be running for a minimum period of 6 months out of 12.
- Tourism business plans will be assessed and evaluated by an authority committee before an ITA is sent.
The following list is extensive and PETL reserves all rights to modify the list as per its discretion:
- Information and communication technology (ICT)
- Value-added wood
- Digital health
- Food and beverage
- Contact/call centres
- Energy innovation
- Aerospace and defence
The following businesses do not qualify under the NB Business Immigration stream:
- Any business that offers or deals with explicit services, this refers to but is not limited to the creation, marketing, distribution, and/or sale of pornography, or explicit products and/or services, and/or are providing erotic services.
- Bed and breakfast accommodations.
- Coin-operated occupations.
- Consultancy (a business or agency that offer professional advice in a particular field).
- Online language and educational training centres.
- Settlement services – that helps newcomers or temporary residents to settle.
- Cooperative (business or organisation whose owners are its members)
- Ecommerce or online businesses.
- Domain names.
- Hobby farm for personal use and does not the main source of income.
- Brokerage businesses (a business that gets income by being a middleman between the buyer and the seller.
- Financial services including but not limited to cooperative, and/or credit unions, short-term borrowing such as but not limited to a payday loan, cheque cashing, money changing and cash machines, cheque cashing, money changing and cash machines, pawnbrokers etc.
- Any home-based business or any business that is running from a residential place.
- Landlord property and rental management.
- An inn or boutique that less than 5 rental units. And generates revenue less than CAD $100,000.
- Not-for-profit businesses and organisations.
- Property investment (purchase, construction, development of real state where the main aim is to get a return on investment/rental/money from the resale. But construction and/or development may qualify if the applicant gives multiple signed contracts.
- Besides, this does not include buying existing properties/businesses.
- Professional services/practises where the applicant does not have proper licensing or cannot show proof of the same.
- The business is an immigration-linked passive investment scheme as per the o Immigration and Refugee Protection Regulations section 87(5)b and as defined by IRPR 87(9).
- Is running from a jurisdiction that is outside NB.
- Offers products and services that can be used seasonally. All businesses applying to the NB Business Immigration Stream must be running for 12 months regularly in a year except for certain businesses that are exempt from this term.
- Promotion and/or sale of illegal items and items that favour, support, inspire or promote people to do illegal activities such as but not limited to fake products, copies of movies, software, and trademark etc.
- Promotion and/or sale of a controlled substance and illegal drugs, prescription drugs and items, that are in use of making controlled substances and/or drug-related items, and
- Any business which can bring harm to the NB, if they are associated with it.
If an applicant wants to live in NB and set up a business, then they must visit the province to check the profitability of their business. Thus, they must conduct an exploratory visit for a minimum of 5 days excluding travel days, public holidays, and weekends. Besides, the applicant must submit a report of the visit along with their application.
Agree to live in NB
All applicants must agree to live in NB if they get a nomination certificate.
To know about NB Business Immigration stream selection factors, click here.
Who can not apply to the NB Business Immigration Stream?
An applicant can not apply to the NB Business Immigration stream because of the following:
- Have an active application registered with PETL before applying to this stream.
- Already have a property/business in any other province/territory of Canada.
- Your application is already under processing in any other province/territory.
- The application has been rejected earlier due to misrepresentation through any other immigration program.
- Are living in Canada illegally.
- Do not have permission to work in Canada.
- Are living in Canada when you do not have the legal status to do so. Also, you have not applied for restoration of your legal status within 90 days of the expiration of legal status.
- Have a failed or unresolved refugee claim or humanitarian and compassionate claim. Also, are currently living in Canada.
- Are not legally living in the current country of your residence.
- Are currently studying full-time in a post-secondary educational institution in Canada.
- Have received a full-time, seasonal, or part-time or casual job in NB.
- Are registered under the Live-in Caregiver Program of Canada.
- Your personal net worth can not be verified by a third party; Or
- You intend to be a passive investor. This means that you do not wish to fully partake in the operations of the business you are investing in NB.