New Brunswick Entrepreneurial Stream
The New Brunswick Entrepreneurial Stream is for foreign nationals who want to own or buy a business in the New Brunswick province.
If you want to apply under this stream, then you must submit an Expression of Interest (EOI). Also, you must submit your EOI to NB dept of Post-Secondary Education, Training and Labour. After verifying your EOI as per the streams’ factors, NBPNP will give you an Invitation to Apply (ITA). Because an ITA will help you in applying for a provincial nomination from New Brunswick.
Expression of Interest (EOI)
To apply for the New Brunswick Entrepreneurial Stream you must give an Expression of Interest (EOI). Also, to do so you must prove 1 of the following:
- Show proof of 5 days of business visits within 24 months, to the province. Besides, this visit must be for the period before submitting the EOI.
- You were a part of govt’s Entrepreneurial Stream Information program within 24 months. Also, this must be before submitting EOI.
- You and or your spouse/common-law partner have a full-time diploma/certificate. Also, it must be post-high-school and must be for a minimum of 2 years from NB.
- Your spouse/common-law partner and or you have a full-time, paid work experience for NB employer. Besides, this must be in NOC Skill Level 0, A, or B job. Also, it must be for 12 months (regular, 30 hours a week).
- You and or your spouse/common-law partner have relations in NB. These relations include:
- Grand Parent
- Grand Child
Note: Your relatives must be in NB for at least 12 months and must be a permanent resident/Canadian citizen.
Business visit before giving an application
You must visit the province to research the business environment. This should be of 5 full business days. Also, after your research, business meetings, contacting people you must submit a report with your application. You can do this by submitting the following:
- Flight tickets and boarding passes.
- Receipts of stay in New Brunswick.
- Minutes of meetings with the itinerary.
- Business cards or contact info from business dealings.
- Email communication with a business in the province.
What are the terms under the New Brunswick Entrepreneurial Stream that you must meet?
- Firstly, be between the age group of 22 and 55.
- Secondly, you must have at least 2 years after high school post-secondary education.
- Also, you must have a minimum CLB Level 5 in English/French.
- You need to show an intent to live and do business in the province.
- An NB govt official must approve your business proposal. And you must submit this business plan to prove that your business will profit the province.
- You should have at least a net worth of $600,000 CAD (minimum $300,000 excluding debts or liabilities).
- You must have a minimum of 3 years out of 5 years of experience in business management. Also, you must either own at least 33.5% of business equity or have 5 years or more experience in a senior business management role. And as a senior, you must have a minimum of 2 employees under you.
- Besides, you must show intent to live and work in NB permanently.
- Further, you need to submit a business concept that will benefit New Brunswick.
- Finally, you must score a minimum of 65 points out of 100 in the NBPNP selection system.
What are the selection factors that help you in applying for NB permanent residence visa?
|22 – 24 years||05|
|35 – 50 years||10|
|51 – 55 years||05|
As per this selection factor, you can get a maximum of 35 points. So to do so you must give your test results for English and/or French. Besides, you can give test results for both English and French from:
- International English Language Testing System (IELTS) test
- Canadian English Language Proficiency Index Program (CELPIP) test
- Test de Connaissance du Français (TCF)
- Test d’évaluation de Français (TEF)
|First Official Language||Points (max 25 for Ist and 2nd official language)|
|CLB Level 7 or more||5||5||5||5|
|CLB Level 6||4||4||4||4|
|CLB Level 5||3||3||3||3|
|Second Official Language||Points|
|CLB Level 5 or more||5|
|Post-graduate studies||Master’s degree from a college/university.
PhD degree from college/university
|Post-secondary studies||A full-time Bachelor’s degree (min. 3 years) from college/university.
|Secondary studies||A full-time diploma in a specific trade (min. 2 years)||15|
Note: You must submit an Educational Credential Assessment (ECA) report with proof of your education level. An ECA verifies if your educational level is equal to the Canadian education system or not.
Business Ownership and/or Experience as a Senior Business Manager
NBPNP assess your profile for work experience as a business owner or senior manager. Thus, they will also verify the type of management experience you have.
|Experience as a Business Owner||Years||Points (max 20)|
|As a business owner, you must have 33.3% of business equity within 3 of 5 years before profile submission. You must be an active decision-maker and should be active in the day to day operations of the business.||10 years (within 10 years)||20|
|6 – 9 years (within 10 years)||18|
|3 years (within 5 years)||15|
|Experience as a Senior Manager||Years||Points (max 12)|
|As a senior manager:
You must supervise at least 2 employees under you.
Also, you must be responsible/part of hiring, firing, promotion, leave confirmation and other such activities.
Further, you must be active in the day to day operations of the business.
|10 years (within 10 years)||12|
|6 – 9 years (within 10 years)||10|
|3 years (within 5 years)||05|
In the New Brunswick Entrepreneurial Stream, every applicant has to submit a business concept with their profile. This business concept will cover all the details about how your business will function in New Brunswick.
In your business concept, you have to show Strength, Weakness, opportunity, and Threat (SWOT) analysis. And you must show proof of research – market, economy, target audience, culture, promotion, and other factors. Also, you must limit your business concept to 1,000 to 1,500 words and should attach it with your EOI. However, your business concept approval is subject to its profitability to the province. NB will prefer a business concept that strong, sound, and beneficial to the province and its market needs.
|Business Concept||Points (max 15)|
|You will create or do work, as a business owner or senior manager. Your work must be in the previous field of your business work experience.||3|
|You are buying or creating a business in NB’s key industry sector.||3|
|If your business is outside of Fredericton, Saint John, and Moncton.||3|
|If your expenses are $500,000 CAD or more.||4|
|Expenses are within $351,000 CAD to $499,000.||3|
|Expenses are within $250,000 CAD to $350,000 CAD.||2|
|You can score a point if you qualify for any of the two terms:
Your NB business has a set target market.
You are familiar with Canada’s law and order system.
You have relevant business resources.
|The business will contribute and promote, research, development and technology sector.||2|
|The business will share its expertise and skills with the New Brunswick people.|
|Your business will get new business opportunities to the province.|
|Your business will promote New Brunswick on a global platform.|
|For Spouse/Common-law partner||Points (max 5)|
|You/your partner must complete a 1-year full-time study program from NB and have a valid work permit. And, should complete at least 6 months of regular, full-time, paid work experience in the province.||5
|You/your partner must meet the min. CLB 5 Level IN English or French to prove language skills.||5|
What are the terms your business must meet to make you qualify in NBPNP Entrepreneur Stream?
You and your business must meet the following criteria:
- Your business should come under sole proprietorship or corporation.
- You should be an active part of business operations, management, and direction.
- You should be running a new business, or you can run an old business that you buy.
- The aim of your business should be to earn profits through the sale of goods and/or services.
- Your business should come as ‘permanent establishment’ for Income tax regulations 1985 under subsection 400(02).
- The business must be beneficial to the province.
- Also, your business should pay all taxes (whatever applicable).
- Further, the business should follow all Canadian legal rules and regulations for working in the province.
- Besides, the business should have valid licenses/permits.
- Your business must create a min 2 fulltime jobs for Canadian citizens or permanent residents. This offer must be for someone apart from your family member. And should meet the min. NB wage level or more.
- Your business should get you enough revenue/profits to make you financially stable in the province. For this, you will have to submit verifiable financial reports of your business.
What does NBPNP consider as valid business investment/ownership?
If you apply in the NBPNP Entrepreneurial Stream you and your business must meet its terms. As a business owner, you must invest a min of $250,000 CAD.
This investment must come from your net worth and will include:
- 25% of investment in business building/land/lease. This must be at the actual cost/price but must account for 25% of the total business investment.
- Daily use equipment for employees to do their work.
- Equipment for production/manufacturing of goods.
- 50% max of business investment or actual cost whichever is lower for buying inventory.
- Your goodwill and/or copyrights, patents, trademarks must be 10% max of the business investment.
- You can hire services for marketing, promotion, etc for setting up your business. But it must not exceed 5% or $10,000 CAD, of business investment.
- You can have a vehicle for your business activities. This amount can not exceed 5% or $15,000 CAD of your business investment. And you will have to prove that vehicle use is for business purpose. This you can do by keeping a log which is useful for income tax purposes as well.
How can you buy a business in New Brunswick?
If you want to buy an existing business in the province then you must prove:
- The owner of the business from whom you are buying is a permanent resident or a Canadian citizen.
- The owner of the existing business must operate and own the business for at least 3 years.
- You must buy the business at a fair market price.
- The business you are buying must show profits of 2 years out of 3 years.
- You must ensure that the existing staff will remain in employment.
- You must show financial strength to buy an existing business.
- After buying you must take an active role of running the business.
Note: NBPNP can organise a site visit to check if you are running the business as per the terms. They will see if you meet the terms of your Performance Agreement.
What is the application process for getting a Canada PR visa in NBPNP Entrepreneur Stream?
To receive a Canada PR you need to follow the following steps:
In this step, you must have a job offer. Also, this job offer has to be for a permanent, paid, full-time job from an NB employer.
Before you apply to any of the Canada Immigration Streams you must meet all terms and factors. Also, you must submit a complete application with all supporting documents.
Apply online and NB PNP will rank your profile.
After that, you will get an Invitation to Apply (ITA). Further, you must submit a complete application within 45 days.
After receiving the application, NB PNP will review the application. Thus, you must give verifiable and correct info.
NBPNP will then issue a nomination certificate. This will help you to apply for permanent residence to IRCC.
Besides, NBPNP can issue a work permit support letter. If yours is expiring or you do not have it. Because, with this work permit support letter, you can apply to get a work permit without a positive LMIA.
After receiving a nomination certificate you must apply to IRCC for a permanent residence visa. IRCC will check your application and will accordingly issue a PR visa. Further, after getting a Canada PR visa, you must report to NBPNP within 30 days of landing in Canada.