In order to be eligible for the New Brunswick Entrepreneurial Stream, individuals must:
If all other eligibility criteria (outlined above) are met and the business plan is approved, applicants will be assessed and assigned a score out of 100 based on the following selection factors. An individual must score at least 65 points to be considered eligible.
Applicants must meet the minimum level of Canadian Language Benchmark (CLB) 5 in English or French in all four language abilities: reading, writing, listening and speaking.
Applicants must provide valid test results from one of the following designated third-party language test providers:
Applicants may be awarded a maximum of 25 points for education and must have a minimum of two years of post-secondary education after high school.
Foreign educational credentials must be supported by an Educational Credential Assessment (ECA) that dates back no later than five years prior to the date an application registered by the Department.
Applicants must have a verifiable personal net worth of at least $600,000 CAD of which $300,000 CAD must be liquid and unencumbered by debts and/or other obligations.
Even though there are no points awarded for meeting the requirements for personal net worth, applicants must be able to answer “yes” to the following two questions:
Applicants are assessed based on the number of years they have owned a business or worked as a senior manager in a business as well as based on the type of management experience. Applicants may be awarded a maximum of 20 points based on business ownership and/or senior management experience.
Business owners must have had a third of the business equity for three of the five years prior to submitting an application in a business with at least two employees.
To claim points for senior management experience, applicants must demonstrate five years of experience as a senior manager in a private sector, a for-profit business within the past five years. As a senior manager, the applicant must have been:
Under the Entrepreneurial Stream, all candidates are required to submit a business concept with their application. The business concept is a written document explaining how the business will operate.
In developing the business concept, candidates need to show they have conducted extensive research and considered all economic, market and cultural factors.
Candidates may receive a maximum of 15 points for the business elements. The business concept must be 1,000 to 1,500 words in length and must be submitted with the EOI. In the business plan, the candidate must demonstrate that the business poses economic benefits to New Brunswick and operates with the sole purpose of earning profits by providing products and/or services.
* Candidates must meet at least two conditions to claim total points
A candidate may be awarded a maximum of 5 points if his or her spouse/common-law partner has studied or worked in New Brunswick and meets the minimum language requirements.
In order to be considered eligible, the business must be:
The MPNP may grant priority processing to applications with business plans that have the greatest potential to create significant economic benefit through:
Applicants must be prepared to make a minimum business investment of CAD $250,000 in New Brunswick. In addition, the applicant must have 33.33 per cent ownership and assume an active senior management role in the daily operations of the business.
Eligible Investment
An investment must be obtained from an applicant's personal net worth and may include:
If an entrepreneur intends to purchase a pre-existing business, he or she must prove that the business:
When operating the business, the applicant must ensure the business:
The business must create at least two full-time jobs for permanent residents or citizens of Canada living in New Brunswick. The two full-time jobs cannot be for the applicant, his or her spouse/common-law partner dependent children and/or other family members.
The NBPNP may organize two site visits to the business grounds to ensure the applicant is in compliance with the terms and conditions outlined in the Business Performance Agreement. Provincial representatives may require an applicant to provide additional information and/or documents including but not limited to: proof of business registration and incorporation; business permits and licences; bank statements; invoices showing proof of eligible investment; financial statements prepared by a certified or chartered accountant; business income tax assessments; and payroll documents.
The site visit may take place on:
The first step toward permanent residence n New Brunswick under the Entrepreneurial Stream is the submission of an EOI to apply for the program. Before submitting an EOI, individuals must demonstrate at least one of the following connections:
In order to be entered into the pool of potential candidates, individuals must first meet the minimum eligibility requirements, score at least 65 points across all selection factors and present a business concept that outlines the business's significance for economic growth in the province.
The NBPNP ranks candidates in the pool using a point-based system called the Comprehensive Ranking System and candidates with higher scores are more likely to receive an invitation to apply to the Entrepreneurial Stream.
Applicants are required to conduct an exploratory visit to New Brunswick, prior to submitting their application, in order to become better acquainted with the province's business environment. The trip must be a minimum of five full business days, not including travel days, interview days, and statutory holidays.
During the trip, applicants are required to conduct extensive research. It is recommended that candidates set up meetings with various business people and officials in New Brunswick to aid in this research. Following the business trip, applications are required to submit an Exploratory Visit Report with their application. The report must include the following details:
Candidates successfully selected from the pool obtain a written ITA letter to submit a full application to the NBPNP. Invited candidates have 90 days to submit a complete application along with the necessary supporting documents.
Along with signing all the required forms, providing documents in the required format, applicants need to submit a more detailed Business plan with their application. Various New Brunswick government departments may review the detailed business plan submitted with the full application to:
It is important that all applicants undergo a professional net worth verification process. The service provider is required to provide a copy of the Net Worth Verification Report to the NBPNP following an assessment of the applicant's total verifiable net worth, verifiable unencumbered funds, details on the legal accumulation of funds, and any financial concerns that may require further investigation.
During the evaluation of an application, an applicant may be required to participate in an interview with NBPNP Program Officers. While participating in an interview is not a mandatory step in the application process, applicants that are required to participate will have to attend either an in-person or web-based video conference.
The objective of the interview will be to validate the information submitted in the application and confirm understanding and knowledge regarding the business plan and its implementation. Applicants may be refused as a result of NBPNP Program Officer's dissatisfaction with the applicant's performance in an interview.
During an interview, applicants will be evaluated based on their:
If an application is refused, a "letter of refusal" will be issued with no possibility to appeal.
If an application is approved, the NBPNP will send the applicant an instruction letter for submitting a signed and dated Business Performance Agreement, which details the terms and conditions that need to be met before a refund of the CAD $100,000 deposit is issued.
If nominated, the applicant will receive a provincial nomination certificate, which remains valid for six months from the date of issuance. Business applicants are required to submit a complete application for Canadian permanent residence to Immigration, Refugees and Citizenship Canada (IRCC) during the six month time period.
Applicants must meet the following conditions following their landing date in Canada:
Candidates should not apply if they:
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