New Brunswick Business PNP
New Brunswick is a picturesque province that has been home to many newcomers. The people of New Brunswick have created several unique programs designed. These PNPs help the economy and communities grow while also helping fill gaps in the workforce with qualified people who can contribute meaningfully.
Qualifications for Participation in the New Brunswick Business Stream
Participants must fulfill these criteria to qualify for the New Brunswick Business Stream:
- Be aged 21 to 59.
- Hold at least a two-year post-high school education.
- Achieve a Canadian Language Benchmark (CLB) 5 in English or French.
- Plan to live in New Brunswick and actively manage a business there.
- Take an everyday managerial role within the company.
- Present an officially endorsed business proposal demonstrating benefits for New Brunswick.
- Possess a personal net worth of CAD 600,000, with CAD 300,000 free from liabilities.
- Have a background with at least three years in business management and ownership or five years in a high-level managerial role, supervising at least two staff members.
- Commit to residing permanently in New Brunswick while running and owning a business.
- Offer a business idea that is likely to contribute significantly to the provincial economy.
- Attain a minimum of 65 points on New Brunswick’s exclusive evaluation grid.
Assessment Criteria and Scoring
If all other prerequisites are satisfied and the business plan is validated, applicants are rated on a 100-point scale, with a requirement of at least 65 points for eligibility, based on the following:
- Age, with points allocated according to different age brackets.
- Language proficiency, with points awarded for different levels of English or French competency.
- Education level, with a maximum of 25 points, requiring at least a two-year post-secondary education.
- Personal net worth, with a minimum requirement of CAD 500,000.
- Business and/or management experience, with a maximum of 15 points available based on the duration and nature of experience.
- Business plan, requiring a comprehensive document detailing operational strategies, with a maximum of 25 points for business-related components.
- Adaptability, with a maximum of 5 points for a spouse or common-law partner’s prior study or work in New Brunswick and meeting language benchmarks.
Applicants must also present valid language test results from approved providers and support foreign education credentials with an Educational Credential Assessment (ECA). Points for business ownership or senior management experience are allocated based on years of experience and level of involvement in the operations. The business plan must be thorough, reflecting extensive research and potential provincial economic benefits. Additional adaptability points are available if the spouse or common-law partner has studied, worked, or met language requirements in New Brunswick.
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Criteria for Admission into the New Brunswick Business Stream
For a business to qualify for the New Brunswick Business Stream, it must:
- Yield a substantial economic advantage to New Brunswick.
- Be established as either a sole proprietorship, partnership (with partners being Permanent Residents or Canadian Citizens) or corporation.
- Entail the continued operation of an existing business or the start of a new one.
- Operate as a for-profit entity in the private sector, aimed primarily at generating profits through selling goods and/or services.
- Qualify as a “permanent establishment” under subsection 400(2) of the Canadian Income Tax Regulations, 1985.
Priority Consideration for Economic Impact
The MPNP may prioritize applications whose business plans show the highest likelihood of significant economic contributions by:
- Increasing value-added activities, especially for New Brunswick exports.
- Boosting research and development efforts.
- Innovating new products or services.
- Offering novel approaches to traditional businesses.
- Enhancing or developing new technologies.
- Transferring specialized knowledge or technology to New Brunswick.
- Serving a local or regional market that is currently underserved.
Business Investment Requirements
Applicants should be prepared to invest a minimum of CAD 150,000 in New Brunswick and must:
- Own at least 33.33 percent of the business.
- Play an active senior management role in the business’s daily operations.
Eligible Investment Components
Investments, drawn from the applicant’s personal assets, can include:
- Property for the business, such as buildings or land, capped at 25 percent of the total investment.
- Employee equipment essential for daily operations.
- Equipment for primary production or manufacturing.
- Initial inventory, up to 50 percent of the total investment.
- Intangible assets like goodwill or intellectual property, limited to 10 percent of the business’s net book value.
- Professional services up to CAD 10,000 or 4 percent of the total investment, whichever is lesser.
- A vehicle, capped at CAD 15,000 or 5 percent of the total investment, with usage reflected over time.
Acquiring an Existing Business in New Brunswick
For those purchasing an existing business, it must:
- Have operated continuously by the same owner for the last three years, with the owner being a permanent resident or citizen of Canada.
- Be acquired at a fair market value.
- Have demonstrated net profits for at least two of the past three years.
- Retain existing staff under similar employment terms.
- Not be in receivership or have filed for bankruptcy in the past three years.
Management and Operational Obligations
The applicant must:
- Ensure the business has all necessary licenses and permits.
- Fulfill provincial tax obligations on income earned.
- Abide by all relevant provincial legislation and Canadian laws.
- Maintain operations for at least two years following the deposit refund.
Active management by the applicant involves:
- Taking on business risks and setting the business direction.
- Managing the business from within New Brunswick.
- Being physically present at the business location daily.
Job Creation Expectations
The business should create at least two full-time jobs for permanent residents or Canadian citizens in New Brunswick, excluding the applicant and their immediate family.
Compliance Checks via Site Visits
The NBPNP may conduct two site visits to verify compliance with the Business Performance Agreement. Applicants may need to provide various business-related documents.
Site visits are scheduled for:
- The business’s opening date.
- Twelve months post-opening.
- Upon request for the CAD 100,000 deposit refund.
Exclusions from the Business Stream
Certain types of businesses are not eligible, including but not limited to:
- Adult services or sexually explicit products/services.
- Bed and breakfasts, coin-operated businesses, and consultancies.
- E-commerce, online education, or settlement service facilities.
- Cooperatives and domain name businesses.
- Hobby farms, brokerage, and financial services.
- Home-based businesses or those operated from residential properties.
- Landlord property and small inns or boutique hotels with limited revenue.
- Non-profit entities.
- Real estate investments intended for passive income.
- Practices lacking New Brunswick accreditation.
- Immigration-linked investment schemes.
- Seasonal operations and businesses promoting or selling illegal products.
New Brunswick Business Stream Application Steps
Step 1: Expression of Interest (EOI) Submission
To pursue permanent residency in New Brunswick via the Business Stream, the initial action is to submit an EOI. Prior to this, candidates must establish a connection with the province through one of the following:
- A minimum of five business days spent in New Brunswick within 12 months before the EOI.
- Possession of a diploma or certificate by the applicant or spouse/partner, involving at least two years of full-time post-high school study in New Brunswick.
- At least 12 months of full-time work experience in New Brunswick in a skilled occupation by the applicant or spouse/partner.
- Family ties within New Brunswick or dependent children enrolled in the province’s educational institutions.
Candidates must meet the basic eligibility criteria, achieve a score of 65 or above on the selection factors, and present a business concept that promises economic progress for New Brunswick to enter the candidate pool.
The NBPNP uses a points-based Comprehensive Ranking System to sort candidates, favoring those with higher scores for program invitations.
Step 2: Business Plan Formulation
Applicants are tasked with creating a business plan detailing their objectives and methods. The applicant should be intricately involved in this process, although they may consult external parties for assistance. However, applicants must be thoroughly knowledgeable about their business plan, as ignorance or inability to justify the plan could result in application denial.
Step 3: Receiving an Invitation to Apply
Chosen candidates receive an ITA and have 90 days to submit a full application and accompanying documents to the NBPNP.
Step 4: Detailed Application Process
Applicants are required to fill in all necessary forms and provide a comprehensive business plan. The detailed plan is subject to review by various provincial departments to assess its quality, research depth, feasibility, economic viability, and other NBPNP-determined factors.
A professional net worth verification is also mandatory, with the service provider issuing a Net Worth Verification Report to the NBPNP, detailing the applicant’s net worth, liquid funds, fund accumulation legality, and any financial irregularities warranting further scrutiny.
Step 5: Possible Interview Requirement
Some applicants might be called for an interview with NBPNP Program Officers to confirm the application details and business plan comprehension. Though not always mandatory, a required interview must be attended, either in person or via video conference, and failure to satisfy officers during the interview can lead to application refusal.
Step 6: Nomination and Permanent Residency Application
Nominees receive a certificate valid for nine months. They must then apply for Canadian permanent residence with the IRCC within a six-month window.
Ineligibility for the New Brunswick Business Stream
Candidates are advised against applying if they:
- Have pending applications under other Canadian immigration programs.
- Own businesses or properties in other Canadian regions.
- Are not lawfully residing in their current country when the application is submitted (proof required).
- Have unresolved humanitarian or refugee claims in Canada or have been rejected from such claims.
- Are subject to removal orders or entry bans into Canada.
- Are enrolled in full-time education, are live-in caregivers, or are seasonal workers.