Business Applicants

NB Business Applicants Stream

New Brunswick accepts applications under this category from individuals who plan to own and actively manage a business that will contribute to New Brunswick’s economy. Applicants are expected to make a monetary investment in the business.

Minimum Requirements – In order to be eligible as a Business Applicant, candidates must:

• Be between 22 and 55 years of age.
• Hold at least a high school diploma.
• Demonstrate sufficient English and, or French language ability to actively manage a business in New Brunswick.
• Demonstrate an intention to live and operate a business in New Brunswick.
  • The applicant must assume a day-to-day management role in the business.
• Show relevant and proven management experience in three of the last five years.
• Provide a business plan, approved by a New Brunswick government official, that will show how the business will benefit New Brunswick.
• Have a personal net worth of at least $300,000 CAD.
• Have sufficient funds to establish the business, settle successfully, and support all dependent family members for up to two years.
• Submit a conditionally refundable deposit of $75,000 CAD and a signed copy of the Deposit Agreement prior to nomination.
• Make at least one business trip to New Brunswick and demonstrate an understanding of the province’s business environment.
• Meet with an NBPNP official for an interview following the business trip.
• Score 50 points on a selection grid.

Selection Factors

If all other eligibility criteria (outlined above) are met and the business plan is approved, applicants will be assessed according to five selection factors. In order to qualify for the Business Applicant Stream, candidates must score a minimum of 50 points.

Factor 1: Age

Factor 2: Language

Factor 3: Education

Factor 4: Business Experience

Applicants are assessed based on the number of years they have owned a business or worked as a senior manager in a business during the last five years as well as based on the type of management experience.

Factor 5: Adaptability

Business Trip

Applicants are required to take a business trip 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, applicants are required to participate in an interview with an NBPNP official to discuss the findings of their trip including topics such as identification of business opportunities, labour requirements, competition, suppliers, market trends, taxes and financials, etc.

The New Brunswick business trip and the interview with an NBPNP official must take place within one year of the date on the candidate’s Notice of Interview.

Interview

After completing the business trip, applicants are required to attend an interview in New Brunswick with an NBPNP official. The purpose of this interview is to evaluate the applicant based on his/her:

• Ability to speak, listen, and understand English or French.
• Previous management experience.
• Understanding of business in New Brunswick.
• Overall suitability to become economically established in New Brunswick.
• Other topics relevant to the immigration application.

Business Plan

Under the Business Applicants stream, all candidates are required to submit a business plan with their application. The business plan is a written document explaining how the business will operate.

Applicants have three options when considering a business in New Brunswick. They may:

1. Purchase an existing business.
2. Enter into a partnership with a New Brunswick entrepreneur.
3. Start a new business.

In order to qualify, the applicant must control a minimum percentage of equity in the business, equal to or greater than 33.33 percent.

Conditionally Refundable Deposit

In order to guarantee the applicant’s intention to operate a business in New Brunswick, a deposit of $75,000 CAD is required. This deposit is refundable provided that:

• The applicant meets the requirements of the Deposit Agreement.
• The applicant and his/her dependent family members have been granted permanent resident status by Immigration, Refugees, and Citizenship Canada (IRCC, formerly CIC).
• The applicant and his/her dependent family members are permanent residents of New Brunswick
• The applicant establishes his/her business within two yeas of landing on Canada.
• The applicant’s business is registered or incorporated.
• The applicant provides proof that a minimum $125,000 CAD business investment has been made.
  • If the applicant can provide proof that a minimum $65,000 CAD business investment has been made, and all other requirements are met, a maximum of $30,000 CAD may be refunded to him/her.
• The applicant has assumed a day-to-day managerial role in the business.
• The applicant’s business has been operating for one year.
• If applicable, a partnership agreement has been finalized and signed by all parties involved.

If the applicant is unable to establish a business within two years of landing in Canada, he or she may make a written request to NBPNP for an extension. There is no guarantee, however, that the extension will be granted. In the event that the applicant fails to establish and operate an approved business within the first two years of landing in Canada, and no extension is requested or granted, the province of New Brunswick will retain the full deposit.

If the applicant is not granted a Permanent Resident Visa, the deposit will be refunded in full.

Business Investment

Applicants must be prepared to make a minimum business investment of $125,000 CAD in New Brunswick. Qualifying investments include:

• Purchase of land and/or building for business purposes.
• Moving costs for devices, equipment, and goods required for business operation.
• Purchase of manufacturing equipment.
• Purchase of office equipment, computers, and similar equipment.
• Expenses for marketing and promotions.
• Expenses for professional services in connection with establishing the business.
• Purchase of initial inventory.
• Intellectual property;etc.

Who is Not Eligible to Apply?

Candidates should not apply if they:

• Have an application in process under another immigration program in Canada.
• Are not lawfully residing in their country of residence at the time an application is received at the NBPNP Office (proof of lawful residence is required).
• Have an unresolved humanitarian and compassionate claim in Canada.
• Are failed humanitarian and compassionate claimants living in Canada.
• Have an unresolved refugee claim in Canada.
• Are failed refugee claimants living in Canada.
• Are under a removal order in Canada.
• Are prohibited from entering Canada.
• Are engaged in full-time post-secondary education.
• Are live-in caregivers.
• Are seasonal workers.