New Brunswick Provincial Nominee Program’s Entrepreneur Stream is designed to help foreign investors intending to invest in a business in New Brunswick. Such investors will need to prove their interest in running and managing the business in which they would be investing in. They will need to provide the right business plan to get approved. This is one of the streams under New Brunswick Immigration Nominee Program.
Investments across the borders is a challenge and it gets more challenging if its for a business. Canada too, invites number of foreign entrepreneurs to invest and run business in Canada. They have introduced multiple immigration pathways to encourage entrepreneurs to invest in the country. New Brunswick is one of the participating provinces of Canada which invites skilled professionals and entrepreneurs as part of economic migration into the country. Canada PNP nomination program has been in vogue since the mid 90s with an intention to allow the provinces to choose the right personnel suitable for the program.
This works as an Expression of Interest stream. The investor will need to submit their EOI to the New Brunswick department handling the immigrations as the first step in the process. The applicant will be submitting their documents along with their EOI application. Once the application is reviewed and assessed, the applicant will be assigned a score based on the 5 factors. The profiles which gain the highest score will be selected for further processing. The province also participates in the Skilled migration Canada program.
To qualify for the program, the entrepreneur should be between the age group of 22 and 55 years of age. They should have the required education and business experience. They should also have taken up the mandatory language test for English or French or both, in which they should earn a minimum of 5 in each of the bands. The applicant will need to demonstrate his/her intention to live and work in New Brunswick. They need to provide a business plan which proves that the business is scalable. Such business should also be able to generate a minimum of 2 jobs for the locals in New Brunswick. The business should be beneficial for New Brunswick province. Every province has their own Entrepreneur and Skilled migration program defined under each of the Provinces’ nomination program. For example, PEI will have their own immigration pathways under Prince Edward Island Canada PNP.
The investor should prove their personal net-worth of CAD $600,000. They should have atleast a minimum of 3 years of experience during the past 5 years prior to applying for the program. Such an experience should be as a senior manager or more. They should be prepared to invest a minimum of CAD $250,000 in the province.
New Brunswick is also tied up with the Express Entry Visa Canada program. The province chooses their candidates through the Express entry pool too.
The business should bring in significant benefits to the province of New Brunswick. The biggest advantage of this program is that, the investor will get their nomination from the Province on an immediate basis unlike Ontario provincial nomination program where the investor will first get a work permit and then be granted residency permit only after the regulations are met. The investor could be a sole proprietor of the business or could be a partner investor in the business. In either of the case, he must participate in the day to day activities of the business. The investor will need to own a minimum of 33.33% of the business. The investor through the investment must generate a minimum of 2 full-time jobs for the locals in the province.
The investor will need to approach a dependable investment immigration expert who could help them with their decisions. Such an immigration consultant near them, should also be registered with ICCRC, Canada.