Those who want to buy an established business or start a new business in New Brunswick can immigrate through the provincial program’s stream for entrepreneurs.
The Entrepreneurial Stream of the New Brunswick Provincial Nominee Program (NBPNP) has been created for entrepreneurs who want to do business in this province. The main requirement is having business management experience, capital for investment, and a sound business plan.
To be able to immigrate through the Entrepreneurial Stream, the applicant must meet the following requirements:
- Be between 22 and 55 years old
- Have completed at least a two-year academic program in a post-secondary institution and provide credentials
- Have a Canadian Language Benchmark (CLB) score of 5 or higher for English or French in all four language abilities (reading, speaking, listening, writing)
- Have stated an interest in working and living permanently in New Brunswick
- Have work experience of at least 3 years in the last 5 years as a business owner (33.33% ownership) supervising at least 2 employees or of at least 3 years in the last 5 years as a senior manager
- Provide a business plan showing economic benefits for the province
- Have at least C$600,000 of net worth, of which at least C$300,000 must be debt-free
- Be ready to invest at least C$250,000 (before taxes) in New Brunswick business
- Make a refundable deposit of C$100,000 before the decision on the application
The business should bring economic benefits to the province, and its main goal should be making a profit by selling goods and services. The candidate must own at least 33.33% of the business. In addition, the entrepreneur needs to create or maintain at least 2 jobs for permanent residents or citizens of Canada (excluding the applicant himself and his family members).
The following types of businesses are not eligible: businesses related to the sale, production, and distribution of pornographic products, coin-operated businesses, online business, brokerage services, bed and breakfasts, real estate investment, businesses selling prohibited substances, and different types of passive investments.
The minimum C$250,000 investment may include:
- Purchasing land and building for business (up to 25% of investment)
- Costs of transporting devices, equipment, and goods necessary for the business
- Purchasing equipment
- Professional services, including marketing and promotions
- Purchasing initial inventory
- Costs related to intellectual property
Find out about other NBPNP streams in the article “Immigration to New Brunswick“.