The entrepreneurial stream of the New Brunswick Provincial Nominee Program welcomes business owners and managers between the ages of 22-55 who either own or manage a business and want to do so in New Brunswick to apply for permanent residence in Canada. The candidate must have a net worth of CAD $600,000 with CAD $300,000 in liquid form for investment.
The New Brunswick Entrepreneur Program is also open for senior business managers who have five years of experience in managing a business while business owners require at least three years of experience in owning and managing a business. The candidates must want to live and invest in New Brunswick. They must also have at least two years of post-secondary education and must meet a minimum requirement of 5 on the Canadian Language Benchmark Test.
Opposed to the provincial skilled program, education, and similar factors are not as important as the person's ability to show financial stability and the willingness to substantially contribute to New Brunswick's economy.
Those who qualify, must submit an Expression of Interest, and if chosen, their business can be on its way to Canada!
18 to 24 months
· Business owners with at least 3 years of experience in owning + managing a business
· Senior business managers with five years of experience in a senior business manager role
· All candidates must have a net worth of CAD $600,000 and be willing to invest at least CAD $250,000 (other eligibility factors apply)
In order to apply for the New Brunswick Entrepreneur Program, the eligible candidate must first submit an Expression of Interest (EOI) through email. The New Brunswick Provincial Nominee Program will then select candidates with the highest scores- a combination of net worth, age, education, and work experience with other factors- and also assess the candidate on business concept.
Those that are selected will receive an Invitation to Apply. The candidate must then submit a full application with proof of funds, etc. The candidate will have to hire an accounting firm for this purpose. An initial deposit of CAD $100,000 along with a Business Performance Agreement is essential in order to get nominated. The completed application must then be submitted to the Immigrant Refugees Citizenship Canada (IRCC) for evaluation and a decision.
Those that are approved get permanent residency and are on their way to New Brunswick Canada. After one year of operation, the business owner can apply to get a refund on the deposit made during the application process.