Under Canada’s Provincial Nominee Program (PNP), the New Brunswick Business Immigration Stream (NBBIS) is a specific route designed to draw seasoned business owners and entrepreneurs to develop, run, or invest in a business in New Brunswick. This program is intended for people with a strong financial background, a great deal of business expertise, and a sincere desire to relocate to New Brunswick. Those who are successful can help the province’s economy grow while earning access to permanent residency in Canada.

Introduction

Experienced business owners who are keen to start or invest in a business in New Brunswick are the target market for the New Brunswick Business Immigration Stream (NBBIS). The program is designed for people who have a strong history in business, a high net worth, and a firm plan to live in the province. In addition to submitting a thorough business plan, applicants must undergo an exploratory tour to evaluate potential opportunities firsthand. Successful candidates can acquire a road to permanent residency in Canada and make a substantial contribution to the economic landscape of New Brunswick by fulfilling the requirements. The program highlights the applicant’s business expertise as well as their dedication to the province’s economic development.

Eligibility Criteria for the New Brunswick Business Immigration Stream

The eligibility criteria for the NBBIS are designed to ensure that only candidates with the potential to make significant economic contributions are considered. The key criteria include:

1. Age Requirements

• Applicants must be between the ages of 22 and 55 at the time of application. This requirement ensures that candidates are within a productive working age range, capable of actively contributing to the local economy.

2. Language Proficiency

• Proficiency in either English or French is mandatory, with a minimum Canadian Language Benchmark (CLB) level of 5 in all four competencies: listening, speaking, reading, and writing. The approved language tests include IELTS or CELPIP for English and TEF for French. It is crucial that applicants submit valid language test results to demonstrate their language abilities.

3. Educational Qualifications

• A minimum of a two-year post-secondary educational credential is required, which must be from an accredited institution. For foreign education, an Educational Credential Assessment (ECA) from a recognized agency such as WES is necessary to confirm the equivalency of the qualification to Canadian standards.

4. Business Experience

• Applicants must possess at least three years of full-time business ownership experience within the last five years, or five years of senior management experience within the last five years. It is essential that this experience involves active and direct management of the business, as passive ownership does not meet the requirements.

5. Net Worth and Investment

• A personal net worth of at least CAD 500,000 is required, which must be legally obtained and verifiable. In addition, a minimum investment of CAD 150,000 into a New Brunswick-based business is necessary, along with ownership of at least one-third (33.33%) of the business. Applicants are also expected to conduct an exploratory visit to New Brunswick before applying to familiarize themselves with the local business environment.

6. Business Plan

• A comprehensive business plan is a cornerstone of the application. The plan must detail the proposed business venture, including market analysis, operational strategies, financial projections, and how the business will benefit the New Brunswick economy.

7. Commitment to New Brunswick

• Applicants must demonstrate a genuine intention to reside in New Brunswick permanently, which includes actively managing the day-to-day operations of their business.

Key Eligibility Requirements

1. Purchasing an Established New Brunswick Business To be eligible, the business you intend to purchase must have been continuously operated by the same owner for at least three years before the purchase date. The current owner should be a Canadian permanent resident or citizen. Additionally, the business must be purchased at a proven fair market value and have shown a net profit in at least two of the last three years, as verified by audited financial statements and corporate tax assessments from the Canada Revenue Agency. The purchase must ensure continued employment for existing staff under similar conditions, and the business must not have been in receivership or filed for bankruptcy in the three years leading up to the purchase. Importantly, goodwill should not exceed 10% of the net book value when purchasing a profitable business.

2. Job Creation in New Brunswick The business must create at least one full-time job for a permanent resident or citizen of Canada living in New Brunswick. This job must be separate from you, your spouse or common-law partner, and your dependent children or other family members. A full-time job requires a minimum of 30 hours of work per week.

3. Operating the Business in New Brunswick As the business owner, you must ensure that the business pays income tax on taxable income earned in New Brunswick, regardless of any additional taxes payable in other jurisdictions. Compliance with provincial legislation, including the Employment Standards Act, Human Rights Act, and Occupational Health and Safety Act, is mandatory. Furthermore, the business must adhere to all Canadian laws and obtain the necessary licenses and permits from applicable municipal, provincial, and federal authorities.

4. Active Management Role The New Brunswick Business Immigration Stream requires you to actively manage the business as outlined in the Immigration and Refugee Protection Regulations (IRPR), section 87(6)(c). This means you must assume risk, influence the business’s direction, provide ongoing management from within New Brunswick, and be present at the business premises on a day-to-day basis.

5. Net Worth Verification Report Upon receiving an Invitation to Apply (ITA), you must engage a GNB-designated professional accounting service provider to complete a Net Worth Verification Report. This report will review your personal net worth, the legal accumulation of your funds, and highlight any concerns that may require further investigation. The service provider sends the report directly to both GNB and you. Although the report is crucial, GNB retains the sole discretion to assess your application and may request additional information or documentation.

6. Presence in New Brunswick During the Business Establishment Period (BEP), you are required to reside in New Brunswick for at least 75% of the time and within 100 kilometers of your business. If you are involved in farming, you must reside on or within 10 kilometers of your farm operation.

This comprehensive set of requirements ensures that applicants not only invest in the local economy but also actively contribute to the community, fostering long-term economic growth in New Brunswick.

Application Process for the New Brunswick Business Immigration Stream

Once eligibility is established, applicants must carefully follow the application process, which includes several critical steps:

1. Initial Preparation

• Candidates should begin with a self-assessment to ensure they meet all the eligibility requirements. An exploratory visit to New Brunswick is also a necessary step before application submission.

2. Expression of Interest (EOI)

• The first official step in the application process is the submission of an Expression of Interest (EOI). The EOI must include preliminary details about the applicant’s qualifications and proposed business plan. EOIs are evaluated on a points-based system, and only the most competitive candidates will be invited to apply.

3. Invitation to Apply (ITA)

• Candidates who rank highly on the EOI points system will receive an Invitation to Apply (ITA). The ITA will include a request for a comprehensive set of documents, including proof of net worth, business experience, educational qualifications, language proficiency, and a detailed business plan.

4. Application Review and Interview

• Upon submission, the application will be thoroughly reviewed by New Brunswick immigration officials. In some cases, applicants may be required to attend an interview to further assess their qualifications and the viability of their business plan.

5. Approval and Work Permit

• Successful applicants will receive a letter of approval, which allows them to apply for a work permit from Immigration, Refugees, and Citizenship Canada (IRCC). The work permit enables the applicant to move to New Brunswick to establish and operate their business.

6. Nomination for Permanent Residency

• Once the business is operational and all conditions are met, New Brunswick will nominate the applicant for permanent residency under the Provincial Nominee Program (PNP). The nomination significantly enhances the likelihood of being granted permanent residency by IRCC.

7. Post-Nomination Requirements

• Even after receiving permanent residency, the applicant may be required to submit regular reports to New Brunswick to confirm ongoing compliance with the business operation conditions outlined in the application.

Conclusion

To sum up, the New Brunswick Business Immigration Stream (NBBIS) provides a calculated route for seasoned business owners to get permanent residence in Canada while fostering the expansion of the province’s economy. 

Strict eligibility requirements for the program, such as a comprehensive business plan, a sizable investment, and an exploratory visit, guarantee that only eligible applicants are chosen. Selected candidates make a significant contribution to the growth of New Brunswick’s business environment in addition to investing in their own future. This stream is an opportunity that will benefit the province and prospective corporate leaders alike.