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What is New Brunswick Entrepreneurial Stream ?
The New Brunswick Provincial Nominee Program Entrepreneurial Stream is aimed at professionals ready to invest in a business in the province and move there with their families.
The primary requirements are:
- Have an eligible connection to New Brunswick.
- Be aged between 22 and 55.
- Minimum two years post-secondary education degree or diploma.
- Score at least level 5 on the Canadian Language Benchmark exam for speaking, listening, reading and writing in English or French.
- Have completed at least two years full time post-secondary education.
- Legally-acquired personal net worth of at least $600,000, of which $300,000 must be available in unencumbered liquidity.
- Invest at least $250,000 in a New Brunswick business, taking ownership of at least 33 percent.
- Sign a Business Performance Agreement with the New Brunswick provincial government and pay a deposit of $100,000.
- Business must create significant economic benefits to New Brunswick.
- Show business experience – either three years of ownership or five years of senior management experience in the last five years.
- Submit a business concept of 1,000 to 1,500 words.
- Conduct an exploratory visit to New Brunswick, or participate in an information session offered by the New Brunswick provincial government.
- Intend to live permanently in New Brunswick.
- Candidates must score at least 65 points on the assessment grid to be eligible to submit an Expression of Interest the New Brunswick Entrepreneurial stream.
New Brunswick Entrepreneurial Stream : Selection Factors
|Business Ownership / Management||20|
|21 or younger||0|
|CLB 7 or higher||5||5||5||5|
|CLB 5 or higher||5|
|Level of Education||Points|
|Post-graduate Master’s degree or PhD||25|
|Post-secondary academic degree||20|
|Post-secondary diploma in a specific trade||15|
|Work Experience||Years of Experience||Points|
|Business owner or at least one third of a business, actively managed operations, responsible for supervising at least three people||10 in the last 10 years||20|
|6-9 in the last 10 years||18|
|3 in the last 5 years||15|
|Senior manager involved in daily operations as primary decision maker responsible for supervising at least two people||10 in the last 10 years||12|
|6-9 in the last 10 years||10|
|5 in the last 5 years||5|
|Business plan elements||Points|
|Candidate will transfer 10 years of business ownership or senior management experience to the same industry and sector in New Brunswick||3|
|Candidate will establish or purchase a business in a key industry sector||3|
|Business is located outside of Fredericton, Saint John and Moncton.||3|
|Eligible expenses are greater than $500,000 CAD, or||4|
|Eligible expenses are between $351,000 CAD and $499,000 CAD, or||3|
|Eligible expenses are between $250,000 CAD and $350,000 CAD||2|
1) Identified target market(s) for the New Brunswick based business
2) Knowledge of statutes, regulations and bylaws
3) Identified relevant business resources. *
1) Increase research, development and technological commercialization
2) Transfer specialized knowledge and expertise to New Brunswick.
3) Attract new business activities to New Brunswick.
4) Link New Brunswick to global markets and value-chains. *
|*Applicants must meet at least two conditions to claim total points|
|Adaptability for your spouse or common-law partner||Points|
|Completed a program of full-time study of at least one year at a recognized post-secondary institution in New Brunswick after the age of 17 years and with a valid study permit||5|
|Completed at least six months of continuous full-time employment in New Brunswick||5|
|Meets the minimum level CLB 5 in English or NCLC 5 in French in all four language abilities (i.e., reading, writing, listening, speaking).||5|
STEPS FOR New Brunswick Entrepreneurial Stream
- Submit Expression of Interest (EOI)
- Selected candidates receive an Invitation to Apply.
- Candidates who receive an ITA must use a designated accounting services provider to complete a net worth verification report.
- New Brunswick officials assess your application, including the quality and feasibility of the business plan.
- Approved candidates receive a letter with instructions for submitting a signed and dated Business Performance Agreement
- Successful candidates received a nomination from New Brunswick, for use in applying to Immigration Refugees and Citizenship Canada for permanent residence.
- Within two years candidates must have established their business in line with the Business Performance Agreement.
- Within three years of the candidate’s landing date, or one year of the business commencement date (whichever is first), candidate can apply for a refund of the $100,000 deposit, provided the terms fo the Business Performance Agreement are met.
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