The New Brunswick Entrepreneurial stream is a component of the New Brunswick Provincial Nominee Program (NBPNP), which allows the government to propose candidates for Canadian permanent residence based on criteria established by the province.
How does this stream operate?
The New Brunswick Entrepreneurial stream operates as follows.
To start, because the stream operates on an Expression of Interest (EOI) basis, you must first submit an EOI form. The candidacy procedure includes an exploratory visit. Then, in New Brunswick, immigration officials send out invitations to a select group of candidates to apply.
After applying, you will be interviewed by NBPNP officials. If approved, you will be given a nomination certificate and will be able to apply for permanent residency with Immigration, Refugees, and Citizenship Canada (IRCC).
What are the minimum requirements for the Entrepreneurial Stream?
To be eligible, candidates for the New Brunswick Entrepreneurial stream must:
- have a valid connection to the province of New Brunswick;
- must be aged between 22 and 55 years old;
- have a minimum language proficiency of Level 5 on the Canadian Language Benchmark (CLB) in English or French;
- have finished at least two years of full-time post-secondary education after graduating from high school;
- have a demonstrable minimum personal net worth of CAD $600,000, at least CAD $300,000 of which must be liquid and unencumbered funds.
- have at least three years of experience managing and owning a business with at least 33.3 percent equity OR have five years of experience in a senior business management job or higher;
- wish to reside in New Brunswick permanently while owning and operating a local business; and
- must be able to invest a minimum of $250,000 CAD of their own money to start a business in the province of New Brunswick.
What are the selection factors for this stream?
|Factor||Maximum Points||Criteria That Awards The Maximum Points|
|Language Proficiency||25||CLB Level 7 or better for all four language abilities for the First Official Language, and CLB Level 5 or higher in all four language abilities for the Second Official Language.|
|Education||25||A Master’s or Doctorate degree from an eligible college or university’s graduate school.|
|Age||10||Aged 35-50 years old|
|Business ownership/ Senior Management Experience||20||Business owner (at least 33.3%), actively involved in day-to-day operations as the principal decision-maker, responsible for overseeing at least two individuals for ten years out of the past ten years.|
|Business concept||10||A combination of points from 8 business concept elements. Take note that to get total points, you must fulfill at least two of the said prerequisites.|
|Adaptability for a spouse or common-law partner||5|
After the age of 17 and with a valid study permit, you must have completed a full-time study program of at least one year at a recognized post-secondary institution OR a minimum of six months of continuous full-time work in New Brunswick in New Brunswick;
meets the CLB 5 minimum in English or French in all four language skills.
|Minimum Pass Score||100||Candidates must score at least 65.|
Personal Net Worth
Despite the fact that no points are provided for satisfying the standards for personal net worth, you must meet the following two conditions:
1. You possess at least $600,000 CAD in total personal net worth; and
2. You have at least $300,000 CAD of which must be liquid and free of debts or other liabilities.
What is the application process for this stream?
1. Use the Immigration New Brunswick online site to submit an Expression of Interest (EOI).
2. The NBPNP chooses the EOIs with the highest scores as well as business concepts with a clear economic value. Letters of invitation to apply will be sent to these applicants.
3. Candidates must submit a thorough application to the NBPNP along with all relevant documentation.
4. The applicant must pay a CAD $100,000 deposit and a signed Business Performance Agreement To acquire a provincial nomination from the NBPNP.
5. IRCC receives a comprehensive application for permanent residency from the candidate.
6. The candidate arrives in New Brunswick and starts a business, which must be operational for one year before applying for a deposit reimbursement.
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