New Brunswick EntrepreneurKohanbaba
This category of New Brunswick’s Provincial Nominee Program (NBPNP) targets qualified foreign entrepreneurs who are interested in owning and actively managing a business that will contribute to New Brunswick’s economy.
This stream functions as an Expression of Interest (EOI) system. The first step in this process is the submission of an EOI to the New Brunswick Department of Post Secondary Education, Training and Labour.
Once an application is reviewed and assessed based on the eligibility requirements, an applicant is assigned a score based on various factors.
Eligibility Requirements for Applicants
In order to be eligible for the New Brunswick Entrepreneurial Stream, individuals must:
- Be between 22 and 55 years of age;
- Have a minimum of a two-year post-secondary education after high school;
- Have a minimum level of Canadian Language Benchmark (CLB) 5 in English or French;
- Demonstrate an intention to live and operate a business in New Brunswick;
- The applicant must assume a day-to-day management role in the business.
- Provide a business plan, approved by a New Brunswick government official, that will show how the business will benefit New Brunswick;
- Have a personal net worth of at least $600,000 CAD of which $300,000 must be unaffected by debts or other obligations;
- Have at least three out of five years of experience in managing and owning a business (of at least 33.3%) or have five years out of five of experience in a senior business management role or more, and be responsible for supervising at least two employees;
- Want to live permanently in New Brunswick, while owning and managing a local business;
- Present a business concept that demonstrates the potential to provide significant economic benefit to the province; and
- Score at least 65 points on New Brunswick’s unique selection grid.
Eligibility Requirements for the New Brunswick Business
In order to be considered eligible, the business must be:
- of significant economic benefit to New Brunswick;
- established as a sole proprietorship, partnership or corporation; (in the case of a partnership, the other partner(s) must be a Permanent Resident or Canadian Citizen);
- the continued operation of an existing business or the establishment of a new business;
- a private-sector, for-profit entity with the primary purpose of earning profits through the sale of goods and/or services; and
- considered a “permanent establishment” as defined under subsection 400(2) of the Canadian Income Tax Regulations, 1985.
Business Investment and acquisition/ownership
Applicants must be prepared to make a minimum business investment of CAD $250,000 in New Brunswick. In addition, the applicant must have 33.33 percent ownership and assume an active senior management role in the daily operations of the business.
Purchasing an established New Brunswick business
If an entrepreneur intends to purchase a pre-existing business, he or she must prove that the business:
- has been in continuous operation by the same owner for the three years prior to the purchase date; and that the owner is a permanent resident or citizen of Canada;
- will be purchased at a proven fair market value;
- has achieved a proven net profit for at least two of the previous three years as demonstrated by audited financial statements;
- will provide for the continued employment to existing staff on similar terms and conditions; and
- is not in receivership and/or has not filed for bankruptcy for the three years prior to the date of purchase.
Operating the business and providing active management
When operating the business, the applicant must ensure the business:
- has all the necessary licenses and permits from the applicable municipal, provincial and/or federal authorities;
- pays income taxes on taxable income earned in the province, regardless of income or other taxes that may also be payable in other jurisdictions as a result of income earned or other business activities;
- complies with all legislation in the province including, but not limited to, the Employment Standards Act, Human Rights Act and Occupational Health and Safety Act;
- follows all Canadian laws in establishing, purchasing and maintaining the business; and
- be in operation for two years from the date of the refund and release of the deposit of CAD $100,000 to the applicant.
The applicant must assume active management of the business by:
- assuming risks and determining the direction of the business;
- providing ongoing and active management to the business from within New Brunswick; and
- being present at the business premises on a daily basis.
Creating jobs in New Brunswick
The business must create at least two full-time jobs for permanent residents or citizens of Canada living in New Brunswick. The two full-time jobs cannot be for the applicant, his or her spouse/common-law partner dependant children and/or other family members.
Participating in site visits
The NBPNP may organize two site visits to the business grounds to ensure the applicant is in compliance with the terms and conditions outlined in the Business Performance Agreement. Provincial representatives may require an applicant to provide additional information and/or documents including but not limited to: proof of business registration and incorporation; business permits and licences; bank statements; invoices showing proof of eligible investment; financial statements prepared by a certified or chartered accountant; business income tax assessments; and payroll documents.
The site visit may take place on:
- the start of the business commencement date;
- 12 months after the business commencement date;
- the date the department receives your written request for the refund of the deposit of CAD $100,000, without interest.