Business immigration candidates looking to invest and move to Canada should consider the revamped Entrepreneurial Stream of the New Brunswick Provincial Nominee Program.
In exchange for investing $250,000 and taking a minimum 33 per cent ownership of a business, candidates with a personal net worth of $600,000 or more can receive a nomination for New Brunswick immigration.
Candidates must also meet several other criteria regarding business experience, age, education and language proficiency.
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The province also asks for a $100,000 deposit at the time of nomination. This money is returned after a year provided the candidate has moved and established themselves in New Brunswick, and is actively involved in the business in which they invested.
The stream is based on a three-stage application process, where candidates submit an expression of interest, before being invited to apply for a nomination certificate, which they then used to apply to the federal government for permanent residence.
“The NBPNP Entrepreneurial Stream is for experienced entrepreneurs who are ready to establish, operate and actively manage a business while living and settling in New Brunswick permanently,” the province’s application guide states.
“This stream is part of an economic immigration program and is not intended for family reunification, protected persons or for humanitarian and compassionate reasons.”
NBPNP Entrepreneurial Stream: Primary Requirements
- Legally-acquired personal net worth of at least $600,000, of which $300,000 must be available in available in unencumbered liquidity.
- Invest at least $250,000 in a New Brunswick business, taking ownership of at least 33 per cent.
- Show business experience – either three years of ownership or five years of senior management experience in the last five years.
- 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.
Three-Stage Application Process
- Submit expression of interest (EOI).
- Apply for nomination certificate.
- Apply to federal government for permanent residence.
Professional Fees: $24,500
- $2,500 due before EOI submitted.
- $17,000 due after EOI has been approved.
- $5,000 due at time of nomination.
Provincial Government Fees: $2,000
- Due when the application for nomination is submitted.
Security Deposit: $100,000
- Required to be deposited with the province at the time of nomination. Funds will be returned after one year provided criteria have been met, including candidate living in New Brunswick and proposed business is up and running.
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