Investment in New Brunswick Canadapass

1. Investing in the province of New Brunswick through the Entrepreneurship Program

The first way to invest in New Brunswick is through the province’s entrepreneurship program. This program was updated on January 13, 2021 by the Federal Immigration Service of Canada.IRCC done, to the New Brunswick Business Immigration Program (New Brunswick Business Immigration Stream) renamed.

However, its main nature has not changed much and its main focus is still on attracting experienced entrepreneurs and investors who intend to take active management of a business by starting and establishing their own business in order to grow and strengthen the economy of this province.

Conditions for investing in the province of New Brunswick through entrepreneurship

Applicants who intend to through New Brunswick Provincial Entrepreneurship Program To apply for a Canadian work permit, they must meet the following conditions:

• You must be between 22 and 55 years old.
• Be able to speak and communicate in French or English to actively manage a business in New Brunswick (Language certificate at least CLB 5).
• Have at least 2 years of associate or bachelor’s degree or vocational training after high school.
• Intend to live and work in the province of New Brunswick (the applicant must be actively involved in the day-to-day management of the business).
• Have at least 3 years in the last 5 years of provable management experience related to the business you intend to do in New Brunswick and acquire at least 33.3% of its share.
• Demonstrate that you have an adequate knowledge and understanding of the conditions and work environment in New Brunswick.
• Your business plan must contribute to the economic growth of New Brunswick and must be reviewed and approved by a provincial government official.
• The value of your provable personal assets must be at least 600,000 Canadian dollars, of which 300,000 dollars must be net worth and not related to any loans or other financial obligations.
• You must prove that you can settle your family and meet all their needs for at least 2 years without the help of a specific person or institution.
• You must be able to invest at least CAD 250,000 to start a new business or purchase an existing business in New Brunswick.
• You must be able to get at least 65 points out of 100 possible points in the scoring system of this immigration program.

What does the cost of investing in New Brunswick include?

As mentioned, applicants must At least $250,000 Invest in New Brunswick to start a new business or buy an existing business. This $250,000 can be allocated to the following:

• Finally, as much as 25% of the announced investment can be allocated to the costs related to the establishment of the business, its purchase and renovation, or the transfer of ownership. If these costs exceed $62,500, the applicant must invest a larger amount.
• Equipment that employees use on a daily basis.
• Business-related equipment and devices that are used to produce the company’s main products.
• Necessities required to carry out the work of the trade union, which should constitute a maximum of 50% of the total initial capital.
• Intangible assets such as licenses and goodwill, which should constitute a maximum of 10% of the total initial capital.
• Cars and other means of transportation, along with their tax and maintenance costs, which should be a maximum of 5% of the total initial capital or 150,000 Canadian dollars.

Business requirements for investing in New Brunswick

In addition to the applicant, the business in question must also have certain conditions to be suitable for action through the entrepreneurship program. These conditions include the following:

• Established as a private limited company, partnership or sole proprietorship (if established as a partnership, other partners must be Canadian permanent residents or citizens).
• Starting a new business or continuing the activity of a company that has already been established and is now developing.
• It must be of significant economic benefit to New Brunswick.
• It must be a private income-generating entity whose main purpose is to earn money through the sale of goods or services.
• According to Section 2 of Article 400 of the Canadian Income Tax Act, which was adopted in 1985, a permanent establishment must be considered.

Scoring system for the expression of interest form in the entrepreneurship program in the province of New Brunswick

Applicants for entrepreneurship in the province of New Brunswick can enter the scoring system of the entrepreneurship program of this province by having the basic conditions. In this system, people’s conditions will be scored based on several criteria, which include age, language skills, education, history of ownership or senior management of a business, business plan and compatibility.

If the documents provided regarding any of these criteria are incomplete or wrong or cannot be proven, the applicant will lose all the points for that criterion. Therefore, it is necessary to be careful in completing and correcting your documents and information.

The applicant’s age will be calculated from the day he submits his application for permanent residence at the NBPNP office and is assigned an application number.

tip: People who are less than 22 or more than 55 years old will lose the points of this factor.

The applicant’s first language certificate must be at least equivalent to CLB 5, which is awarded a maximum of 20 points. Applicants can earn up to 5 more points by knowing a second language and having CLB 5 or higher in it.

tip: People who have a language qualification lower than CLB 5 will lose the score of this factor.

Applicants can get a maximum of 25 points from this factor. How to calculate it is as follows:

tip: It should not have been more than 5 years since the last degree was obtained, and the degrees obtained outside of Canada must also be equivalent.

• Adaptability

In this invoice, points are given to a series of conditions of the applicant’s spouse, which can include a maximum of 5 points for the main applicant.

• Experience of ownership or senior management of a business

In this factor, a maximum of 20 points are considered for the applicants, which are awarded to them based on the number of years they have experience in senior management or ownership of a business. You only need to pay attention to two basic points:

1. To own a business, you must own at least one-third or more than 51% of a business. Also, you must have a workforce of at least 2 people and be involved in the day-to-day business affairs and major decisions.
2. For business management, you must have managed at least 2 people and have a direct impact on the company’s decisions and daily activities.

How to rate your management or ownership history is as follows:

To business plan, a maximum of 15 points is considered. The business plan must be submitted with the EOI (Expression of Interest Form) and in it, you must demonstrate that your business will be of economic benefit to New Brunswick. Also, in the business plan, you should show that you intend to generate income by providing a specific service or product.

By presenting a business plan, you show that you have done extensive research about the business you want in New Brunswick, you have a good knowledge of it, and you have considered cultural and economic factors along with the market situation of this province.

The topics that you should consider in the business plan are the type of business and its introduction, the target market, the economic impact of its goods or services in New Brunswick, the relationship between the culture of this province and the proposed business, the possibility of business development and how to do it in the future. Profit and financial goals and all other things that show the dimensions of the business from all aspects. It is scored as follows:

• Business trip to New Brunswick

As the first step towards candidacy for the New Brunswick Provincial Entrepreneurship Program, you must have made at least one business trip to the province of New Brunswick before applying for this immigration program and submitting an Expression of Interest. The purpose of this business trip is to learn about the environment and working conditions in this province.

The duration of this trip should be at least 5 working days. Travel time to New Brunswick, interview days and public holidays are not counted among these 5 days. During this business trip, you will need to do extensive research and meet and talk to a lot of people to get a thorough understanding of the working conditions in New Brunswick. Some of these people or institutions can include the following:

• Business owners in New Brunswick
• Economic development officials of different regions of the province
• Chamber of Commerce officials
• Officials of industrial associations
• Commercial or residential real estate agents
• Brokers
• Accountants able to provide advice on New Brunswick business organizations, assessments, accounting and tax matters.
• Legal advisors who can help you with legal transfers, purchase agreements, etc.
• Ethnic and cultural associations based in New Brunswick

After the business trip, applicants must attend an interview with an NBPNP (New Brunswick Provincial Immigration Office) official. Applicants must travel for an interview with a New Brunswick immigration official within one year of the interview date being set.