1. Investing in the province of New Brunswick through the Erepreneurship Program
The first way to invest in New Brunswick is through the province’s erepreneurship 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 erepreneurs and investors who iend to take active manageme 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 erepreneurship
Applicas who iend to through New Brunswick Provincial Erepreneurship 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.
- Iend to live and work in the province of New Brunswick (the applica must be actively involved in the day-to-day manageme of the business).
- Have at least 3 years in the last 5 years of provable manageme experience related to the business you iend 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 environme in New Brunswick.
- Your business plan must coribute to the economic growth of New Brunswick and must be reviewed and approved by a provincial governme 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 pois out of 100 possible pois in the scoring system of this immigration program.
What does the cost of investing in New Brunswick include?
As meioned, applicas 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 investme can be allocated to the costs related to the establishme of the business, its purchase and renovation, or the transfer of ownership. If these costs exceed $62,500, the applica must invest a larger amou.
- Equipme that employees use on a daily basis.
- Business-related equipme 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.
- Iangible 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 maienance costs, which should be a maximum of 5% of the total initial capital or 150,000 Canadian dollars.
Business requiremes for investing in New Brunswick
In addition to the applica, the business in question must also have certain conditions to be suitable for action through the erepreneurship 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 permane resides or citizens).
- Starting a new business or coinuing the activity of a company that has already been established and is now developing.
- It must be of significa economic benefit to New Brunswick.
- It must be a private income-generating eity 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 permane establishme must be considered.
Scoring system for the expression of ierest form in the erepreneurship program in the province of New Brunswick
Applicas for erepreneurship in the province of New Brunswick can eer the scoring system of the erepreneurship 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 manageme of a business, business plan and compatibility.
If the documes provided regarding any of these criteria are incomplete or wrong or cannot be proven, the applica will lose all the pois for that criterion. Therefore, it is necessary to be careful in completing and correcting your documes and information.
The applica’s age will be calculated from the day he submits his application for permane residence at the NBPNP office and is assigned an application number.
| Age | Score |
| 22 to 34 years | 5 pois |
| 35 to 50 years | 10 pois |
| 51 to 55 years | 5 pois |
tip: People who are less than 22 or more than 55 years old will lose the pois of this factor.
The applica’s first language certificate must be at least equivale to CLB 5, which is awarded a maximum of 20 pois. Applicas can earn up to 5 more pois by knowing a second language and having CLB 5 or higher in it.
| First foreign language | Listening | Speaking | Writing | Reading |
| CLB 7 or higher | 5 pois | 5 pois | 5 pois | 5 pois |
| CLB 6 | 4 pois | 4 pois | 4 pois | 4 pois |
| CLB 5 | 3 pois | 3 pois | 3 pois | 3 pois |
tip: People who have a language qualification lower than CLB 5 will lose the score of this factor.
Applicas can get a maximum of 25 pois from this factor. How to calculate it is as follows:
| degree of education | Description | Score |
| Doctorate or master’s degree | A master’s or doctorate degree obtained from a recognized educational institution or university approved by the Canadian Immigration Service. | 25 pois |
| Bachelor’s degree | A bachelor’s degree or its equivale that was obtained in one of the accredited educational institutions and lasted more than 3 years full-time. | 20 pois |
| Fellowship or iernship | Documes that have been obtained from accredited educational institutions and have lasted more than 2 years full-time. | 15 pois |
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 equivale.
- Adaptability
In this invoice, pois are given to a series of conditions of the applica’s spouse, which can include a maximum of 5 pois for the main applica.
| Adaptability factor | Score |
| The applica’s spouse must have completed an educational course of at least 1 year in one of New Brunswick’s accredited educational institutions after high school and at the age of 17. | 5 pois |
| The applica’s spouse has worked full-time in New Brunswick for at least 6 mohs. | 5 pois |
| The applica’s spouse must have an English language degree with a CLB score of 5 or higher in English or an NCLC score of 5 or higher in French. | 5 pois |
- Experience of ownership or senior manageme of a business
In this factor, a maximum of 20 pois are considered for the applicas, which are awarded to them based on the number of years they have experience in senior manageme or ownership of a business. You only need to pay atteion to two basic pois:
- 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.
- For business manageme, 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 manageme or ownership history is as follows:
| Business ownership | |
| Record amou | Score |
| 10 years in the last 10 years | 20 pois |
| 6 to 9 years in the last 10 years | 18 pois |
| 3 years in the last 5 years | 15 pois |
| Business manageme | |
| Business ownership | Score |
| 10 years in the last 10 years | 12 pois |
| 6 to 9 years in the last 10 years | 10 pois |
| 3 years in the last 5 years | 5 pois |
To business plan, a maximum of 15 pois is considered. The business plan must be submitted with the EOI (Expression of Ierest 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 iend to generate income by providing a specific service or product.
By preseing a business plan, you show that you have done extensive research about the business you wa 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 iroduction, 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 developme 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:
| Ages | Score |
| Attracting new business activities to the province | 2 pois |
| Knowledge of the target market | 2 pois |
| Ability to recognize business resources | 2 pois |
| Connecting the province to global markets | 2 pois |
| Leading business to technical developme and commercialization | 2 pois |
| Transferring new knowledge and technology to the province | 2 pois |
| Having sufficie knowledge of the rules and regulations of starting a business in the province | 2 pois |
| The location of the business should be in less populated areas and not in the cities of Moncton, Sai John and Fredericton. | 3 pois |
| Demonstrating that the applica iends to bring their experience in the last 10 years in a similar business to New Brunswick | 3 pois |
| Buying or starting a business in one of the main industries of the province | 3 pois |
| Investme in the amou of 250 to 350 thousand Canadian dollars | 2 pois |
| Investme in the amou of 351 to 500 thousand Canadian dollars | 3 pois |
| Investme in the amou of more than 500 thousand Canadian dollars | 4 pois |
- Business trip to New Brunswick
As the first step towards candidacy for the New Brunswick Provincial Erepreneurship 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 Ierest. The purpose of this business trip is to learn about the environme and working conditions in this province.
The duration of this trip should be at least 5 working days. Travel time to New Brunswick, ierview days and public holidays are not coued 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 developme officials of differe regions of the province
- Chamber of Commerce officials
- Officials of industrial associations
- Commercial or resideial real estate ages
- Brokers
- Accouas able to provide advice on New Brunswick business organizations, assessmes, accouing and tax matters.
- Legal advisors who can help you with legal transfers, purchase agreemes, etc.
- Ethnic and cultural associations based in New Brunswick
After the business trip, applicas must attend an ierview with an NBPNP (New Brunswick Provincial Immigration Office) official. Applicas must travel for an ierview with a New Brunswick immigration official within one year of the ierview date being set.
