Exploring the New Brunswick Business Immigration Program: A Path to Permanent Residency through Investment

Oct 7, 2024

Canada’s Atlantic provinces have become increasingly attractive destinations for entrepreneurs seeking to establish and grow businesses. Among them, New Brunswick offers a business immigration pathway designed to attract experienced businesspersons and investors who are ready to settle in the province and contribute to its economic growth. The New Brunswick Provincial Nominee Program ("NBPNP"), specifically its Business Immigration Stream, provides an excellent opportunity for entrepreneurs to obtain permanent residency (PR) in Canada.


In this article, we will explore the key aspects of the New Brunswick Business Immigration Stream, focusing on eligibility requirements, the application process, and the benefits of pursuing this program.


Introduction to the New Brunswick Business Immigration Stream


The New Brunswick Business Immigration Stream is an economic immigration pathway tailored for experienced entrepreneurs who are committed to settling permanently in the province while establishing and actively managing a business. Unlike immigration streams aimed at family reunification or humanitarian reasons, this program is specifically focused on candidates with the potential to make a meaningful economic impact through business operations.


The stream allows entrepreneurs to initially obtain a work permit, during which they must establish and operate a business in the province. Once the business is operational and meets the specified conditions, candidates can apply for provincial nomination, which leads to permanent residency.


Eligibility Requirements


Candidates must meet several eligibility criteria to qualify for the New Brunswick Business Immigration Stream:


  • Business Experience: Candidates must have significant experience in business ownership or senior management. Specifically, they should have owned at least 51% of a business for at least two out of the last five years, or they should have held a senior management position for a minimum of five years. This experience must involve direct supervision of employees and involvement in day-to-day business operations.


  • Personal Net Worth: Candidates must demonstrate a verifiable personal net worth of at least CAD 500,000 (For farming applicants, the minimum net worth requirement is CAD 300,000). This includes both liquid and non-liquid assets such as real estate, investments, and business assets. All assets must be legally obtained, and applicants must undergo a third-party verification to confirm their net worth.


  • Investment Requirement: Entrepreneurs are required to invest a minimum of CAD 150,000 in an eligible business in New Brunswick. The investment must be in a for-profit, private-sector business that creates economic benefit for the province.


  • Purchasing an Established Business: If applicants are considering purchasing an existing business, several conditions must be met to ensure eligibility:


    • The business must have been in continuous operation for at least three years by the same owner, who must be a Canadian citizen or permanent resident.

    • The business must be purchased at a proven fair market value and have shown a net profit for at least two of the previous three years, backed by audited financial statements and CRA corporate tax assessments.

    • It should retain its existing staff on similar terms, and the business must not have been in receivership or bankruptcy during the previous three years.

    • Additionally, the goodwill value of the business should not exceed 10% of the net book value.


  • Language Proficiency: A minimum score of Canadian Language Benchmark (CLB) 4 in English or French is required across all language abilities: reading, writing, listening, and speaking. This ensures that entrepreneurs can effectively communicate and operate their businesses in New Brunswick.


  • Age: Candidates must be between 19 and 59 years of age at the time of application.


  • Educational Background: At a minimum, applicants must have a Canadian high school diploma or an equivalent foreign credential. If the credential is obtained outside Canada, an Educational Credential Assessment (ECA) is required to verify its equivalency.


Selection Factors


Applicants must score at least 65 out of 100 points based on several selection factors:


  • Age: Candidates between 19 and 49 years of age receive the maximum points (10 points), while those between 50 and 59 receive five points.


  • Language Proficiency: Up to 25 points are awarded based on language proficiency in English or French, with additional points for proficiency in both languages.


  • Education: Up to 20 points can be awarded for education, with higher scores for post-secondary or graduate degrees.


  • Business Experience: Business owners with more than 10 years of experience can earn up to 15 points, while those with senior management experience can earn up to nine points.


  • Business Concept: The strength and feasibility of the business concept can earn up to 25 points. Factors such as location, investment size, and potential economic benefit are taken into consideration.


  • Adaptability: Candidates can earn up to five additional points if their spouse has language proficiency or has worked or studied in New Brunswick.


Key Stages of the New Brunswick Business Immigration Stream


The process consists of four main stages, each with specific requirements and steps that candidates must follow:


1. Expression of Interest and Invitation to Apply


The journey begins with submitting an Expression of Interest (EOI) to the New Brunswick Provincial Nominee Program. An EOI is not a formal application but rather a way for potential candidates to express their interest in the program. EOIs are assessed based on various selection factors, and candidates who meet the criteria may receive an Invitation to Apply (ITA) for the program.


2. Application for a Work Permit Letter of Support


Once an ITA is received, candidates can submit a formal application to the NBPNP for a letter of support for a work permit. This stage involves a comprehensive review of the business concept, net worth, and other factors. If approved, candidates receive a letter of support, which allows them to apply to the federal government for a work permit valid for two years.


3. Business Establishment


After obtaining a work permit, the entrepreneur can begin establishing their business in New Brunswick based on the approved business plan. The business must be operational for at least six months before the candidate can apply for nomination. The entrepreneur must also fulfill the terms of a Business Performance Agreement (BPA) that outlines the commitments related to business operation and investment.


4. Application for Permanent Residency


Once the business has been successfully operated for at least six months, candidates can apply for nomination from the province. After receiving a provincial nomination, candidates may apply for permanent residency through Immigration, Refugees and Citizenship Canada (IRCC). While nomination from the province is a significant step, the federal government makes the final decision regarding permanent residency.


Ensuring Success in Your Application


To ensure success in your application under the New Brunswick Business Immigration Stream, there are several key steps to follow:


1. Create a Solid Business Plan


A well-researched and detailed business plan is essential. It must outline your business concept, market research, and financial projections, as well as how your business will benefit New Brunswick’s economy. Be sure to conduct an exploratory visit to the province and meet with local business leaders and economic development officers to bolster your plan.


2. Prepare for Financial Verification


Make sure your personal net worth is fully documented and easily verifiable. The province requires third-party verification by a professional accounting service, so ensure your finances are transparent and in order before applying.


3. Commit to the Community


New Brunswick is looking for entrepreneurs who will not only invest in a business but also commit to living and participating in the local community. You must reside in the province at least 75% of the time during the business establishment period and within 100 kilometers of your business.


Benefits of the New Brunswick Business Immigration Stream


There are several advantages to applying through the New Brunswick Business Immigration Stream:

  • Pathway to Permanent Residency: Successful candidates and their families can obtain permanent residency in Canada, allowing them to live and work anywhere in the country.

  • Support for Business Establishment: The program is designed to support entrepreneurs by providing a clear framework for establishing a business in New Brunswick.

  • Access to New Markets: As a gateway to the Atlantic provinces, New Brunswick offers access to Canadian and international markets.


Conclusion: A Path to Prosperity in New Brunswick


The New Brunswick Business Immigration Stream offers a structured path to permanent residency for entrepreneurs willing to invest and settle in the province. By meeting the program’s requirements, demonstrating a strong business concept, and committing to local economic growth, applicants can achieve both business success and permanent residency in Canada.


With New Brunswick’s growing economy and the supportive framework of the NBBIS, this immigration stream is an ideal opportunity for those looking to build a future in Canada. If you meet the criteria and are prepared to invest, New Brunswick could be your gateway to Canadian permanent residency and a thriving business environment.


At Blacksy, we specialize in guiding entrepreneurs through the immigration process and ensuring they meet all the requirements for a successful application. If you’re ready to take the next step, contact us today to schedule a consultation. Our experienced team is here to help you navigate the New Brunswick Business Immigration Stream with ease and confidence.


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About the Author


I’m Ahmet Faruk Ocak, a Canadian immigration lawyer and the founder of Blacksy Immigration Law Firm 🌊. 


At Blacksy, we specialize in providing honest, straightforward, and tailored immigration solutions to individuals and businesses worldwide. Our brand promise is simple: no unnecessary fuss, no false hopes, and no empty promises—just realistic, reliable guidance to help you achieve your immigration goals.


Whether you’re expanding your business to Canada, transferring top talent, or planning your future here, we’re here to guide you with precision, transparency, and care.


Visit us at www.blacksyimmigration.com to learn more or to start your journey.