YBNP : New Brunswick Entrepreneur Immigration Program
What is New Brunswick Business Immigration Stream?
The New Brunswick Business Immigration Stream is an immigration pathway under the New Brunswick Provincial Nominee Program (NBPNP) that allows experienced entrepreneurs and business owners to settle and establish or purchase a business in New Brunswick, Canada. This stream is designed to attract individuals who have the intention and ability to contribute to the province’s economy and create employment opportunities for its residents.
- The New Brunswick Business Immigration Stream consists of two categories:
1. Entrepreneur Pathway:
This category is for individuals who wish to establish a new business or purchase an existing business in New Brunswick. Applicants must have a minimum personal net worth of CAD $600,000, of which CAD $300,000 must be verifiable and unencumbered. They are also required to make a minimum investment of CAD $250,000 in the business and have a minimum of three years of business ownership or senior management experience.
Business Applicants with Job Offer:
This category is for individuals who have received a full-time, permanent job offer from a New Brunswick employer to fill a key leadership position in an eligible business. The job offer must be approved by the NBPNP, and applicants must have the necessary qualifications and experience for the position.
NBPNP Business Immigration Stream process steps
Submit an Expression of Interest to the NBPNP, indicating your interest in the Business Immigration Stream. Your EOI will be assessed based on various factors, such as age, language proficiency, education, business experience, and investment amount.
If your EOI is selected, you will receive an Invitation to Apply for provincial nomination. This invitation is based on a points-based system, and the highest-scoring candidates are invited to apply.
Once you receive an ITA, you must submit a complete application to the NBPNP. This includes providing all the required documents, such as personal identification, financial statements, business plan, and supporting evidence of business experience and investment funds.
The NBPNP will assess your application based on the eligibility criteria and program requirements. This may involve reviewing your business plan, conducting interviews, and verifying your documents.
If your application is approved, you will be required to sign a Business Performance Agreement with the NBPNP. This agreement outlines the terms and conditions of your investment and business operation in New Brunswick.
Once you fulfill the requirements of the Business Performance Agreement, the NBPNP will issue a nomination to you. This nomination allows you to apply for permanent residency to the federal government.
With the nomination, you can submit an application for permanent residency to the federal government through the appropriate immigration program, such as the Federal Skilled Worker Program or the Canadian Experience Class.
Undergo medical examinations and provide any required security clearances as part of the federal immigration process.
If your permanent residency application is approved, you will receive your permanent resident visa, allowing you to live and work in New Brunswick or any other province in Canada.