How to apply for New Brunswick Business Immigration Stream : Embarking on a new journey to Canada as an entrepreneur has never been more promising, thanks to the New Brunswick Business Immigration Stream. This exceptional pathway, offered by the New Brunswick Provincial Nominee Program (NBPNP), provides a remarkable opportunity for experienced business visionaries to establish, manage, and flourish within the province while contributing to its economic growth. In partnership with Angad Immigration, let’s delve into the comprehensive steps to navigate the New Brunswick Business Immigration Stream successfully.
Before you set your sights on this exciting opportunity, it’s essential to understand the eligibility criteria:
- Age, Language, Education, and Net Worth: Ensure you meet the age, language proficiency, educational qualifications, and personal net worth prerequisites.
- Business Ownership and Experience: Demonstrate your experience as an entrepreneur through business ownership and senior management roles.
- Minimum Points: Achieve a minimum score of 65 points based on selection factors to be considered for nomination.
Your business venture forms the core of your application. Here’s what you need to know:
- Economic Benefit: Your business should contribute to the economic growth of New Brunswick, fostering innovation, development, and value-added manufacturing.
- Structure and Type: Establish your business as a sole proprietorship, partnership, or corporation. Partnerships require the other partner(s) to be Permanent Residents or Canadian Citizens.
- Nature of Business: Your business must be a private-sector, for-profit entity dedicated to generating profits through goods and services.
- Permanent Establishment: Ensure your business aligns with the definition of a “permanent establishment” according to Canadian Income Tax Regulations.
Economic Benefit and Investment
Highlight the potential economic benefit of your business, emphasizing:
- Development of new products, services, technologies, or approaches.
- Value-added manufacturing for exports and innovations.
- Technology transfer and specialized knowledge.
- Addressing specific needs within communities or regions.
Investment is crucial:
- Invest a minimum of CAD $150,000 (excluding personal items) to demonstrate commitment.
- Maintain at least 33.3% equity in the business.
- Eligible investments include business premises, equipment, machinery, and initial inventory.
Job Creation and Active Management
Creating employment opportunities is paramount:
- Generate at least one full-time job for a Canadian permanent resident or citizen in New Brunswick.
- Your family members cannot be included in the job count.
Actively manage your business:
- Influence its direction and take on risk.
- Provide continuous and hands-on management from within New Brunswick.
- Be present at the business premises daily.
The path to success involves several stages:
- Stage 1: Application and ITA: Submit an Expression of Interest (EOI) to the NB Business Immigration Stream if you meet the eligibility criteria. If selected, you’ll receive an Invitation to Apply (ITA) to submit a full application.
- Stage 2: Work Permit: Upon successful application, obtain a work permit from Immigration, Refugees and Citizenship Canada (IRCC). This two-year permit allows you to start your business in New Brunswick.
- Stage 3: Establishing Your Business: With a valid work permit, you can now initiate your business based on your approved business plan, investment, and location.
- Stage 4: Permanent Residency: After successfully establishing your business, you can apply for a PR visa through IRCC. Nomination by the Government of New Brunswick enhances your chances, but final decisions lie with IRCC.
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We hope this article about “New Brunswick Business Immigration Stream” was helpful to you. If you have any queries/questions related to the Canadian immigration programs, please schedule an appointment with us. You’ll get the finest support and guidance from our best lawyers in Angad Immigration, who will ensure your profile is validated as per the suitable immigration programs.