There are requirements for each stage of the New Brunswick Entrepreneurial Stream process including registration, EOI, application and nomination. You must meet the minimum eligibility requirements for age, language, education, personal net worth, business ownership and/or senior management experience, business concept and score a minimum of 65 points in the selection factors to be considered for nomination by Department of Post-Secondary Education, Training and Labour (PETL).
• Eligibility requirements must be met at the time of the EOI, application and nomination. Meeting eligibility requirements does not guarantee that you will be nominated.
• PETL reserves the right to consider only certain types of new enterprises or the purchase of existing businesses for the purpose of economic development. Decisions are based on the economic situation of the
• New Brunswick labour market, current inventory, yearly nomination allocations distributed by IRCC, and any other factors determined by PETL.
1. Business requirements: Your business must be:
• of economic benefit to the province;
• you must have a minimum of 33.33 percent ownership and assume an active senior management role
• in the day-to-day operation of the business;
• established as a sole proprietorship, partnership or corporation; (in the case of a partnership, the other
• partner(s) must be a Permanent Resident or Canadian Citizen);
• the continued operation of an existing business or the establishment of a new business;
• a private-sector, for-profit entity with the primary purpose of earning profits through the sale of goods
• and/or services;
• considered a “permanent establishment” as defined under subsection 400(2) of the Canadian Income Tax Regulations, 1985
2. Economic benefit:
Priority processing may occur for applications with business plans that have the greatest potential to create significant economic benefit through:
• increased value-added manufacturing or processing for New Brunswick exports;
• enhanced research and development;
• development of new products and/or services;
• development of innovative approaches to traditional businesses;
• development and/or enhancements of new technologies;
• the transfer of technology and specialized knowledge to New Brunswick;
• providing products and/or services to an under-served local or regional market; and
• other, as determined by PETL.
3. Investment: When investing in a business, you must:
• make an eligible business investment of not less than CAD $250,000 before tax., PETL will not
• consider items purchased for personal use including, but not limited to, your principal residence and
• motor vehicles as part of your minimum eligible investment;
• control at least 33.33 per cent equity in the business.
• Please note: total business investment excludes working capital such as rent, wages, leasing costs, cash flow and any other recurring expenses as deemed, by PETL, ineligible for the purposes of this program.
• Eligible investments must be derived from your personal net worth and may include but are not limited to: Business Premises, including:
a) building and/or land to a maximum of 25 per cent of your total business investment or actual cost,
• whichever is lower; and
• property improvements or leasehold improvements that increase the value of the business
• premises to a maximum of 25 per cent of your total business investment or actual cost, whichever is lower.
b) Equipment used by employees to enable them to perform their day-to-day duties may include, for example:
• book cases; chairs; communication devices; computers and laptops; desks; file cabinets; fire extinguishers; first aid kit; hardware including printers, scanners and shredders; light fixtures; office furniture; photocopier recycling bin; safe; stationery; and tools and devices.
c) Equipment necessary for use in primary production and manufacturing of goods including, but not limited to:
• machinery; raw materials, components and supplies; and shipping, installation and testing of equipment
d) Initial inventory to a maximum of 50 per cent of your total business investment or actual cost, whichever is lower. Initial inventory is considered to be inventory purchased up to the opening day of your business.
Intangible investments including:
• goodwill and/or intellectual property may not exceed 10 per cent of the net book value of the business.
f) Professional services from North American companies including marketing, promotions and services in
connection with establishing the business to a maximum of 4 per cent of your total business investment
or CAD $10,000, whichever is lower.
g) Vehicle to a maximum of 5 per cent of your total business investment up to a maximum of CAD
$15,000, whichever is lower. The amount must be amortized to reflect actual business use and a log
similar to that used for income tax purposes is required.
4. Purchasing an established New Brunswick business
If buying an existing business, you must demonstrate to PETL that the business:
A. has been in continuous operation by the same owner for the three years prior to the purchase date; and that the owner is a permanent resident or citizen of Canada;
B. will be purchased at a proven fair market value;
C. has achieved a proven net profit for at least two of the previous three years as demonstrated by
D. audited financial statements;
E. will provide for the continued employment to existing staff on similar terms and conditions; and
F. is not in receivership and/or has not filed for bankruptcy for the three years prior to the date of purchase.
5. Creating jobs in New Brunswick
The business must create at least two full-time jobs for permanent residents or citizens of Canada living in New Brunswick. The two full-time jobs cannot include you, your spouse or common-law partner, your dependent children and/or other family members. Full-time means that an employer is expected to provide a minimum of 30 hours per week of work to each of these employees.
6. Operating the business in New Brunswick
With respect to operating the business, you must:
A. ensure the business pays income tax on taxable income earned in the province, regardless of income or other taxes that may also be payable in other jurisdictions as a result of income earned or other
B. business activity;
C. comply with all legislation in the province including, but not limited to, the Employment Standards Act,
D. Human Rights act and Occupational Health and Safety Act;
E. comply with all Canadian laws in establishing, purchasing and maintaining the business; and
F. obtain necessary licenses/permits from all applicable municipal, provincial and/or federal authorities.
7. Active management role in business
Providing active management to the business is a requirement of the Entrepreneurial Stream as set out in the Immigration and Refugee Protection Regulations (IRPR), section 87(6) (c). You must:
• assume risk and influence the direction of the business;
• provide ongoing and active management to the business from within New Brunswick; and
• be present at the business premises on a day-to-day basis.
Net worth verification report
If you receive an ITA, you must engage a professional accounting service provider, designated by PETL, to complete a Net Worth Verification Report on your behalf. The service provider will review your personal net worth claims and your accumulation of funds through an analysis of financial documents you submit to them. The service provider will produce a report that outlines:
• your total verifiable personal net worth;
• your total verifiable unencumbered funds;
• details regarding the legal accumulation of your funds; and
• whether there are any concerns that require further investigation
The service provider will send a copy of the report directly to PETL and to you. The report will be used in the assessment of your application. Notwithstanding the conclusions of the report, PETL has the sole discretion and responsibility to assess your application and may request additional information, supporting documentation and clarification regarding your personal net worth during the application process.
The amount of time it takes to evaluate your documents and prepare a verification report will vary. Factors such as the volume of financial documents you provide, and the processing capacity of the service provider can affect the timing. Service providers are required to complete a net worth verification report within 90 days after you have received your ITA.
There are three current designated Personal Net Worth Verifiers from which to choose:
Grant Thornton LLP
570 Queen St, 4th Floor, PO Box 1054, Fredericton, NB E3B 5C2
Tel: 506-858-2525, Fax: 506-453-7029
MDD Forensic Accountants
1959 Upper Water Street, Suite, 1301, Halifax, NS B3J 3N2
Tel: 902-406-8886, Fax: 902-422-2388
Roy Tong, Senior Manager,
Provincial Nominee Program Services, Suite 2200, MNP Tower, 1021 West Hastings St. Vancouver, BC V6E 0C3
Do you need further details regarding the above program? Please look for a paid assessment at the office with a qualified consultant.