New Brunswick is one of the three Maritime Provinces (New Brunswick, Nova Scotia & Prince Edward Island) and is well known for peat exportation. In fact, New Brunswick is the second largest exporter of peat in the world. New Brunswick’s 80% of the province is forested. No wonder that New Brunswick harvests over 450,000 Christmas trees every single year. In an effort to improve the economy, New Brunswick aims to bring in more investors through the New Brunswick Entrepreneur Program.
What is A New Brunswick Entrepreneur Program?
New Brunswick Entrepreneur Program is an immigration program which was initiated by making an agreement with the Canadian Government. The New Brunswick Entrepreneur Program allows skilled workers to immigrate to New Brunswick and contribute to the local economy. New Brunswick has its own set of immigration criteria & conditions which the applicants should comply with.
Eligibilities for New Brunswick Entrepreneur Program: –
Individuals who wish to move & settle in Canada through the New Brunswick Entrepreneur Program should meet the following standards:
- Any individual who wishes to immigrate should have a minimum net worth of CAD$ 600,000.
- The individual should be willing to invest somewhere between CAD$ 250,000 in a business which is already active and a refundable deposit of CAD$ 100,000.
- The individual’s age should lie between 21 – 55 years.
- The individual should be able to prove his proficiency in the language of English (IELTS 4 – 6 bands).
- The individual should be willing to go on an exploratory trip to Canada for 5 working days.
- The individual should not have possessed any criminal records before and should be free from serious health issues.
Important Things You Should Know About New Brunswick Entrepreneur Program: –
- The investment would be into a Private Enterprise or Sole Ownership Business or a 33% Ownership in a business.
- Any dependant coming along with the applicant should be aged below 22 years.
- Every Canadian citizen or a PR visa holder will have a minimum of 1 job.
- Permanent residency can be obtained once when the investment is done.
- If an applicant wants to maintain the Permanent Resident status, he/she should stay for 2 years out of 5 years.
- A Canadian passport can be obtained if an applicant stays 3 out of 5 years during his Permanent Resident status.
- A New Brunswick Entrepreneur Program application costs around CAD$ 250,000.
For more information on New Brunswick Entrepreneur Program, get in touch with our experts.