The new investment immigration policy for New Brunswick, introduced in August 2017, has raised the threshold, clarified residency and investment requirements, and made approval and supervision more quantitative and stringent. The table below provides a simple comparison between the new and old policies:
|
Criteria |
Old Policy (as of 2013) |
New Policy (Opened Aug 2017) |
|
Age |
22-24: 5 points 24-55: 10 points |
22-34: 5 points 35-50: 10 points 51-55: 5 points |
|
Language |
Requirements are vague, no testing requirements |
Requires listening, speaking, reading, and writing to reach 5 points (IELTS or Canadian language proficiency testing agency) |
|
Education |
High School: 10 points University: 15 points Graduate: 18 points |
High School: 15 points University: 20 points Graduate: 25 points |
|
Asset Requirements |
Family net assets of 300,000 CAD, no specific requirements for liquid assets |
Family net assets of 600,000 CAD, including 300,000 CAD in liquid assets Introduces a third-party assessment mechanism |
|
Management Experience |
Only requires 3 years of management experience within the last 5 years; business owners and senior executives are scored the same |
Business owners are scored higher than senior executives; policy favors business owners |
|
Business Plan |
Can purchase an existing business Can purchase part of or franchise an existing business Can establish a new business |
Requirements are more detailed, with bonus points for industry continuity, regionality of the business, and higher investment amounts. Different scores are given based on the level of understanding of the target market, laws, and resources. It also explicitly clarifies some investments that do not meet the requirements. |
|
Spouse |
Bonus points for those with NB work experience, no language requirements |
Bonus points for both NB work experience and language proficiency |
|
Investment Deposit |
75,000 CAD |
100,000 CAD |
|
Investment Requirements |
1) Investment of 125,000 2) No specific requirements for investment projects 3) No specific requirements for investment breakdown 4) Refundable after one year of operation, no requirement for continued operation 5) No requirement for number of employees |
1) Investment of 250,000, higher investment is encouraged 2) Investment project requirements are clearer, and there are explicit explanations for businesses that do not meet investment requirements 3) Explicit explanations for investment breakdown, such as specific investment ratio requirements or restrictions on property, vehicles, initial inventory, goodwill, professional consultants, etc. 4) Deposit is refunded after one year of investment, but must continue to operate for 2 years 5) Must create two local jobs |
|
Business Assessment and Supervision |
Government generally conducts one site visit |
The government will conduct a total of 4 site visits: at the beginning of business operation, after one year, upon application for deposit refund, and after the deposit is refunded. |
|
Tracking |
No explicit tracking requirements |
Check-in within 1 month, meeting within 2 months, meeting at 6 months, and requirements to establish a business within 2 years |
It is not difficult to see from the table above that the new policy has higher and more specific requirements for investors, and the increased difficulty is obvious. However, this program also has its advantages. Compared with other provinces, the overall asset and investment requirements are relatively low, and it grants permanent resident status (PR) upon landing, rather than a work permit. Therefore, it should still attract some attention.
As for investment, compared to more developed provinces and cities, New Brunswick has more opportunities in a sense, with many blank markets waiting to be developed. Among the new immigrants I have encountered, many have been able to combine their industry experience from China, work hard, successfully start businesses, and continuously open up their own markets. In fact, there are also many investment opportunities in existing businesses. By becoming familiar with the culture and understanding the industry market and rules, one can find a business that suits them and operate it successfully through hard work.
It is always a good thing for people to come. Over the past few years, as the Chinese community has continued to grow, the biggest realization is that life has become more colorful and convenient. As a team, we learned about the basic requirements from relevant channels two months before the official release of the new policy. Judging from the orientation and relevant conditions of the new policy, it is targeted. From the perspective of the immigration subject, there are both praise and criticism, which is understandable. However, from the perspective of the New Brunswick provincial government, it is a summary and correction of past experience, which is beneficial for regulating the investment behavior of immigrants, strengthening management, and truly increasing the economic contribution of immigrants to the province.
We hope that the new policy will bring more new immigrants to truly take root in the fertile soil of New Brunswick, strengthen our Chinese community, and build a new home.