The Canadian province of New Brunswick has undergone a comprehensive reform of its Entrepreneurial Immigration Program. The newly introduced policy features fundamental changes in eligibility requirements, scoring criteria, selection methods, approval procedures, and post-landing monitoring. Below is a detailed explanation of the new policy and its changes:
First, regarding the changes in applicant eligibility requirements:
1. Age: 22-55
2. Language: CLB 5 (previously assessed via interview)
3. Education: Two-year post-secondary diploma or higher (previously high school or higher)
4. Net Worth: CAD 600,000 or more, including at least CAD 300,000 in liquid assets (previously CAD 350,000 in assets, with no specific liquid asset requirement)
5. Management Experience: At least three years of management experience as a (full) business owner within the last five years, or five years or more as a senior executive
6. Intent to Invest: Willingness to invest and start a business in New Brunswick
7. Investment Amount: CAD 250,000 or more (previously CAD 150,000, with no regional requirements)
8. Investment Deposit: CAD 100,000 (increased from the previous CAD 75,000). The scoring criteria are also completely different; attached is the latest scoring table for the August 2017 New Brunswick Entrepreneurial Program. Interested parties may download it to self-assess.
Changes in selection methods: The 2018 new policy adopts the Expression of Interest (EOI) pool scoring system similar to Manitoba. After applicants enter the EOI pool, the provincial immigration department sends invitations based on scores from highest to lowest. Only invited applicants may submit a formal application. New Brunswick has also uniquely introduced sub-scoring and bonus points for applicants' business plans.
Changes in approval procedures include:
Added a requirement for asset audits by designated accounting firms;
Business exploratory visits are now optional (unless the applicant has no other ties to New Brunswick, in which case it is mandatory) and must be completed before EOI submission;
The interview process may now be conducted via online video, rather than necessarily requiring an on-site interview in New Brunswick;
The types of businesses required by the program have changed significantly, with additional prohibited categories;
Added a requirement for the number of employees: at least two new employees must be hired;
The new policy also adds a significant amount of content regarding post-landing monitoring:
Reporting requirements at 30, 90, and 180 days after landing;
Immigration officers will conduct at least three on-site visits to the applicant's business: upon business establishment, at the end of the first year, after the deposit refund application is submitted, and two years after the deposit is refunded.
Materials that applicants must provide to immigration officers during on-site visits include, but are not limited to: registration certificates, tax documents, bank statements, investment receipts, financial statements, corporate income tax filing receipts, and payroll records.