Low Investment of $250,000 required

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

Economic Benefits:

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.

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