British Columbia for Entrepreneur

British Columbia for Entrepreneur

The British Columbia Provincial Nomination Program (PNP) offers Entrepreneur Immigration (EI) for experienced businessmen who are motivated to invest and manage their businesses in British Columbia. If the application is approved for a provincial nomination, then the entrepreneur and his/her dependent family members are eligible to apply at Immigration, Refugee, and Citizenship Canada (IRCC) to become Canadian Permanent Residents.

Below are the Immigration streams for Entrepreneurs.

 

• Entrepreneur Immigration – Base Category
• Entrepreneur Immigration – Regional Pilot
• Strategic Projects

 

Entrepreneur Immigration attracts businessmen or people with managerial experience to invest in British Columbia. The nomination of the candidate is assessed based on the scoring system, provided they are meeting the eligibility criteria.

Eligibility
• Experience (In the last ten years)

Minimum three years of work experience as the Owner/Manager, or minimum four years of work experience as a Senior Manager, or one year of experience as the Owner/Manager and minimum of two years of experience as a Senior Manager.

• Net Worth

At least $600,000. Net Worth also includes the worth of the spouse or common-law partner and dependent children. Personal net worth should be acquired legally and should be verifiable. This is a popular way of getting Canadian citizenship by way of investment.

• Business Proposal

Entrepreneur must submit a proposal to start a new business or buy an existing business in British Columbia.

• Ownership

Entrepreneur must have at least one-third of ownership in the business.

• Investment

Entrepreneur must invest at least $200,000.

• Job Creation

The business must produce at least one full-time job for a Canadian citizen or a permanent resident of Canada.

• Language Requirement

Minimum score of CLB 4 or equivalent in French or English. The CLB test the four types of competencies: listening, speaking, reading, and writing.

• Fees

For registration $300 and application $3500

• Ineligible Business

Entrepreneurs should make sure that they are investing in the eligible business. Registration will be disqualified if the proposed business falls on the list of ineligible businesses. Some of the ineligible businesses are tanning salons, pawnbrokers, DVD rental stores, coin-operated laundries, automated car wash operations, etc.

Procedure
1. Online Registration

The First thing that entrepreneurs should do is to register online at https://www.pnpapplication.gov.bc.ca/user/sign-in . The score of the applicant is calculated based on the information they provide. They also have to pay a non-refundable fee of $300. Invitation to apply under Entrepreneur Immigration – Base Category is determined by the score they get.

2. Invitation to Apply

Every month British Columbia invites applicants from the pool of qualified applicants to apply. Applicants are given four months to submit their complete application. During this time they can finalize the business plan and need to verify their net worth from BC-PNP authorized accounting firm.

3. Net-Worth Review

Applicants need to submit a personal net-worth verification report from an authorized accounting firm. An authorized accounting firm is a professional firm involved in providing chartered accounting services and approved by BC PNP. The applicant will bear all the costs.

4. Submitting an Application

An applicant is given 120 days to submit the application after receiving the invitation. An applicant may be required to appear for an interview. Approved applicant is required to sign a performance agreement with British Columbia. Approved applicant must implement their business plan in 20 months or 610 days.

5. Starting a Business

Approved applicant must apply at Immigration, Refugees and Citizenship Canada (IRCC) for a two-year work permit after receiving the letter of support from British Columbia. The applicant and his/her dependent must arrive in B.C. with a valid work permit within 365 days of receiving a ‘letter of confirmation’. An Entrepreneur gets 20 months to set up its business, and after the completion of the period, they must submit their final report to BC PNP.

6. Permanent Residency

For getting permanent residency, an entrepreneur must meet the terms of the performance agreement. Those who satisfy the terms of the performance agreement are nominated for Canadian permanent residence (PR) by British Columbia. Dependent are also eligible for the nomination.

Entrepreneur regional pilot is an initiative to attract experienced businessmen to start a new business in smaller communities of British Columbia. An entrepreneur must propose to start a new business in a participating community in British Columbia. The proposed business should align with the economic development priorities identified by the community.

Eligibility
• Experience (In the last five years)

minimum three years of work experience as the owner-manager, or minimum four years of work experience as a Senior Manager, or one year of experience as the owner-manager and minimum of two years of experience as a Senior Manager.

• Net worth

at least $300,000. Net worth also includes the worth of the spouse or common-law partner and dependent children. Personal net worth should be acquired legally and should be verifiable. High net-worth individuals can migrate to British Columbia and can get Canadian permanent residence through this channel.

• Business Proposal

Entrepreneur must submit a proposal to start a new business. A proposal to acquire an existing business is not eligible under regional pilot stream. A proposal to start a new business must be referred by an enrolled community.

• Ownership

Entrepreneur must have at least fifty-one percent (51%) of ownership in the business.

• Investment

Entrepreneur must invest at least $100,000.

• Job Creation

The business must produce at least one full-time job for a Canadian citizen or a permanent resident of Canada.

• Language Requirement

Minimum score of CLB 4 or equivalent in French or English. The CLB test the four types of competencies: listening, speaking, reading, and writing. An entrepreneur must submit a copy of language proficiency test at the time of registration.

Fees

For registration $300 and application $3500

Participating Community Specific Requirement

• The entrepreneur must visit the enrolled community for support before registering.

• A community having a population of more than 75,000 cannot be selected. Higher points will be awarded to the proposed business in a community with a smaller population.

• A community should be located beyond 30 km of a municipality of more than 75000 people.

The British Columbia Provincial Nomination Program (BCPNP) Entrepreneur Immigration – Strategic Project stream is for foreign companies who want to make a strategic investment in British Columbia. Foreign companies can expand their existing business and set up operations in British Columbia. This enables foreign companies to send their competent senior staff to British Columbia permanently. The foreign company can apply for provincial nomination to support the permanent residence (PR) of up to five senior employees.

Eligibility for the Foreign Companies

• Should be willing to invest a minimum equity investment of $500,000 towards operations in British Columbia.

• at least $300,000. Net worth also includes the worth of the spouse or common-law partner and dependent

• A foreign company can establish new or purchase and expand an eligible business in British Columbia

• A foreign company must create at least three new jobs for Canadian citizens or permanent residents (PR) for every foreign key staff member proposed. A foreign company can propose a maximum of five key staff members.

Eligibility of Key Staff Member

• Must be a senior employee of the foreign company having qualifications and experience to set up and run operations in British Columbia.

• Must be appointed as an executive or at a senior managerial post or has specialized knowledge required to run the B.C. operations

• Should be paid wages in accordance with the industry and corporate compensation structure.

Procedure
1. Exploratory Visit –

Senior executive should visit the B.C and assess the opportunities and business environment.

2. Business Proposal –

Foreign companies must contact BC PNP to discuss their business expansion plan before registering.

3. Registration –

Foreign companies must register and apply. They will be asked to provide details of the company, proposed investment in the B.C, and details of key staff members including their qualifications. The registration processing fee is $300.

4. Invitation to Apply –

The details provided by the company will be verified to determine if the foreign company is eligible to apply. If the company gets an invitation to apply, the company must complete and submit its application within 90 days.

5. Application to BC PNP –

Foreign Company must submit all required documents. They may be required to submit additional documents. The application processing fee is $3500 for the foreign company and an additional $1000 for each proposed key staff member. Each key staff member may be invited for an in-person interview at BC PNP office in Vancouver.

6. Performance Agreement –

If the application gets approval, the competent signing authority of the foreign company along with the key staff members must sign the performance agreement with the province of B.C.

7. Work Permit –

B.C. will issue a support letter for the work permit to each key staff member. Each key staff member needs to apply at immigration, Refugees, and Citizenship Canada (IRCC) with the support letter for a work permit. With a support letter, each key staff member can apply for a two-year work permit at IRCC. After arriving in B.C with a valid work permit, each key staff member must submit an arrival report to BC PNP within 60 days.

8. Nomination –

If the foreign company meets the terms and conditions of the performance agreement, then each key staff member who has met his/her terms and conditions of the performance agreement will be nominated for permanent residence.

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