BC PNP - ENTREPRENEUR IMMIGRATION

BC PNP – ENTREPRENEUR IMMIGRATION

The Entrepreneur Immigration stream of the BC Provincial Nominee Program (BC PNP) is a path to immigrate to Canada and settle in B.C. for experienced entrepreneurs who can support innovation and economic growth in the province.

Individuals who intend to settle and invest in British Columbia may be eligible for Canadian permanent residence under this immigration stream. This program is broken down into two categories:

• Entrepreneur Category: This category is for senior managers or business owners who intend to invest funds into a proposed business in British Columbia.
• Strategic Projects Category: Through this category, foreign-controlled companies can set up an operation in British Columbia. Up to five key foreign managerial, professional or technical staff members can be nominated for permanent residence in the province.

Entrepreneur Category

If you want to immigrate to B.C. and are ready to invest in and actively manage a valid business here, you may qualify for our Entrepreneur Immigration stream. Here is an overview of the requirements.
Personal requirements – To qualify, you must:

• have a personal net worth of at least CAD$600,000
• demonstrate business and/or management experience
• have, or be eligible for, legal immigration status in Canada

You must also have been lawfully admitted in the country where you currently reside.

Please review our Entrepreneur Immigration Program Guide to see the complete personal requirements.
Business, job and investment requirements –To qualify you must:

• establish an eligible new business or purchase and improve an existing business
• make an eligible personal investment of at least CAD$200,000 in the business
• create at least one new full-time job for a Canadian citizen or permanent resident in the business

Please review our Entrepreneur Immigration Program Guide to see the complete business and investment requirements, including business eligibility and job requirements.
Registration and application fees – All applicants must pay the following fees:

• $300 registration fee
• $3,500 application fee
• $1,000 for each key staff application

How does it work? –The first step is to research B.C.’s economy and regions to find a business opportunity. The WorkBC website provides comprehensive information and data about B.C.’s labour market and industries.

Strategic Projects Category

The Strategic Projects category of the BC Provincial Nominee Program (BC PNP) Entrepreneur Immigration stream enables foreign-controlled companies to set up a branch office or other operating facility in B.C.

The company can propose up to five key staff members who intend to settle in B.C. and who will actively manage the operation in B.C.
Please review our Entrepreneur Immigration Program Guide to see the complete requirements.

Is my company eligible? – To qualify, the company must:

• be in excellent financial health; provide evidence of good business practices and successful business operations outside Canada that are relevant to the proposed B.C. business.
• identify investment opportunities in B.C. based on commercial decisions and credible foundations.
• demonstrate that the proposed key employees are qualified senior employees who are essential to establishing and operating the business

Are the key staff members eligible? : The company’s key staff members must have, or be eligible for, immigration status in Canada. We will not accept applications of key staff members who:

• are prohibited from entering Canada
• have not been lawfully admitted in the country of current residence
• are in Canada and are out of status
  • an individual whose status has expired, and they cannot demonstrate they have applied for restoration of status within the 90-day eligibility period, will be considered out of status
• are working in Canada without authorization
• have an unresolved refugee claim in Canada
• are under a removal order in or outside Canada

What are the requirements? – The company will be required to:

• make a minimum equity investment of at least $500,000 to establish or purchase and expand an eligible business in B.C.
• create at least three new jobs for Canadian citizens or permanent residents for each foreign key staff member proposed (toa maximum of five key staff)
• establish or purchase and expand a company in B.C.

What is the application process?
Step 1: Exploratory visit
We encourage senior executives representing the company to visit B.C. to explore and learn more about opportunities and the local business environment.
Step 2: Discuss your proposal
To apply for the Strategic Projects category, the company must first contact BC PNP office to obtain information about the program and discuss the proposal. They must also register the company’s interest to apply. As part of the registration, the company should provide information including:

• company information (e.g. the year established, a description of business activities, sales revenue, number of employees, etc.)
• a description of the business it intends to establish or purchase and expand in B.C.
• how the proposed business is related to the company’s core business
• a due diligence and commercial viabilities study
• a detailed investment rationale and breakdown
• estimated annual revenue
• roles and responsibilities of each key staff member in the parent company and the B.C. business
• types of jobs it will create in B.C.
• other information as required

Step 3: Apply
There is a registration processing fee of $300. If BC PNP determine that the company qualifies, BC will invite the company to submit a full application. The company and its key staff must submit all the required forms and supporting documentation. There is an corporate application processing fee of $3,500, plus a $1,000 application processing fee for each key staff member.
BC PNP will screen the application for completeness. They may ask the company clarifying questions and request additional documentation.
As part of the application assessment process, BC PNP will invite all key staff members to attend an in-person interview at the BC PNP offices in Vancouver.
What happens after approval?
If the application is approved, the company’s designated signing authority signs a Performance Agreement with B.C. BC PNP will issue a work permit support letter to each key staff member so they can apply for a two-year work permit from Immigration, Refugees and Citizenship Canada (IRCC).
When the key staff members arrive in B.C. with a valid work permit, they must submit an arrival report form to the BC PNP.

The company must submit a final report to the BC PNP to demonstrate how the company has met the terms and conditions of the Performance Agreement. BC PNP will review the report, and may conduct site visits or interviews to verify information. If the BC PNP determines that the company has met the terms and conditions of the Performance Agreement, the key staff members will be nominated for permanent residency.
The key staff members must apply to IRCC for a permanent resident visa within 180 days (approximately six months) from the date of nomination.