British Columbia Provincial Nominee Program for Entrepreneurs

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British Columbia Provincial Nominee Program for Entrepreneurs Canada

British Columbia is a very desirable place to live, study and work in Canada. Despite having an abundance of natural beauty, British Columbia (BC) provides a high standard of living. It has an affordable and reliable healthcare system and offers better wages to the employees. It is a diverse and vibrant society with a rich cultural heritage and has a variety of industries and workplaces.

If you are an experienced entrepreneur who can support innovation and economic growth in the province, you can choose the British Columbia Provincial Nominee Program for Entrepreneurs.

What is the British Columbia Provincial Nominee Program for Entrepreneurs?

With this visa pathway, you can immigrate to British Columbia and start a business. To obtain a visa, you first have to achieve provincial nomination and then you can apply for permanent residence through IRCC (Immigration, Refugees and Citizenship Canada). The Entrepreneur Immigration stream provides three immigration pathways:

#1 Entrepreneur Immigration (EI) – Regional Pilot: This pathway is for entrepreneurs who want to establish their business in the regional communities of British Columbia.

#2 Entrepreneur Immigration (EI) – Base Category: This pathway is for experienced entrepreneurs who intend to establish new businesses or take over and grow existing businesses in British Columbia.

#3 Strategic Projects: This program is for foreign corporations that intend to establish a subsidiary or branch office in British Columbia that strategically aligns with their core business.

Entrepreneur Immigration – Regional Pilot

First, you need to prepare yourself for registration. For that, you need to conduct a self-assessment and check whether you are eligible for the program. You must also contact a community or visit them to understand their requirements. You may request a referral from the community in order to register under the EI – Regional Pilot.
Once you receive a referral, you can apply to the BC PNP. It would require details like work and/or business experience, education, language ability, your net worth, and information about your proposed business in British Columbia.
You might be invited for an interview to discuss your business proposal. If your application is approved, you must sign a performance agreement that outlines all of the requirements you must meet in order to be nominated.
You can seek a work permit to establish your business in BC during your application process. Once you meet all the criteria of the PNP, you will be issued a nomination.
Then, you can apply for permanent residence based on the nomination that you have received.

All these steps are summed up in the table given below:

Preparation

BC PNP Registration

BC PNP Application

Work Permit

Nomination

Permanent Residence

(A) Research community and business needs in B.C.

(B) Conduct an exploratory visit to the community

(D)Online resources

(A) Registration Overview

(B) Creating your Profile

(D) Submitting your Registration

(E) Registration Scoring

(F) Qualified Pool

(G) Invitation to Apply

(A) Net Worth Review

(B) Submitting your Application

(D) Application Assessment

(E) Interview

(F) Performance Agreement

(A) Arrival

(B) Building your Business in B.C.

(A) Final Report

(B) Conditions of Nomination

(A) Applying for Permanent Residence

(B) Work Permit Extensions

Entrepreneur Immigration: Base Category Program

This program is for those entrepreneurs who want to immigrate to British Columbia and invest in and actively manage a valid business. To qualify for this program you must have a personal net worth of at least CAD$600,000, demonstrate business and/or management experience and have, or be eligible for, legal immigration status in Canada.

To apply for a visa in this category, you must find a business opportunity. For that research B.C.’s economy and regions.
Then, create a profile and register with the BC PNP online. You need to provide a business concept here.
Then, you will enter a pool and you will receive a score based on your registration information. Now you have to wait for an invite.

Given below is a comparison between Entrepreneur Immigration: Base Category Program and Entrepreneur Immigration: Regional Pilot Program

A Comparison of EI- Regional Pilot And EI-Base Category Visa Pathways
Criteria	EI – Base Category	EI – Regional Pilot
Experience	Within the last 10 years:	Within the last 5 years:
Experience	At least either 3+ years of experience as a business owner-manager OR, 4+ years of experience as a senior manager, OR, a combination of 1+ years of experience as a business owner-manager and 2+ years of experience as a senior manager.
Net worth	At least $600,000	At least $300,000
Education	Obtained a post-secondary credential, OR, experience as an active business owner-manager for at least 3 of the last 5 years with 100% ownership in the business.
Business proposal	You must submit a business proposal to establish a new business or purchase an existing business in B.C.	You must submit a business proposal to establish a new business in B.C. and be referred by an enrolled community.
Ownership percentage	At least one-third (33.33%)	At least 51%
Investment	Minimum $200,000	Minimum $100,000
Job creation	Must create at least one full-time equivalent job for a Canadian citizen or permanent resident of Canada
Location	Anywhere in British Columbia	Participating communities
Exploratory visit required?	No	Yes. You must engage and visit an enrolled community for support before registering.
Language requirement?	Minimum of CLB 4 equivalent in English or French. Must submit a copy of valid language proficiency test results at the final report (if not previously submitted).	Minimum of CLB 4 equivalent in English or French. Must submit a copy of a valid language proficiency test at registration.
Partner with BC PNP co-registrant allowed?	Yes	No
Partnering with a local business/person allowed?	Yes
Registration scores	Total 200 points (120 points for self-declared section; 80 points for business concept). Must score a minimum of 32 points in the business concept section.	Total 200 points (140 points for self-declared section; 60 points for business concept). No minimum business concept score.
Registration time frame	Registrations are scored within 6 weeks	Registrations are scored within 4 weeks
Net worth verification	Yes, you must obtain a net worth verification report if you are invited to apply.
Application timeframe	Application decisions are typically made within 4 months.
Interview required for approval?	Yes
The minimum amount of time to submit a final report	18 months after issuance of a work permit	12 months after issuance of a work permit
Fees	Registration: $300 Application: $3,500	Registration: $300 Application: $3,500

Strategic Projects

This immigration stream is for foreign corporations who have identified strategic investment opportunities in British Columbia to establish operations that are integral to the growth and expansion of their core business. They can send their key staff to British Columbia and the organization can apply for permanent residence for up to five senior employees. To be eligible for this program a company must:

be well-established and in good financial standing. demonstrate investment readiness and capacity for international expansion into B.C.
provide significant economic benefit to the province by making a high-value investment in B.C.
make a minimum equity investment of at least $500,000 directed toward the corporation’s operations in B.C.
establish new or purchase and expand an eligible business in B.C.
create at least three new full-time equivalent jobs for Canadian citizens or permanent residents for each foreign key staff member proposed (to a maximum of five key staff). The key staff members must also qualify for the eligibility requirements.

Know more about the British Columbia Provincial Nominee Program for Entrepreneurs

Consult V2I immigration experts to know more about this immigration pathway. We can help you understand all the details of the program along with the requirements. Submit your company profile today for an assessment and receive genuine guidance from our immigration experts.