British Columbia investment program
- The BC Entrepreneur Program provides an opportunity for qualified individuals and families to move to the Canadian Province of British Columbia and operate their own small business and live their peacefully.
- The BC Entrepreneur program is part of the British Columbia Provincial Nominee Program (BCPNP) and is best suited for experienced business owners and managers who have the financial ability and knowledge to create or improve a Canadian business, this plan is just for them.
THINGS TO FOCUS ON:
- The program’s main objective is to stimulate economic growth and create jobs in British Columbia.
- The immigrant entrepreneurs who are selected to participate in the program are given a two-year work permit.
- While that permit is in effect, an entrepreneur must actively manage his or her business for at least 18 months or more.
- Participants who successfully complete all BC business immigration requirements will become provincial nominees which also make them and their family members eligible for expedited permanent residence in Canada.
- It is expected, (but not required) that provincial nominees will continue to operate their business while living in British Columbia.
British Columbia Investment Immigration Steps:
- Determine whether the Entrepreneur Program’s eligibility requirements can be met. Submit an online registration (also known as a pre-application)
- Wait for an invitation to apply after the pre-application has been scored
- Within four months of receipt of an official invitation, submit an online application to the BCPNP that includes a comprehensive business plan
- Cooperate with the assessment process, including an in-person interview
- If the investor immigration application is approved, sign a performance agreement and obtain a work permit
- Establish residence in British Columbia within 100 km of the business
- Establish and manage the business in British Columbia for 18 to 20 months
Submit a final report
- Await confirmation of nomination as a provincial nominee
- Apply for permanent residence (including eligible family members)
- Obtain permanent residence visas
THINGS TO KNOW:
- Not every person who registers for the BC Entrepreneur Program is invited to apply.
- It often helps to have legal advice and other professional assistance to present information in a way that will maximize your applicant score.
- The BCPNP assigns a score to every British Columbia business immigration registration. Points are assigned to registrants based on a number of factors.
- Eligible entrepreneurs who have the highest scores are invited to apply.
- It is therefore important to understand the scoring factors when deciding whether to register.
- Prospective applicants may also be able to improve their score by taking certain steps before registering.
- Investor to have a personal net worth of at least CAD$600,000
- If invited to apply, an investor must include a review of personal net worth completed by a qualified accounting firm
- Propose a business plan that has a strong likelihood of sustained commercial viability
- As part of the business plan, propose to make a minimum personal investment of CAD$200,000 ineligible expenses and create at least one new job in the proposed B.C. business
- 3 to 4 months for an invitation
- 18 to 20 months for work permit approval
- Post this, 6 to 7 months Permanent Residence application to be approved
- Successful and experienced: Investor is knowledgeable and has a strong background in the sector of the proposed business in B.C.
- Investment-ready: Investor have transferable skills, experience and investment funds, and are ready to execute the business proposal
- Prepared: Investor understands how they can make a proposed business profitable, the risks, the local business conditions and the required resources
- Confidence: Investor to have confidence in business ventures
- Adaptable: Investor can demonstrate the due diligence have been undertaken to fully understand the local business environment
Benefits of BC Provisional Nominee Program
- Access to all rights of a Canada citizen protected by Canadian legislation and regulations,
- Earlier entry for business immigration
- Retain control of the funds actively by the investor
- No language proficiency levels required
- No need to have the new minimum net worth and investment requirements of the Federal Investor Program
- The inclusion of family members, such as spouse or partner, dependent children and dependent parents.
- Selection into the programmed leads directly to Permanent residency
PROCESSING (APPLICATION WORKFLOW):
Assessment and Consultation
Source of funds and Apply EOI
Run the Business