The British Columbia Entrepreneur Immigration stream of the British Columbia Provincial Nominee Program (BC PNP) functions like an EOI Model (Expression of Interest Model), which means eligible candidates, who have registered, must be invited to apply before they can submit an application to the program.

Successful candidates will obtain a work permit and, if the business operation in British Columbia fulfills the requirements of the stream on an ongoing basis, they will be able to apply for permanent residence in Canada through the BC PNP.

BC PNP Entrepreneur Immigration Stream

Overview

Minimum Requirements

• Personal net worth of at least $600,000 (including cash, assets in bank accounts, fixed deposits, real properties, investments, etc). The net worth must be legally obtained and may be under the spouse or common-law partner’s name. This net worth must verifiable if invited to apply;
• Post-secondary credential or experience as an active business owner-manager with 100 percent ownership of the business for at least three of the past five years.
• Eligible experience as an active business owner/manager and/or senior manager;
• Submit a business concept that demonstrates an active and ongoing management role in the day-to-day operations of the proposed business and the creation of at least one new job in the proposed B.C. business; and
• Personal investment of CAD 200,000 in eligible expenses. If proposing a key staff member, the investment requirement increases to CAD 400,000 and the job creation to three.

Application Process

1. Conduct business research.
2. International entrepreneurs should preferably conduct an exploratory visit to BC to learn about business opportunities and the local business environment.
3. Register with the BC PNP by creating an online profile, paying fees and obtaining a registration score based on various factors, including business ownership/senior management experience, personal net worth, adaptability, business concept and others. Candidates will be assigned a score for the business concept within six weeks of creating a profile.
4. The highest-ranked candidates are invited during periodic draws held by the BC PNP.
5. If invited to apply, candidates have 120 days to submit a complete application under the BC PNP Entrepreneur Immigration Stream, obtain a review of the declared personal net worth and funds, and pay the required fees. Applications are assessed based on program criteria. Applicants may be invited to attend an in-person interview in Vancouver during the application assessment stage.
6. If an application is approved, international entrepreneurs sign a Performance Agreement and receive a Letter of Confirmation to apply for a two-year work permit with Immigration, Refugees and Citizenship Canada (IRCC).
7. Once they arrive in BC, international entrepreneurs have up to 20 months, or 610 days, to implement the business plan, actively manage their business, meet all the conditions of the signed Performance Agreement, and demonstrate residency within 100km of the business (for at least 75% of the work permit period).
8. Between 18 and 20 months after arriving in the province, entrepreneurs must submit a final report to the BC PNP describing their business activities while on a valid work permit.
9. The Government of British Columbia nominates approved entrepreneur applicants by issuing a confirmation of nomination, which enables entrepreneurs and their eligible dependent family members to apply for permanent residence with IRCC.
10. IRCC may review additional information in the application to ensure that the nominee continues operation of the business and residence in B.C.

BC PNP Entrepreneur Immigration Registration Requirements

Candidate Requirements

In order to be eligible to register, individuals must:

• must have been lawfully admitted in the country where they are currently residing;
• have at least a minimum of $600,000 in personal net worth. The personal net worth must be legally obtained and verifiable. The candidate must disclose personal net worth, including all your assets and those of your spouse or common-law partner, less any liabilities including mortgages and personal debts;

If invited to apply, individuals must obtain a verification report from BC PNP-qualified supplier. Failure to provide satisfactory evidence to verify personal net worth and source of funds may result in the refusal of an application.

• have a minimum of three or more years as an active business owner-manager OR four or more years as a senior manager OR a combination of at least one year of experience as an active business owner-manager AND at least two years of experience as a senior manager (in the past 10 years);
• have a post-secondary credential OR experience as an active business owner-manager with 100 per cent ownership of the business for at least three of the past five years. The percentage of ownership of the business may be shared between the candidate, the spouse or common-law partner, and/or his or her dependent child(ren);

If invited to apply, individuals will be required to provide evidence of their education and may be required to provide an Educational Credential Assessment (ECA).

• provide details about the business concept specific to the proposal;

If invited to apply, individuals must demonstrate the proposed business is consistent with the registration business concept and show the potential for commercial viability to show how the proposed business will be successful in B.C.

• demonstrate an eligible personal investment of at least $200,000 in the proposed business within 610 days (approximately 20 months) of arriving in B.C. on a BC PNP-supported work permit;
• demonstrate that the business will create at least one permanent, new full-time equivalent job for a Canadian citizen or permanent resident of Canada within 365 days (12 months) of the arrival date.

Business Concept Requirements

The registration must include a short business concept that will be assigned points based on proposed commercial viability, transferability of the candidate’s skills, and economic benefits. If the candidate is subsequently invited to apply, he or she will be required to submit a comprehensive business plan. The BC PNP will consider registrations to establish a new business, purchase an existing business, form a partnership with an existing business, and partner with a local or foreign entrepreneur to establish a new business.

Eligible Businesses

If invited to apply, individuals must prove that the business being purchased or established can contribute to the province’s economic growth. Also, they must prove they will own at least one-third (33.3 per cent) of the established or proposed business. If the applicant has less than 33.3 per cent ownership, he or she must invest at least $1,000,000 in an equity purchase.

An individual looking to franchise may be considered under this stream if the proposed franchise is well-established. The potential applicant will be required to provide an expansion/improvement plan that is in accordance with franchisor requirements.

A proposal for a seasonal business will be considered by the BC PNP only if the business operates for a minimum of eight months each year and meets all other eligibility requirements for the Entrepreneur Immigration stream.

Ineligible Businesses

The following types of businesses are ineligible under the BC PNP:

• an immigration-linked investment scheme pursuant to Provincial Immigration Programs Regulation section 6(e) and the Immigration and Refugee Protection Regulations (IRPR) section 87(5)(b) and as defined in IRPR 87(9)
• any business where the terms of investment include a redemption option pursuant to IRPR 87(6)(d)
• bed and breakfasts, hobby farms and home-based businesses
• payday loan, cheque cashing, money changing and cash machine businesses
• pawnbrokers
• scrap metal recycling
• coin-operated laundries
• automated car wash operations
• businesses selling used goods (excluding businesses that provide value-added services such as repairs, refurbishing or recycling)
• real estate development/brokerage, insurance brokerage or business brokerage
• businesses involved in producing, distributing or selling pornography or sexually explicit products or services, or providing sexually oriented services
• any other type of business that by association would tend to bring the BC PNP or the Government of British Columbia into disrepute.

The BC PNP will not consider registrations for the following businesses proposed in Regional Districts with a population more than 300,000:

• convenience stores
• DVD rental stores
• gasoline service stations
• personal
• dry cleaning services
• tanning salons

An individual will be disqualified from registering for the Entrepreneur Stream if the proposed business is ineligible.

Investment Requirements

In order to register, an entrepreneur must demonstrate that he or she will make an eligible personal investment of at least $200,000 CAD in the proposed B.C. business within 610 days (nearly 20 months) of arriving in the province. If proposing a key staff member, the candidate must demonstrate that he or she will make an eligible personal investment of $400,000 CAD.

The minimum personal investment of $200,000 must be obtained from a candidate’s personal net worth.

Requirements for the Key Staff Member

The following types of businesses are ineligible under the BC PNP: As an employer, an Entrepreneur Immigration candidate must demonstrate:

• a rationale for a key staff member in relation to the domestic labour market – that a Canadian citizen or permanent resident would not be able to perform the proposed duties; and
• that the business will create at least three new, permanent, full-time equivalent positions for Canadian citizens and/or permanent residents of Canada.

The proposed Key Staff member must:

• have worked with the candidate in a senior position for at least one year out of the last three years, and have a critical skill set for the proposed B.C. business;
• fill a job in that is classified under the National Occupational Classification (NOC) system as a Skill Type 0 or Skill Level A;
• possess a minimum of two years of post-secondary education (if education and work experience are not specifically identified in the proposed position in B.C.); and
• earn a wage equal to or greater than the median for that occupation in B.C.

If the candidate is invited to apply, the key staff member may be asked to attend an in-person interview, sign a Performance Agreement and demonstrate relevant work experience that is transferable and essential for their work in the proposed business in B.C.

In order to obtain a nomination, the key staff member must meet the terms and conditions outlined in the Performance Agreement (full-time work in the business, reside close to business, and wage) and must not hold 10 percent or more ownership of the proposed business.

Ineligible Investments

The following are not considered eligible investments:

• cash and working capital
• wage payments made by the candidate and your family members, if applicable
• real estate (when purchasing an existing business only the business value portion of the purchase price will be considered as an eligible expense).

The BC PNP discourages any investment or financial commitment prior to signing a Performance Agreement with the BC PNP and obtaining a valid work permit from IRCC.

An international entrepreneur may use external financing from a business partner or financial institutions. The entrepreneur must, however, identify how the financing will be obtained and how it will be applied in the proposed investment

Job Creation Requirements

Candidates must demonstrate that they will create at least one new permanent, full-time equivalent job for a Canadian citizen or permanent resident in the proposed business within 365 days (12 months) of arriving in the province. Individuals must also demonstrate the likelihood of supporting long-term employment of Canadians or permanent residents in the business.

Candidates who propose a key staff member must demonstrate they will create at least three full-time equivalent (FTE) employees.

An FTE position must be for at least 30 hours per week (1,560 hours a year) and be fulfilled by one or more employees under continuous employment. FTEs must be Canadian citizens or permanent residents of Canada and must not be independent contractors or shareholders with more than 10 percent ownership of the business.

The candidate will be awarded points for the business concept if the positions created are classified under NOC skill levels 0, A or B and a rationale is provided for the creation of these FTE positions.

If an individual’s plan is to purchase an existing business, the number of existing jobs in the business must be maintained and employee(s) must be paid a wage that is comparable to their skill level.

If later approved for a provincial nomination, individuals must demonstrate that they have consistently and continuously employed the required number of FTEs for at least six months.

Click below to know everything about the scoring system for BC PNP Entrepreneur Immigration Registration:

BC PNP Entrepreneur Immigration Registration Scoring

If a candidate has entered into the selection pool, his or her final registration score will be ranked along with other candidates. Periodically, the BC PNP will invite the highest-ranked candidates to apply to the Entrepreneur Immigration Stream

The Invitation to Apply

Meeting the minimum eligibility requirements does not guarantee that a candidate will be invited to submit a complete application.

If a candidate is invited to apply, he or she will receive an email notification and will have up to 120 days (approximately four months) from the date of invitation to submit a complete application.

At this stage, the applicant must pay a $3,500 CAD non-refundable processing fee to the province and submit a complete application package. An applicant’s spouse, common-law partner and/or dependent children are included in the application fee.

The BC PNP may invite the applicant to attend an in-person interview at the BC PNP office in Vancouver. Interviews are conducted in English only. If an applicant is unable to communicate in English, he or she must obtain the services of a certified court interpreter. This is to ensure the applicant will be able to clearly communicate to BC PNP program staff.

If an application is approved, the BC PNP will require applicants to sign a Performance Agreement. Failure to meet the Performance Agreement expectations may result in a loss of nomination.

Applicants who are invited to apply will need to engage a qualified supplier to verify their personal net worth and accumulation of funds as part of the nomination process.

Performance Agreement – Details

The Performance Agreement for the applicant includes:

• type of business and location
• investment amounts and timelines
• the number and type of positions to be created for Canadian citizens or permanent residents
• active management requirement
• residency requirements
• timeframes within which you must meet these requirements

The key staff member’s Performance Agreement includes:

• the employer and business location
• occupation and related NOC code
• full-time employment (minimum 30 hours per week, or 1,560 hours per year)
• residency requirements
• timeframes within which you must meet these requirements

Work Permit Period and Business Establishment

If an application is approved, the BC PNP will issue a Letter of Confirmation to the applicant. The Letter of Confirmation serves as a work permit support letter that allows approved applicants to obtain a two-year work permit from IRCC. This allows the applicant and his or her dependents to move to B.C. to start implementing the business plan. The letter remains valid for 90 days (approximately three months).

Within 60 days of arriving in B.C. with the valid work permit, the entrepreneur must submit an arrival report to the BC PNP. The arrival report must include basic information about updated contact information in B.C., the work permit, and whether the requisite funds were transferred into a financial institution in B.C.

The international entrepreneur will have up to 610 days (approximately 20 months) to implement the business plan, actively manage your business, and satisfy the conditions of the signed Performance Agreement.

Nomination Requirements

If the applicants meet the requirements of the Performance Agreement within the 20 months, the BC PNP will nominate him or her for permanent residence. An applicant, along with his or her dependent family members, can then apply for Canadian permanent residence under the BC PNP with IRCC.

Once the entrepreneur completes the terms of the Performance Agreement, he or she can submit a Final Report to the BC PNP to be issued a nomination certificate. The entrepreneur must demonstrate that he or she:

• is actively managing a business (i.e., be accountable for the day-to-day operations of the business) in British Columbia;
• resides within 100 kilometers of the business;
• has been physically present in BC for at least 75 percent of the time that he or she was on a work permit; and
• has complied with any other terms of the Performance Agreement.

Who is not eligible to apply to the BC PNP Entrepreneur Immigration Stream

The BC PNP will not nominate an individual who:

• is prohibited from entering Canada;
• has not been lawfully admitted in the country of current residence;
• is in Canada and is out of status;
• has an expired status, and who has not applied for restoration of status within the 90-day eligibility period, will be considered out of status;
• is working in Canada without authorization;
• has an unresolved refugee claim in Canada;
• is under a removal order in or outside of Canada; and/or
• are in Canada and do not have valid immigration status, or if you are working without authorization.

For any queries regarding various Express Entry or PNP Programs, contact Eduglobe Consultants at +919899566002/ +919999566002 or email us at vyom@eduglobeconsultants.com