Business - BC PNP ENTREPRENEUR IMMIGRATION

BC PNP ENTREPRENEUR IMMIGRATION

The British Columbia Entrepreneur Immigration stream of the British Columbia Provincial Nominee Program (BC PNP) has a unique registration system, known as the Entrepreneur Immigration Registration. The registration process functions like an '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.
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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. This stream provides a pathway to Canadian permanent residence for experienced businesspeople who can establish themselves in B.C. and invest in and operate a commercially viable business that can provide significant benefits to the provincial economy.

Minimum Requirements

• Meet minimum language requirements in English or French (CLB 5 in all abilities).
• Have sufficient funds to settle in Canada.
• Plan to settle in a province other than the Province of Quebec.
• Pass Canadian security and medical clearances.
• Prove your business is supported through a designated organization.
• Show your business meets ownership requirements.

Pre-Registration Process

Prior to registering, international entrepreneurs are encouraged to conduct business research, correspond with the BC PNP, and make an exploratory visit to the province. In this visit, international entrepreneurs can:

• Investigate and evaluate potential business opportunities.
• Conduct market research.
• Make local business contacts.
• Learn more about what it’s like living and doing business in B.C., and gain a better understanding of our health care and education programs, housing, culture, recreation opportunities, and lifestyle.

If purchasing an existing business, the prospective applicant must ensure the business meets all the eligibility requirements for the BC PNP Entrepreneur Immigration Stream.
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To register to the BC PNP, individuals must create an online profile, complete all sections and include a business concept.

Candidate Requirements

• Have a basic English or French language proficiency equal to a Canadian Language Benchmark (CLB) level 4 or higher.
• 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.
• 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 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).
• Provide details about the business concept specific to the proposal.
• 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.

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

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.
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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.
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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.
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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.

Registration Scoring

Final Scoring and the Selection Pool

The BC PNP will assign scores to the Business Concept and calculate the candidate's final score.

If the candidate qualifies for the selection pool, he or she will receive an email confirmation from the BC PNP and be able to view  their final registration score, including scores for each section.

• Registrations that meet the minimum points total in every section will be entered into the selection pool.
• Registrations that qualify for the selection pool are valid for 180 days (approximately six months).
• If a candidate is not invited to apply to the BC PNP within six months of qualifying, the registration will expire. At that time, he or she may submit a new registration to the BC PNP.
• Candidates may only have one active BC PNP registration at any given time.
• If the candidate is proposing a partnership with a co-registrant, the total score of the lowest-scoring candidate(s) will be applied to all co-registrants.

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

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.
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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.
• Has complied with any other terms of the Performance Agreement.

A registration is not an application, but rather an expression of the candidate's interest in applying to the BC PNP Entrepreneur Immigration Stream. The program's registration scoring is based on self-declared and business concept factors. Candidates must meet the minimum scores for each factor to enter the selection pool. The total score will determine whether or not a candidate may receive an Invitation to Apply under the BC PNP Entrepreneur Immigration Stream.