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Stuck with your temporary status and looking to secure permanent residency in British Columbia? Or perhaps you're interested in Canada, but have always had a special affinity for BC as an option? The Regional Stream of the British Columbia Provincial Nominee Program (BC PNP) offers a remarkable opportunity for entrepreneurs inside or outside of Canada to obtain their permanent status while establishing and growing their businesses in specific BC communities. Originally launched as a pilot in 2019 and now a permanent fixture as of May 27, 2024, this program is designed to attract and support business-minded individuals.
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To determine if the Regional Stream program is right for you, we first need to thoroughly review its eligibility criteria.
To be eligible, you must meet the following criteria:
To be eligible for the Regional Stream program, you must possess a personal net worth of at least CAD 300,000. In terms of business experience, you need to meet one of the following criteria: either have at least three years of experience as a business owner-manager, have at least four years of experience as a senior manager, or hold a combination of at least one year of experience as a business owner-manager and at least two years of experience as a senior manager.
Proficiency in either English or French is crucial, typically at CLB level 4 or higher, and language results should be submitted during the registration process. Education-wise, post-secondary education or ownership of a business for three years or more within the past five years is mandatory.
A minimum eligible personal investment of CAD 100,000 in the business is necessary. This investment must be made within 610 days (approximately 20 months) of arriving in B.C. on a BC PNP-supported work permit. Your business endeavor should involve establishing a new business in an enrolled community in BC, with a referral by an enrolled community.
Additionally, you must own at least 51% of the business. To qualify for this program, you need to achieve a minimum score of 105 out of 200 points according to the selection grid provided by BC.
So, you meet all the criteria, what is next?
If you decide you want to submit an application for this stream, there are a few steps to follow.
The first step is undertaking an exploratory visit to British Columbia (B.C.) to assess opportunities, conduct market research, and network with local businesses.
It's worth noting that while an exploratory visit is not mandatory for other streams such as the base stream, a preliminary trip is obligatory for the regional stream.
Next, you will need to register for the BC PNP by creating an online profile that details your work and business experience, education, language proficiency, net worth, and proposed business in British Columbia. Registration fees apply, and the scoring process takes about six weeks. After registering, complete the application, attend an interview if required, and, upon approval, sign a performance agreement and apply for a work permit. You must arrive in B.C. with a valid work permit within 12 months of confirmation.
Are you interested in applying for the Canada Investor Visa? At INGWE we are EXPERTS and we can support you throughout the process, we have licensed business immigration professionals ready to help. Get a FREE email assessment, click here.
Once in Canada, you are required to create at least one new permanent full-time equivalent (FTE) job for a Canadian citizen or permanent resident within the proposed business, within 420 days (approximately 14 months) of your arrival in British Columbia on a BC PNP-supported work permit. Implement your business plan and make the necessary investments within 20 months.
After submitting a final report to BC PNP, you will undergo assessment, site visits, and interviews. If deemed eligible, you will receive a nomination for permanent residence. There is a 12-month window after the issuance of the work permit to submit the final report.
Finally, obtain your PR! Apply for permanent residence under the Provincial Nominee Class at IRCC, meet the security and admissibility requirements, and if approved, receive your permanent residency. Remember, you must obtain a net worth verification report if you are invited to apply.
While the BC PNP Regional Stream program may seem complex and lengthy, it offers significant advantages for those truly interested in running a business in Canada. This pathway allows you to get started on your entrepreneurial journey as soon as you enter the country. Additionally, the program provides the opportunity to integrate into vibrant BC communities, access local markets, and benefit from Canada's economy. By meeting the program's requirements and navigating the process diligently, you can secure permanent residency and enjoy the many benefits of living and working in one of Canada's most dynamic provinces.
If you’re thinking about immigrating whether permanently or temporarily - you’re at the right place! Our team speaks over +9 languages, and we help applicants from over 50 different countries during their immigration process. Get a FREE email assessment, click here.
If you’re ready to apply and would like a 1-on-1 session with me or one of immigration team members at INGWE, you can also book a session directly using this consultation link.
