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Do you own a foreign corporation seeking to expand your footprint and drive substantial business growth? The Strategic Projects stream offers a unique gateway for international corporations to invest in British Columbia and manage their operations permanently. Designed to foster economic development and innovation, this stream enables corporations to bring in up to five senior employees to lead and sustain their ventures in BC. Discover how your business can thrive in one of Canada's most dynamic provinces.
Eligibility for the corporation requires being financially stable, ready for investment, and capable of international expansion into BC, with a commitment to providing significant economic benefits to the province.
When it comes to the employees, one of the great advantages of the Strategic Projects stream is the ability to bring key staff members along. For senior employees to be eligible, they need to possess essential qualifications and experience specific to the BC operation. These employees must hold executive or senior managerial positions or have specialized knowledge crucial to the business. They must be hired full-time at the BC operation, offered a salary that matches their expertise and aligns with industry standards and corporate compensation norms, and meet all legal immigration requirements.
The corporation needs to invest a minimum of $500,000 in equity towards operations in BC, either establishing a new business or expanding an existing one.
Additionally, they must create at least three new full-time jobs for Canadian citizens or permanent residents per foreign key staff member proposed, up to a maximum of five.
The application process is somewhat similar to the other two BC entrepreneurship immigration programs.
First, senior executives from the company are encouraged to visit British Columbia. This exploratory visit allows them to gain insights into local opportunities and business dynamics.
Before applying to the Strategic Projects stream, companies must engage with the BC Provincial Nominee Program to discuss their business proposal. This discussion is crucial for aligning their goals with the program’s requirements.
If everything goes well, companies express their interest by registering with the BC PNP. During this registration process, they provide details about the company, the proposed investments in British Columbia, and the qualifications of key staff members. A registration fee of $300 applies at this stage.
Upon review, eligible corporations are invited to submit a full application within 90 days. If the invitation expires, companies have the option to reapply.
When submitting the application, companies must provide a comprehensive package that includes forms for key staff and supporting documents. The application fee is $3,500 for the company and an additional $1,000 for each proposed key staff member.
Once approved, the companies and their key staff sign Performance Agreements with the Province of British Columbia, outlining their commitments and expected outcomes.
Following this, key staff members receive work permit support letters to apply for work permits through Immigration, Refugees, and Citizenship Canada, or IRCC. They must arrive in British Columbia within 180 days and submit an arrival report within 60 days of their arrival.
As the business is established and the commitments outlined in the Performance Agreement are fulfilled, companies submit final reports to the BC PNP. If all terms are met, key staff members are then nominated for permanent residence.
Finally, the nominated key staff must apply for permanent residence through IRCC within 180 days of receiving their nomination.
It's important to dedicate time to thoroughly research the business you're considering establishing in BC. Consulting with experts can provide invaluable guidance in navigating the complexities of entrepreneurship and identifying the most suitable business opportunity for your goals and skill set. By tapping into their knowledge and experience, you can make well-informed decisions that set you on the path to success in your venture.
This program not only facilitates significant investments in one of Canada’s most dynamic provinces but also allows corporations to bring along key staff members who are crucial to their operations. By fulfilling the eligibility criteria and navigating the application process, your corporation can contribute to BC's economic landscape and secure permanent residency for your essential team members.
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.
