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With the increased restrictions, inflated costs, and unpredictable sweeping changes to the SUV program, many individuals are now exploring alternative entrepreneurial immigration streams in Canada. If you’re looking for a secure route to Canadian PR and prefer a hands-on option then the Base Stream of the British Columbia Provincial Nominee Program (BC PNP) might be the good solution. There is no IELTS required upfront, and the rules are locked in after you have signed with the province of BC. Of course there are eligibility requirements, but if you qualify the program offers an enticing alternative to the turbulent SUV waters.
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.
To qualify for the Base Stream of the BC PNP, you'll need to meet several criteria. First and foremost, you should have a personal net worth of at least CAD 600,000, which can be a combined net worth between you and your spouse, demonstrating your financial readiness to invest in British Columbia.
Experience-wise, you must fit into one of the following categories:
* Possess at least 3 years of experience as a business owner-manager OR
* Have at least 4 years of experience as a senior manager OR
* Hold a combination of at least 1 year of experience as a business owner-manager and at least 2 years of experience as a senior manager.
Language skills are essential. You'll need basic English or French proficiency, typically at CLB level 4 or higher. The good news is that a language score is not required at the time of registration. You can submit it with the final report. This gives applicants some additional time to gain proficiency while their application is being processed.
When it comes to education, you should hold a post-secondary degree, diploma, or certificate. However, if you've owned a business for at least three years within the last five years, that experience can also fulfill this requirement.
Your investment, similar to other business immigration pathways, plays a key role. You’ll need to make a personal investment of at least CAD 200,000 in the business. This investment must be made within 610 days, approximately 20 months, of your arrival in BC.
Your business activity should include either establishing a new business or buying and improving an existing one in BC. Additionally, you must own at least one-third of the business.
And finally, you'll need to create at least one new full-time job for a Canadian citizen or permanent resident.
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.
Upon meeting the minimum eligibility requirements, candidates in the BC PNP Entrepreneur Immigration stream are assessed using a points grid to rank registered profiles. The BC PNP online system automatically assigns points based on the provided information. Invitations to apply for the program are extended exclusively to candidates with the most competitive scores and compelling business proposals. To qualify for this program, you must achieve a minimum score of 115 out of 200 points according to the selection grid in the program guide provided by BC.
Points will be awarded to applicants based on their:
* Personal Net Worth
* Investment Amount
* Experience and Business Ownership
* Location of Business
* Job Creation
* Adaptability Factors
* Business Concept
In order to qualify for additional points in key sectors and demonstrate significant economic benefits, your proposed business plan must integrate deeply with a key sector, rather than having a peripheral involvement.
Eligible key sectors include Aerospace, Agriculture, Food & Beverage (specifically food production and processing), Clean Technology, Digital Media and Entertainment, Forestry (including wood product manufacturing), Information and Communications Technology, Life Sciences, Mining, and Natural Gas.
To give yourself an edge in the application pool, the proposed business may showcase other significant economic benefits including:
* Acquisition of 100% ownership of an existing business outside of Metro Vancouver to support succession planning.
* Adoption of new technology that isn't commonly used in similar businesses across British Columbia.
* Implementation of innovative approaches in traditional businesses, enhancing efficiency without widespread adoption by similar businesses in the province.
* Engaging in significant export activities for manufacturing businesses, excluding those solely facilitating export/trade.
* Collaboration with Indigenous Peoples and First Nations communities in business ventures that notably impact or benefit these communities.
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.
As with all immigration steams, there are multiple steps involved. Although the steps below may seem numerous, this is still a unique and accessible pathway to Canadian immigration.
1: Exploratory Trip: Visit British Columbia to explore business opportunities and assess the feasibility of immigration.
2: Business Concept Creation: Develop a detailed business concept aligned with provincial priorities and your expertise.
3: Finalizing Business Plan: Create a comprehensive business plan outlining your investment strategy and operational details.
4: Expression of Interest (EOI) with Business Concept: Submit an Expression of Interest highlighting your business concept and qualifications.
5: Points Assessment: Receive an assessment of points based on your EOI, which determines eligibility for an Invitation to Apply (ITA).
6: Invitation to Apply (ITA): Upon receiving an ITA, proceed with the application process.
7: Third-Party Net Worth Audit: Undergo a net worth audit conducted by a qualified third party to verify financial capabilities.
8: Submission of Supporting Documents: Provide all required documents, including educational credentials, work experience, net worth details, and other pertinent information.
9: Interview: Attend an interview to further assess your suitability for the program.
10: Business Performance Agreement Signing: Sign an agreement committing to business investment and operational requirements in BC.
11: Letter of Support: Obtain a letter of support from BC PNP for the work permit application.
12: Apply for Work Permit and Study/Work Permits for Dependents: Apply for work permits for the main applicant and study/work permits for spouse and dependent children.
13: Start Business Operations: Invest in and begin operating the business in British Columbia for a minimum of 20 months.
14: Post-Landing/Start Report: Provide a report to BC PNP after landing, detailing the commencement of business operations.
15: Interim Progress Report: Submit an interim report to BC PNP on the progress of business operations.
16: Final Pre-Nomination Report: Present a final report confirming the completion of all investment and agreement conditions.
17: Final Nomination: Receive a final nomination from BC PNP to support the Permanent Residency (PR) application.
18: Apply for PR: Apply for Permanent Residency for the applicant and dependent family members through IRCC.
19: Business Continuation: Continue to operate the business in British Columbia as per the Business Performance Agreement.
20: Confirmation of PR (CoPR): Obtain Confirmation of Permanent Residence (CoPR) from IRCC.
21: PR Card Issuance: Receive PR cards for applicant and family members, confirming permanent resident status in Canada.
In short, the BC PNP Entrepreneur Immigration Base Stream is a comprehensive program designed to attract and support talented entrepreneurs ready to invest in British Columbia. While the process may seem complex, with the right support and guidance, you can navigate the requirements, prepare a compelling business concept, and seize this incredible opportunity to live and thrive 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.
