BC PNP Entrepreneur Immigration

The BC PNP Entrepreneur Immigration stream is the best path for those who aspire to immigrate to Canada and settle in one of the most famous provinces of the country British Columbia. If you have the sufficient experience as an entrepreneur that can bring about positive changes in the economic growth of the province and need BC PNP Entrepreneur Guide, then keep reading this article for the further necessary information.

BC PNP Entrepreneur Immigration Requirements

An aspirant desiring for Canada Immigration and is prepared to invest and manage a business in the country needs to qualify bc pnp entrepreneur immigration program. The requirements are listed below:

BC PNP Entrepreneur Immigration Personal Eligibility Requirements:

A candidate has to:

  • Have a personal net worth of minimum CAD$600,000
  • ✍ Have the eligibility for legal immigration status in Canada
  • ✍ Have proof of business or management experience

The candidate has to be lawfully admitted in the country where they are living currently.

Requirements for investment, business, and job

To be eligible, a candidate must:

  • ✍ Set up a new business or buy and improve a business that exists
  • ✍ Create minimum one full-time job for a permanent resident or citizen in that business
  • ✍ Be capable of investing minimum CAD$200,000 personally in the business

BC PNP Entrepreneur Immigration Application and Registration Fees:

Each applicant has to pay these fees:

  • ✍ $3,500 application fee
  • ✍ $300 registration fee
  • ✍ $1,000 for every key staff application

BC PNP Entrepreneur Immigration Process

The first thing an aspirant needs to do is to research the current economy of British Columbia and its regions so that you may find out a business opportunity. The WorkBC website will be helpful for providing you with the data and information about B.C.’s industries and labour market. When the aspirant has a business idea, they need to create a profile and registration with the online application and registration system, BCPNP Online. The applicant needs to include a business idea.

If the applicant has eligibility, they will get a score that is based on the registration information. The applicant will be put into a qualified pool. On a periodic basis, the applicants who have scored highest are invited to apply by means of BCPNP Online. And, those who are not invited can reapply after six months in the qualified pool

Note: Registration fee is $300 and not refundable.

The Review of the Candidate’s Net Worth

If an applicant is invited to apply, then a BCPNP qualified supplier reviews the personal net worth claims of the applicant, and then the supplier verifies the fund source assessing the supporting financial documentation of the applicant. A BCPNP qualified supplier is a professional charted accounting services supplier. A list that consists of qualified suppliers and instructions is in the candidate’s invitation to apply. The candidate will be responsible for all the costs related to the verification service. On the completion of the review, the supplier will prepare the applicant’s personal net worth, and its copies will be sent to the BCPNP and the applicant.

BC PNP Entrepreneur Immigration Application Assessment

On being invited to apply, the applicant has 120 days to submit their application for consideration by means of BCPNP Online. An application is assessed by the program criteria chosen. The candidate may face an in-person interview. The application can be rejected if the details found different from the registration information. The bc pnp entrepreneur immigration stream must be taken seriously; because the immigration authority rejects many applications.

The candidate may be invited to for an in-person interview at the BCPNP offices in Vancouver. During the interview, the question about candidates’ work or business experience can be asked. It’s wise to be for the discussion about the business plan. The application is assessed as per the information provided by the candidate in the interview and application.

In case of the application approval, the candidate will sign a Performance Agreement with British Columbia. This Performance Agreement is unique to the candidate due to being based on the information provided in the application, interview, and the business plan. Having signed the Performance Agreement, the candidate will have 610 days to implement their proposal in the province.

Establishing Own Business in British Columbia

After having all the things mentioned above, the candidate has to establish their business following the terms and conditions the Performance Agreement.

The candidate will be given a support letter to facilitate them to apply for Immigration, Refugees and Citizenship Canada (IRCC) for a two-year work permit.it will allow the candidate and their dependents to move to British Columbia to start the business. It is mandatory to come to B.C. having the valid work permit within 12 months of the date of the letter of confirmation.

After arriving in the province with the valid work permit, the candidate will be allowed up to 610 days to implement their business plan. The candidate must fulfill all the performance expectations the Performance Agreement they signed. The candidate has to submit a final report to the BCPNP between 550 to 610 days after arriving in British Columbia.

Nomination

If the candidate fulfills all the expectations mentioned in the Performance Agreement within a period of 610 days or 20 months, the candidate will be nominated by the BCPNP, and your staff members, if applicable for permanent residence.  The candidate will be sent (the provincial nominee) a:

  • ✍ Confirmation of nomination
  • ✍ Nomination package guiding the applicant about the next steps for the submission of the federal application for permanent residence to IRCC.

BC PNP Entrepreneur Immigration Strategic Projects

It is important to go through bc pnp entrepreneur immigration program guide for the necessary information about strategic projects.

It is for those who aspire to set up their own business in British Columbia.  The Strategic Projects category of the BC Provincial Nominee Program (BCPNP) Entrepreneur Immigration Stream allows foreign-controlled companies to set up a branch or other operating facility in the province.

The company can suggest at most five staff members playing vital roles in the business running and want to settle in the province, and these members are required to actively manage the business operation.

The Eligibility of the Company According to BC PNP Entrepreneur Immigration

 The company should be financially strong. It has to provide all the necessary proof to show the proper and ideal business practices and fruitful business operations out of Canada that is related to the proposed business project.

  • ✍ The company has to show that the recommended main employees are its capable senior employees who are very important in running the business.
  • ✍ The company must be able to find out the promising investment opportunities in the British Columbia province which are on credible foundations and commercial decisions.

Eligibility of the key members of the company as per BC PNP entrepreneur immigration

The key members of the company must be eligible for the immigration status in Canada. The candidates who have one of the factors mentioned below will be rejected:

  • ✍ Being prohibited from entering the country
  • ✍ Not being lawfully admitted in the country currently living
  • ✍ Being in Canada but out of status (A person whose status has been expired, and cannot show the proof of having applied for the restoration of status within the eligibility period of 90 days, will be regarded out of status)
  • ✍ Having an unsolved refugee claim in the country
  • ✍ Working somewhere in Canada without any authorization
  • ✍ Being under a removal order either outside or in the country

The company’s eligibility according to bc pnp entrepreneur immigration

  • ✍ The company has to invest at least $500,000 to set up, buy, and expand a business in British Columbia
  • ✍ The company must found, buy, or expand a company in the province
  • ✍ The company is required to provide minimum three jobs to the citizens or permanent residents of the country for each foreign main staff member recommended ( at most five key staff members)

Exploratory visit for the representative of the company

It is for the senior officers of the company who represent it to visit British Columbia to seek out and know more about the business environment and business opportunities here.

Having discussions about the proposal

It is very important for the company applying for the Strategic projects category to discuss and gain information about this program and the proposal to the immigration authority of British Columbia. Registration is also required for all this. The company is required to provide the listed information:

  • ✍ Important information of the company like the year of foundation, business activities, number of employees, and sales revenue
  • ✍ The description of that business the company has planned to set up, buy, and expand in British Columbia
  • ✍ The connection between the company’s main business and the proposed business
  • ✍ Projected yearly revenue
  • ✍ Details of investment reasoning and failure
  • ✍ The job types it will provide in the province
  • ✍ The responsibilities and roles of each main staff member in the parent company and the business in British Columbia
  • ✍ A strong determination and the study of the business viability
  • ✍ Some other questions if required

BC PNP Entrepreneur Immigration Application Process:

BC PNP Entrepreneur Immigration application guide should be kept in mind for the assurance and convenience. The registration processing fee costs $300. If the company is found qualified, it is invited to submit a full application. The company and the key staff members have to submit each necessary form and supporting documentation. The corporate application processing fee costs $3,500, excluding a $1,000 application processing fee for each main staff member of the company.

The application is to be screened for completeness. The company may also need to answer some questions for clarification and submit extra documents.

It is an integral part of the application assessment process that all main staff members have to face in-person interview at the BCPNP offices in Vancouver.

After the approval of the application, the designated signing authority of the company signs a Performance Agreement with B.C. each key staff member of the company is provided a work permit support letter. It allows the staff members to apply for a work permit for a period of two years from Immigration, Refugees and Citizenship Canada (IRCC).

It’s mandatory for the company’s staff members to submit an arrival report form to the BCPNP on their arrival with a valid work permit.

The company has to submit a final report to the BCPNP showing how it has followed the terms and conditions mentioned in the Performance Agreement. The report is reviewed and the immigration authority may also do some necessary site visits and interviews for the information verification. If the company found to have followed all the terms and conditions mentioned in the Performance Agreement, its key staff members will be nominated for the permanent residency.

The company’s key staff members have to apply to IRCC for a PR visa within a period of six months (180 days) from the nomination date. An applicant, applying for the first time, needs to have BC PNP entrepreneur immigration guide; because it is not only confusing but also consisting some chances of rejection to a large extent.

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