BRITISH Columbia - THE PLACE TO BE FOR ALL Entrepreneur
Entrepreneur Immigration
British Columbia is one of Canada’s most sought after destinations for entrepreneurs due to its mixed cultural workforce, dynamic locations, and competitive taxes. The vibrant environment to set or manage business makes it a unique choice among foreign corporations and aspiring entrepreneurs
This stream is for experienced entrepreneur to who want to settle in B.C.
- Entrepreneur Immigration (EI) stream covers all those experienced entrepreneurs/businesspersons who are willing to invest or willing to manage an established business venture in BC. The entrepreneur program has been classified under three categories; one can choose either of the same as per eligibility.
- Entrepreneur Immigration (EI)-Base Category: This category includes all those entrepreneurs who are willing to set up a new business or can take over an existing business in BC.
- Entrepreneur Immigration (EI) – Regional Pilot: This category is intended to attract foreign entrepreneurs to establish business projects among regional communities and to encourage the economic development of local communities as well as stimulate job creation.
Eligibility
To become eligible under this category, the corporation must fulfill the below requirement
- Sound financial aspect and business must be well-established
- Able to demonstrate the investment capabilities and any such expansion into BC i.e. minimum equity investment of $500,000 toward operations
- Economic benefits to the province through high-value investment
- Must be able to create a minimum of 3 full-time jobs for Canadian citizens and the key staff of the business
Eligibility criteria of key staff: Key staff must have adequate experience and education qualification as per BCPNP requirements to operate the business in BC, for senior and executive levels the staff must have specialized knowledge requisite for managing business. The wage offered must be inconsistent with the industry-standard wage of BC.
The application process under this category
- Initial process: Key representatives of the corporation must make an exploratory visit to BC and before applying must contact BC PNP official to discuss the business proposal. Post that the company needs to register with intent of interest conduct business in BC including the details of companies, investment projections, and proposed key staff experience and qualification.
- Invitation To Apply (ITA): Once you are eligible, you will get ITA and needs to submit requisite application within 90 days.
- BCPNP registration: Once the requisite details/supporting documents are submitted to BCPNP, the applications are reviewed and in cases, key staff may interview in person at BC PNP office Vancouver. The final communication may be informed to the company post the decision.
- Agreements Signing: Once the application is approved, the designated authority of the company needs to sign a corporate performance agreement with the province of BC. Also, the approved key staffs need to sign such an agreement.
- Work permit: After signing off the agreement, the work permit is issued to key staff to apply for a work permit under IRCC which is valid for 90 days, after getting sign performance agreement the company staff needs to visit BC with a valid work permit within 180 days of issuance of work permit support letter. Once staff arrived at BC, each staff needs to submit an arrival report within 60 days of their respective arrival dates.
- Review and verification: Once the final reports are submitted by the foreign corporations, BC PNP verifies the reports of performance agreement through a site visit or an interview. Upon meeting the terms and conditions of the performance agreement, the key staff will be nominated for PR. Each of the staff members needs to submit the application of PR to IRCC within 180 days of such a nomination.