The British Columbia Provincial Nominee Program (BC PNP) offers a unique pathway to permanent residency (PR) in Canada through its Entrepreneur Immigration streams. Tailored for business-minded individuals, these streams provide opportunities to establish or enhance a business in BC while obtaining PR. This guide highlights the minimum requirements for two main streams within the BC PNP: the Entrepreneur Immigration – Base Stream and the Entrepreneur Immigration – Regional Stream.
Entrepreneur Immigration – Base Stream
This stream is designed for experienced entrepreneurs who wish to start or buy an existing business in a major BC community.
Minimum Requirements:
- Business Proposal: Propose a viable business plan to either start a new business or purchase and improve an existing business in BC.
- Ownership Percentage: Hold at least 33.3% ownership of the business. If less, an equity investment of at least CAD 1 million is required.
- Investment: Invest a minimum of CAD 200,000 in eligible business expenses.
- Job Creation: Create at least one full-time job for a Canadian citizen or permanent resident.
- Active Management: Actively participate in the daily management of the business in BC.
- Residency: Live within 50 km of the business and spend at least 75% of your time in BC on a work permit.
- Personal Net Worth: Possess a minimum personal net worth of CAD 600,000.
- Registration Score: Obtain a minimum of 115 points in the BC PNP registration system, including 40 points in the business concept.
- Language Proficiency: While not required for initial registration, a CLB 4 in English or French is required for nomination.
Entrepreneur Immigration – Regional Pilot Stream
The Regional Pilot Stream focuses on encouraging entrepreneurial investment in smaller communities in BC, aligning with the economic development goals of specific regions.
Minimum Requirements:
- Business Proposal: Establish a new business in a participating regional community, backed by a referral from the community.
- Ownership Percentage: Own at least 51% of the business.
- Investment: Invest a minimum of CAD 100,000 in eligible business expenditures.
- Job Creation: Create at least one full-time job for a Canadian citizen or permanent resident.
- Active Management: Manage the business actively from within the supporting community.
- Residency: Reside within the community and spend at least 75% of your time in BC on a work permit.
- Personal Net Worth: Have a minimum personal net worth of CAD 300,000.
- Registration Score: Obtain a minimum of 115 points, with at least 40 points in the business concept section.
- Language Proficiency: Demonstrate a CLB 4 in English or French at registration.
Additional Considerations for Both Streams
- Eligible Businesses: Certain businesses are ineligible, including passive investments, home-based businesses, and some specific industries.
- Detailed Business Plan: Submit a business plan with comprehensive details on operations, market analysis, financial forecasts, and job creation.
- Net Worth Verification: Have your personal net worth verified by a BC PNP-authorized accounting firm.
- Work Permit: Apply for a work permit after signing a performance agreement with BC PNP.
- Final Report Submission: Submit a report confirming you met your performance agreement’s terms to qualify for PR nomination.
- IRCC Application: Once nominated, apply to Immigration, Refugees and Citizenship Canada (IRCC) for PR through the Provincial Nominee Class.
Conclusion
The BC PNP Entrepreneur Immigration streams offer excellent opportunities for individuals looking to combine business ownership with a pathway to PR in Canada. By meeting the minimum requirements for either the Base or Regional streams, entrepreneurs can establish themselves in vibrant BC communities while contributing to the local economy.
Contact Soleimani Immigration to Explore the benefits of BC PNP business immigration today and start your journey to Canadian permanent residency!