The British Columbia Entrepreneur immigration comes under the British Columbia Provincial Nominee programs (BC PNP). A Provincial Nominee Program is operated under various provinces in Canada. The British Columbia Entrepreneur immigration stream attracts aspiring foreign national immigrants with appropriate experience to own, invest and operate businesses with their finances and expertise in the British Columbia province.
Nomination under the BC Entrepreneur stream targets the highest potential candidates through a scoring system to significantly contribute to the economy of the province. It particularly targets senior managers and business owners who would want to invest in British Columbia.
It is an excellent pathway of the immigration process for qualified candidates aspiring to get a Canadian Permanent Residence. High net worth individuals who wish to run a business and settle in the British Columbia province can choose the British Columbia Entrepreneur PNP. The other two immigration stream that comes under the BC PNP is:
Following are the steps of acquiring a permanent residence and settling in British Columbia through the Entrepreneur Stream of immigration:
Step 1. Get registered
Fill an online registration form and include a short business concept note. Pay the non-refundable fee of $300. The applicant will have a score according to his/her credentials and are kept in a pool of candidates for the next 6 months or till you get an invite from the authorities.
Step 2. Get invited
British Columbia carries regular draws. On an average for the Entrepreneur stream, one draw is carried each month. The applicants score points on the basis of language proficiency, age, and work experience. The applicants can improve their scores by submitting a new business concept while in the pool. Once the candidates receive an invitation to apply, they get 4 months to submit the complete application.
Step. 3 Review of the net worth
Once you receive an invitation to apply, you should get your net worth reviewed by a CIC-designated professional chartered accountant. The review of net worth shall include the amount and source of funds, along with the supporting documents. The applicants would have to bear all costs of getting their net worth evaluated.
Step 4. Submit the final application
The applicants who get invited shall have four months to submit the complete and final application. Also, the candidates may be required to attend an interview. The approved applicants should sign a performance agreement with British Columbia. Post that, the applicants have 20 months to implement their business proposals.
Step 5. Building the Business
The final step under the Entrepreneur stream is to apply to Immigration, Refugees, and Citizenship Canada (IRCC) for a 2 years' work permit. The approved candidates should arrive at British Columbia with a valid work permit in British Columbia with their specified dependants within 1 year after receiving a letter of confirmation. By the end of the period, the applicant must submit a final report to the British Columbia Provincial Nominee Programs (BC PNP)
Step 6. Nomination for Permanent Residence
Later, the candidates and the dependants (if applicable) who meet the terms of their performance agreement then receive nominations for Canadian permanent residence by B.C. province.