The British Columbia Business Entrepreneur Stream has recently reopened to resume intake for those wishing to immigrate and start a business in the coastal province.
The British Columbia Business Entrepreneur Stream has recently reopened to resume intake for those wishing to immigrate and start a business in the coastal province.
As of July 2015, the British Columbia Provincial Nominee Program has resumed accepting registrants under the Entrepreneur Immigration Stream. The process is lengthy but will help lead to permanent residency for successful applicants and their dependent family members.
This move comes following a three month pause in the acceptance of new registrations for the program. The pause existed to allow for a change in the registration process.
To apply, applicants will undergo the following process. First they must research the economy of British Columbia and formulate a realistic business proposal. Once their proposal is complete, they will complete the Entrepreneur Immigration Registration. If they meet the minimum registration requirements, they will be entered in the selection pool. The BC PNP will systematically invite the registrants with the highest scores from this pool to submit their actual application to the program. Applicants will have four months to apply. If they are accepted, applicants will sign a Performance Agreement with stipulations about their business and will have 20 months to fulfill this agreement. If the agreement is upheld, applicants will automatically be nominated for permanent residency through the BC PNP.
Source: Welcome BC Entrepreneur Immigration (http://www.welcomebc.ca/Immigrate/About-the-BC-PNP/Entrepreneur-Immigration.aspx)
There are several requirements for applicants to this program and they will be selected based on their ability to fulfill these criteria. They must demonstrate sufficient business and work experience (including years spent as owner-managers or senior managers of businesses), a personal verifiable net worth of over $600,000, adaptability to the British Columbia economy, and a robust business plan which includes investment in the BC economy and job creation of at least one job. Each of these criteria will equate to points in a total tally of 200. Those with the highest scores out of 200 will be accepted into the PNP.
This program is one of many subsets of the Provincial Nominee Program designed to help select new immigrants based on the needs of the province. Job creation and economic stimulation are two of the greatest goals of this program as well as to help valuable individuals acquire permanent residency more easily.
British Columbia as a province boasts many qualities sought by business owners. It has an extremely strategic geographic location and an abundance of natural resources. It also has low taxes, nominal operating costs, and a multicultural, highly adaptive and productive work force.
For more information about the BC PNP, other provincial nominee programs, or acquiring permanent residence in Canada, please fill out our free online assessment form here.
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