BC PNP ENTREPRENEUR
Application type
Canadian Permanent Residency with the government of British Columbia
Eligible Countries
All
Timeline from application sent to PR status
3.5 years
Level of English/French required
Low-Intermediate, CLB 4
Level of Education
Preferably a Bachelor’s degree
Work Permit prior to PR
The BC PNP program is essentially a permanent residency program. However, prior to applying for PR, you and your family will be living in BC and you will have a work permit to operate and actively manage your business. After 18 months of operation, you will send a Final Report to prove that you have complied with all the requirements of the program and did your best effort to have a successful business with a positive contribution to the local economy, including minimum one new job creation. If the province is satisfied, it will issue a nomination for yourself and your family to apply for Canadian Permanent Residency.
Which business is eligible?
You have the choice of engaging in many different kinds of business projects for the BC PNP Entrepreneur program.
Here are three examples:
01. You can start your own new business, completely from scratch, based on your idea and resources.
02. You can purchase a business that already exists and invest in it to expand its operations and make it grow enough to justify a new job. Please note that the business must have had the same owner for at least the past 5 years.
03. You can buy a franchise. Especially if you are starting a new location for this franchise, this will be a clear indication to your contribution. Sometimes it can be difficult to have an expansion plan for franchises that are pre-owned due to the limited business concept of the franchise.
Whish business in NOT eligible?
Some businesses are not eligible for the BC PNP Entrepreneur program:
• businesses that are seasonal and operate less than 8 months per year.
• bed and breakfasts, hobby farms and home-based businesses
• payday loan, cheque cashing, money changing and cash machine businesses
• pawnbrokers
• tanning salons
• DVD rental stores
• coin-operated laundries
• automated car wash operations
• scrap metal recycling
• businesses selling used goods (excluding businesses that provide value-added services such as repairs, refurbishing or recycling)
• real estate brokerage, insurance brokerage or business brokerage
• real estate development activities
• goods trading businesses (e.g. import/export), unless value add is demonstrated
• businesses involved in producing, distributing or selling pornography or sexually explicit products or services, or providing sexually oriented services
• any other type of business that by association would tend to bring the BC PNP or the Government of British Columbia into disrepute
Program description
The province of British Columbia has a program for entrepreneurs who wish to start a new business or purchase and expand an existing business while creating a new job for a Canadian citizen or Permanent Resident. In return for their investment, the entrepreneur and his family can receive their Canadian permanent residency.
If you are interested in moving to Canada through the BC PNP Entrepreneur program and operating a business in this beautiful province, you must submit your business idea to the province together with your credentials. Application will be assessed under a point system considering the your professional profile and your business concept. Applications with the highest points will be invited to submit a complete and formal application to the PNP program. Once this application is approved, you will receive a work permit to start operating your business in Canada. After 18 months of operating your business, you will be able to apply for permanent residency, provided that you have respected the conditions of the program.
To participate in this program, you MUST be ready to ACTIVELY manage the business in BC. This includes living in BC for 75% of the time in the years managing your business prior to applying to permanent residency.
The program can be divided in these 4 main stages:
01
Submit the business concept
02
Submit the full application
03
Move to Canada with a work permit
04
Apply to PR after 18 months
Minimum requirements to be eligible for the program:
01
NET WORTH
• You must have a total net worth of minimum $600 000 CAD.
• You will need to hire a third party accounting firm to do an audit of your net worth.
02
INVESTMENT AMOUNT
You must be ready to invest $200 000 CAD in a business in BC.
03
EDUCATION
You must have either:
• A bachelor’s degree OR
• 3 years of business ownership experience in the last 5 years. 100% ownership.
04
You must have, in the last 10 years either:
• 3 years of business ownership and management. Minimum 10% ownership.
• 4 years of high-level management in a company with no ownership.
• 1 year of business ownership PLUS 2 years of high-level management with no ownership.
BUSINESS MANAGEMENT EXPERIENCE
05
LANGUAGE REQUIREMENT
Minimum level 4 in English or French.
• English test: IELTS General or CELPIP
• French test: TEF
How North Horizon Immigration will help you
Once you decided that you would like to participate in this program, the North Horizon Immigration team will assist you in preparing the most compelling application to properly describe your business concept and prepare a complete business plan for the BC PNP. We will assist you along the way to maximizes your chances of success in Canada.
The services we offer include:
Coach you on the BC PNP Interview (if you are requested to attend one)
Coach you on how to keep track of important administrative aspects of your project in Canada including: Bookkeeping - Tax obligations - Human Resources -
- Busines license registrations - Bank account opening
Connect you with a network of professionals required for your success such as: Accountants - Corporate lawyers - Marketing experts - Web designers
We will also review your family members’ immigration status to ensure they will also be involved during the process
Complete the work permit, student permit and visa applications for you and your family to travel to Canada and operate your business in BC
Assess your profile for eligibility in the program
Prepare the Business Concept and BC PNP application
Prepare the Business Plan for your project in Canada
Research your industry of choice in Canada to assess the contributions you will be making
Prepare a Business Exploratory Trip to Canada (when possible, after COVID19)
If you feel like this immigration program fits your lifestyle and career goals, we invite you to book a consultation with our regulated Canadian Immigration Consultant, Rita Benkhalti, and start your project today!