The BC Provincial Nominee Program (BC PNP) selects potential business immigrants for settlement here in British Columbia. Under the BC PNP, an individual must have at least a net worth of CAD$600,000 and be prepared to invest in a potential business in BC in the amount of $200,000.
Examples of businesses which add significant economic benefit are those which are:
- adopting new technology
- developing new products and services
- developing innovative approaches to traditional businesses
- increasing exports
- increasing “destination tourism”
- “destination tourism” refers to businesses that target tourists directly where its business is primarily focused on tourist attraction rather than the potential spin-off activities from the tourism industry
- increasing research and development, and technology commercialization
- providing products or services to an under-served local or regional market
- transferring technology and specialized knowledge to B.C.
- establishing a brand-name franchise
The applicable minimum personal investment can be applied to the following types of business costs, provided they are reasonable for the business:
- Machinery, equipment, furniture and fixtures
- Leasehold improvements
- Patents and licenses
- Franchise purchase fees
- Allowable real estate and franchises
- Initial promotion and marketing
- Start up expenses such as permit fees, legal and professional fees
Approximately four months after being invited to apply, you may be required to attend a personal interview at the Vancouver BC PNP offices to discuss your business plan and investment. Following the interview, you will enter into a formal Performance Agreement with the Province describing your investment and employment goals over the course of the next two years and you will be issued a letter authorizing you to apply for a work permit to enter Canada and establish the business.
Once the conditions of the Performance Agreement have been met within twenty months (although you could conceivably meet the conditions within only several months), you will be nominated for permanent residence by the BC PNP and your permanent residence application may be submitted for processing to a Canadian visa office abroad. Finalization of your permanent residence application will take another 10 to 14 months after submission to the visa office.
BC PNP Business Immigration Point Assessment
If you wish to determine whether you have enough points to invest in and actively manage business in B.C., please fill out the form below and submit it for a free assessment.