British Columbia is the third largest and westernmost province of Canada. It offers vast opportunities for immigration pathways under Provincial Nomination Program (PNP). It helps many entrepreneurs to enter into the country via BC PNP Entrepreneur Stream. Among them one such program is BC PNP’S EI Base Category. This EI (Entrepreneur Immigration) Base Category allows entrepreneurs having a strong intent to establish new business or buy an existing business in British Columbia by securing a minimum investment and initiate a path towards their PR journey.
WHO IS ELIGIBLE TO APPLY?
|ELIGIBILITY CATEGORIES||MINIMUM REQUIREMENTS|
|Experience||More than 3 years of experience as a business owner, or 4+ years of experience as senior manager or combined 1 year of experience as business owner & 2+ years of experience as senior manager|
|Net Worth||CAD 600,000|
|Education||Post-Secondary Certification (Degree, Diploma, Certificate) or at least 3 years of experience as business owner in last 5 years|
|Ownership Percentage %||At least one-third (33.33%)|
|Language Requirement||Basic of English or French proficiency with CLB 4|
|Hiring for Job||Must recruit at least one Canadian Citizen or Permanent residence for full-time equivalent job.|
You must meet these basic requirements to be eligible to apply under this program. Although being eligible does not assure you of any guaranteed approval to apply. It requires a complex investment so one should choose wisely the best suited program for their immigration goals.
HERE IS THE LIST OF MAJOR INDUSTRIES IDENTIFIED BY GOVERNMENT OF BC:
✧ Artificial Intelligence
✧ Fishery & Aquaculture
✧ Digital Marketing
✧ Film & Television
✧ Life Sciences
✧ Information Technology
✧ High technology
Entrepreneurs need to follow these steps to apply under Entrepreneur Immigration- Base Category Program.
- RESEARCH AND PREPARATION: Research about British Columbia as a province and check the basic living expenses and things you may require at the time of immigration. Learn about your business industry and evaluate potential productivity and opportunities there.
- REGISTRATION AT BC PNP: Create your profile to register at BC PNP through online portal. This registration details will include your education, experience, net worth, language abilities, finances and information about your proposed business model in British Columbia.
- APPLICATION TO THE BC PNP: After submission of your complete application, you will receive an email regarding the same. In some cases, you may also be invited for personal interview in Vancouver, B.C to discuss deeply more about your business proposal. Upon approval, you will have 4 months to complete your application after the time you receive your invitation. The BC will grant you a ‘Letter of Confirmation’ after that so you may apply for work permit to IRCC and can immigrate to B.C. to implement your business.
- BUSINESS PLAN IMPLEMENTATION: Within 12 months from the date of ‘Letter of Confirmation’ you must arrive in B.C. with a valid work permit. After landing, you can start with setting up your business, invest your funds and can create jobs. For this, you will approximately have 20 months to execute your business plan and satisfy the terms and agreements you signed for.
- NOMINATION: After submitting the final report to the BC PNP, they will evaluate your profile. If the BC PNP determines that you met all the required conditions according to your agreement, you will get nominated for the permanent residency.
- APPLYING FOR PR: Upon nomination, you along with your spouse and depending children can apply for Canada Permanent Residency under Provincial Nomination Program. If IRCC approves your application, you will be granted with Permanent Resident Visa of Canada. As IRCC is the final decision making authority. It can reject your application even after your nomination from BC PNP.
In order to qualify for Entrepreneur Immigration – Base Category, you must meet all the pre-requisite conditions including proposing an efficient Business model. To know more about what business qualifies as an eligible business under this program read the next blog.
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