BCPNP Entrepreneur immigration is among the most effective program to migrate to Canada especially for business owners or entrepreneurs. It allows them to either start their business or buy an existing business in British Columbia. In the previous blog we have already discussed about what is EI-Base Category program, its basic requirements and its application process. In this guide you will learn more about what business concept qualifies under this program.
ELIGIBLE BUSINESSES FOR BCPNP-BASE CATEGORY PROGRAM
Upon receiving your invitation to submit an application from BCPNP, you need to also submit comprehensive business plan comprising all the details about the proposed business model, executive summary, financial forecast, potential revenue, etc. BCPNP will only consider your business model if it makes any significant impact on the economy growth.
Once you submit your final application to the BC PNP, you cannot make any amendments to it.
CATEGORIES OF ELIGIBLE BUSINESSES:
⮞ NEW OR EXISTING ENTERPRISE: Any business which is well established in British Columbia and will be supporting the economic growth is selected as an eligible business by BC PNP where one can invest their money. It should be creating at least one job position for any Canadian citizen or Permanent Resident.
⮞ FRANCHISE: BC PNP considers franchises as a legitimate business only if the candidate can illustrate that the proposed franchise is successfully working and making significant impact on the economy and It should also be operational from last 5 years. If you’re invited to apply, you must also provide a proof of support from franchisor to acquire and run a franchise. You must obtain a Disclosure Document if you are planning to establish a new franchise location or buy an existing franchise.
⮞ AGRICULTURAL BUSINESS: If you are planning to set up an agricultural business or a new farm or acquiring an existing one, your business model should meet all the pre-requisite conditions attached to it. You should also demonstrate that you have done complete research of your farming business and you are in contact with local vendors who will be providing support in your venture. For more information refer to :
⮞ SEASONAL BUSINESS: It is important to note that the BC PNP will not consider any application for the proposal of a seasonal venture unless you are able to prove that you will maintain your physical presence within British Columbia and will perform an active management position all year round.
CATEGORIES OF INELIGIBLE BUSINESSES:
The following is the list of Ineligible business as categorized under BC PNP:
- An immigration-linked investment scheme pursuant to Provincial Immigration Programs Regulation section 6(e) and the Immigration and Refugee Protection Regulations (IRPR) section 87(5)(b) and as defined in IRPR 87(9)
- Any business where the terms of investment include a redemption option pursuant to IRPR 87(6)(d)
- Any business that may be a passive investment pursuant to IRPR 87(6)(c)
- Bed and breakfasts, hobby farms and home-based businesses
- Payday loan, cheque cashing, money changing and cash machine businesses
- 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.