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FAQs

FAQ: BCPNP Entrepreneur Immigration Stream

by Harleen Kaur November 7, 2022

Q1- Is living in BC mandatory while I wait for nomination?

Ans1- Yes. In order to be eligible to be considered for BC PNP nomination, you need to prove that you’ve lived within 50km from the company you run in BC. Additionally, you need to be able to prove that you have actively participated in day-today administration of your business and that you were actually present in BC. While being on work permit you should be available in BC for at-least 75% of the total times span.

Q2- what is considered as my net worth?

Ans2- Net worth includes all your financial assets, properties, company minus any liabilities or obligations or debts. It includes your spouse assets as well as your dependent children. For this program, you must have at least a net worth of CAD 600,000. You can provide following documents to evaluate your net worth:

funds and assets that are stored in bank accounts (e.g. savings and personal accounts)
Fixed (term) savings (redeemable/cashable in 12 month time)
Property ownership (e.g. real estate, personal or commercial property ownership)
Investments in stocks, bonds and mutual funds.
investment that are part of one or several business (current worth of share ownership in the business(es) not including shares in investment portfolios which are included in the these liquid assets above)
Pensions
Other assets include jewelry, collectables, and so on.

Q3- Do I need to provide the supporting documents for my wealth for net worth evaluation?

Ans3- Yes. Your net worth should be legally verified .You need to obtain the verification of net worth from a BC PNP-approved accounting firm. Failure to submit a satisfactory proof to verify your net worth and the source of your funds could result in the denial to your application.

Q4- After the final submission of my application on BC PNP, can I change my business model?

Ans4- No, you cannot change or modify your business concept after your registration on the BC PNP portal. You must keep your intend clear and defined before you file for your application.

Q5- Do I need to invest in an enterprise before I can submit my application to BC PNP Entrepreneur?

Ans5- No. If you plan to buy an established business it is necessary to mention the exact target business in your application and create an overall business plan for the business. Check that the current owner of the company has been in charge and is operating that business for at minimum 5 years.

Q6- Can I get cash from a lender/bank to invest in my company under BC PNP?

Ans6- It is a requirement of the BC PNP that you make the minimum personal investment with your own personal funds. You must provide documents that prove the source of the investment, and also show that this investment along with any future personal investment made within your business was made directly from personal savings. However, you can make use of financing provided by an associate or financial institution to invest above the minimum requirements.

Q7- Does buying a business before receiving an ITA increases my chance of approval under BC PNP?

Ans7- BC PNP strongly discourages applicants from taking any financial or investment commitment prior to signing a contract of performance with BC PNP and obtaining a valid work permit from the IRCC. Any investment that is made prior to obtaining approval and an approved work permit is entirely at risk.

Q8- can I have a partner in my business for this program?

Ans8- Yes. BC PNP allows immigrant entrepreneurs to be partners in their business idea. The general rule is that, in order to be eligible for the program, you have to show that you will be the owner of at minimum one-third (33.3%) of the company in BC. If your partner is not a Canadian permanent resident or citizen and plans to join you to join this program In this case, they must meet the conditions for the program, which includes the minimal requirements for investment.

Q9- I do not have a post-secondary education. Can I still apply for this program?

Ans9- If you don’t have an official post-secondary qualification (such as diploma, degree or certificate issued by a recognized post-secondary institution) You must prove that you’ve been an active business owner/manager and have full ownership of the company for at least 3 years over the past five years. The total ownership of the business could be divided among your spouse, you or your dependent children.

Q10- What should I do if I am not invited to apply for the BC PNP?

Ans10- Being a registered applicant who is qualified in the pool doesn’t mean that you’ll be accepted to apply. You may employ a variety of strategies to boost your score. You can do this by generating an innovative business idea and conducting further research on the business climate in BC or by enhancing your flexibility and then making a new application. You may also file an application under an entirely different category, but you have to cancel the current registration before taking the next step.

November 7, 2022 0 comment

FAQs LMIA

FAQ OF LABOUR MARKET IMPACT ASSESSMENT (LMIA)

by Harleen Kaur November 3, 2022

written by Harleen Kaur

Q1- WHAT IS LMIA?

Ans1- LMIA is short for labour market impact assessment. It is a type of document which an employer receives from ESDC – Economic and Social Development Canada, if they are intending to hire an international employee for a job position in their venture.

Q2- WHAT DOES A POSITIVE LMIA MEAN?

Ans2- A positive LMIA means that there is a genuine need for a foreign worker and there is no qualified Canadian citizen or permanent resident which is best suited for that job post.

Q3-WHO NEEDS LMIA?

Ans3- An employers who is looking to recruit a foreign worker needs to obtain a pre-approved LMIA document from government as a permission to hire that worker before he/she applies for a work permit.

Q4- WHY DO I HAVE TO GET A NEW LMIA IF I JUST GOT IT ONE YEAR AGO?

Ans4- Labour Market Impact Assessment (LMIA) is valid for a limited period of time. There is no such provision by the Canadian government to extend the duration of LMIA. The employer needs to obtain a new LMIA if they are willing to keep that worker for a longer period of time provided that there is still no Canadian citizen or permanent resident who can fulfil the requirements of the job.

Q5- Who is eligible for LMIA?

Ans5 – Almost every Canadian employer is eligible get a LMIA. But there are certain basic requirements which you need to meet if you are an employer:

You must have a legitimate business.
You must be capable enough to remunerate your employees.
There is a real need for an international worker.
You are capable and willing to take care of housing and basic needs of that foreign worker.

Q6- WHO WILL PAY THE FEES OF LMIA?

Ans6- Employers has to pay the LMIA fees to ESDC. In some cases, they also tend to cover the costing of getting a work permit for their foreign worker.

Q7-HOW MANY POINTS I GET FOR LMIA UNDER EXPRESS ENTRY PROGRAM?

Ans7- After obtaining a successful LMIA from employer, a worker may be granted with 50 or 200 points under Comprehensive Ranking System (CRS) depending on the specific designation.

Q8- CAN I GET PR WITH LMIA?

Ans8- After completion of working for 12 months in Canada, you will be granted with 50 or 200 points which will enhance your CRS score. You can either apply under FWSP (Federal Skilled Worker Program), FSTP (Federal Skilled Trades Program) or CEC (Canadian Experience Class) of express entry program for permanent residency status.

Q9- DOES ENTREPRENEUR ALSO NEED LABOUR MARKET IMPACT ASSESSMENT?

Ans9- No. An entrepreneur can get a work permit to work in Canada without a LMIA. They can apply for work permit under different business visa programs in Canada proving that they are willing to do business or buy business in one of the Canada’s province.

Q10- HOW MANY LMIA’S CAN AN EMPLOYER GET?

Ans10- There is no perfect and accurate answer to this question. This depends on many factors. In some cases it is possible to get as many LMIA’s as employer wants. Due to fewer positions for skilled workers there is a limit for a low- skilled worker which a particular business can employ. Additionally there could be some restrictions because of regional unemployment levels.

Q11- CAN AN EMPLOYER TERMINATE A FOREIGN WORKER IF THEY ARE NOT WORKING?

Ans11- If an employer feels that the foreign worker is not an ideal fit for the job; they can dismiss that employee anytime in accordance with the laws of labour of that province. This will be employer duty to ensure that they notify the Service Canada of the date the foreign worker is no longer employed by them.

Q12-CAN AN INTERNATIONAL WORKER BE PROMOTED?

Ans12- No. The employer cannot promote the foreign worker using the same LMIA. When a LMIA is issued by ESDC, the work permit the receive has all the information provided like employer name, job position and the location of the work. If an employer wants to promote their foreign worker, they first need to get a new LMIA from ESDC with updated changes. Again, the employer need to provide sufficient proof that there were none qualified Canadian citizen best suited for that role.

November 3, 2022 0 comment

FAQs Startup Visa

FREQUENTLY ASKED QUESTIONS ABOUT START-UP VISA

by Harleen Kaur November 3, 2022

written by Harleen Kaur

Q1- How can I get support from a designated organization?

Ans- Firstly, you need to contact some of the designated organizations. You need to convince them that your business idea is worth investing / supporting. Some of them may ask you to submit a detailed Business model or present it in person. If they grant you the ‘Letter Of Support’ & ‘Commitment Certificate’, you need to submit these documents along with your application.

Q2- What is the difference between venture capital funds, angel investor groups, or business incubators?

Ans- Both the Venture Capital funds and Angle Investor Groups provides you the support in term of investment. If the support comes from the Venture capital funds, you need assure the minimum investment of CAD 2, 00,000 and if the investment is made by Angle investor group, you have to get a minimum investment of CAD 75,000.

But to acquire the support from the Business Incubators, you don’t need to secure a financial commitment. You just need to get acceptance from any Canadian Business Incubator Program.

Q3- What if my business fails after I immigrate to Canada with a Start-up Visa?

Ans- You need not worry if your business fails to success. Canadian authorities realize that there is always a risk and that there is no guarantee that every business will be successful.Although your status of permanent residency is not affected.

Q4- Do I need any capital investment if I apply through Start-Up Visa program ?

Ans – No, you’re not obliged to invest from your own funds. The minimum amount of investment that you need to secure will be the investment that comes from a designated Canadian Venture capital funds or Angle investor groups .

In case of support from Business incubators, there is no requirement of investment.

Q5 – Who will review my SUV application?

Ans– The first authority to review your application is the one from whom you seek your support i.e. from any one of the Designated Organizations. After that your application is evaluated by the IRCC (Immigration, Refugees and Citizenship Canada). In some cases your application may be based on Peer review process. This is done to avoid the fraudulent activities to ensure that your business is legal and the designated company’s standards are in accordance with other standards in the industry for this kind of support.

Q6 – Who is the essential person under Start-Up Visa program ?

Ans- An essential person is the one who is critical to the company meaning he will be key to success. A person will be identified as essential by the designated organizations on letter of support or on the commitment certificate.

Q7 – What happens if I receive investment support from more than one designated organization?

Ans- Receiving a support from more than one organization is termed as ‘syndication’. In such case your syndicated supports need to get identified and you will receive only one letter of support and commitment Certificate.

Q8 – What is the living expense in Canada ?

Ans- Your living cost will completely depend on how many dependents will be travelling with you . At times, the designated organizations may sanction you with additional money to support your living expenses. NOTE : you cannot use your investment money for your living expenses.

Q9 – Is there any application form to be filled to get support from a designated organizations?

Ans- No, there is any no form you need to fill to get support from the designated organizations. All you need to make sure is your business idea is worth convincing to obtain support from the investors.

Q10 – Can I immigrate to Canada together with the team of entrepreneurs?

Ans– Yes. Up to 5 people are able to apply for the Start-up Visa Program as owners of a single enterprise.

After reviewing your proposal, the designated organization will determine the person who is crucial or not to the company. Essential people are crucial to the start-up you are planning to launch. In the absence of this particular person, the company would not be able to invest in or approve the plan.

If the authority deny the application of a person who is essential, all applicants related to him are also rejected.

November 3, 2022 0 comment