What is BC PNP Entrepreneur Immigration and its Requirements?

Being the third most populated area of Canada, British Columbia has a multicultural workforce that is knowledgeable, profoundly gifted and beneficial and the region has a key area with competitive taxes. Region of British Columbia is one of the most powerful places to work together and presents remarkable chances for the experienced businessmen and entrepreneurs hoping to run their very own business in the area.

British Columbia Provincial Nominee Program gives an immigration path to the settlers with the required ranges of abilities and capacity to move to the region and live as permanent residents. Following are the sub-classes under BC PNP that enables them to assign the settlers for permanent residency:

  • BC PNP – Skills Immigration
  • BC PNP – Express Entry BC
  • BC PNP – Entrepreneur Immigration

For the seasoned business people who need to put resources into and maintain an economically reasonable business in the territory, they are given the immigration pathway through BC PNP – Entrepreneur Immigration subcategory. Effective candidates will be given a work permit and, if the business they run can meet the terms and conditions of the territory, at that point they will probably apply for permanent residence in Canada through BC PNP.

What is BC PNP entrepreneur immigration?

As examined above, BC Entrepreneur Immigration stream gives a pathway to the Canadian permanent residency for experienced business visionaries and specialists who need to live in the area of British Columbia and contribute and operate a business that will almost certainly furnish with noteworthy advantages to the economy of the region.

Minimum requirements to apply

  • Candidate must demonstrate total assets of a minimum of $600,000 CAD that incorporates cash, fixed deposits, investments, assets in a bank account, and so on. Total assets demonstrated must be verifiable and must be acquired lawfully and can be under the spouse or common-law partner’s name.
  • Post-secondary certification or experience as a functioning business owner-manager with 100% ownership of the business for a minimum of 3 in the previous 5 years.
  • Must have eligible experience as a functioning business owner/manager and/or senior manager
  • Have to present a business idea that demonstrates an active and ongoing management role for everyday activities of the proposed business and must almost certainly make one new job vacancy
  • Personal Investment of CAD $200,000 CAD for eligible expenses. If proposing key staff member, investment necessity increments to $400,000 CAD and the job made to three.

Entrepreneur Immigration stream necessities for applicants

For a candidate to be qualified, they must:

  • Been legally admitted in their present dwelling nation.
  • Have at least total assets of $600,000 CAD. This fund must be gotten legitimately and when required, it can be verified easily.
  • Have at least 3 years as a functioning business owner-manager or at least 4 years as a senior manager or a combo of a minimum of 1 year of experience as a functioning business owner-manager and a minimum of 2 years of experience as a senior manager (during the past ten years)
  • Have a post-secondary certification or experience as a functioning business owner-manager with 100% ownership of business a minimum of 3 of the previous 5 years. Percentage of business ownership can be shared between the applicant, spouse/common-law partner, and/or his or her dependent children.
  • Demonstrate details regarding the business idea explicit to the proposition.
  • Be ready to demonstrate a qualified personal investment of at least $200,000 CAD in the proposed business in 610 days for example around 20 months of arriving in the area on BC PNP work permit.
  • Show that the proposed business will most likely make at least one permanent new full-time equivalent job for a Canadian native or permanent resident in 365 days from the arrival date.

Business concept

For enlistment under BC PNP entrepreneur immigration stream, applicants are required to incorporate a short business idea which will be given points that depend on proposed commercial viability, transferability of the candidate’s skills, and financial advantages. When the candidate is invited to apply, they should present a thorough business plan.

For a qualified business, the candidate must demonstrate that proposed business (established or bought) will probably add to the monetary development of the business. Likewise, they need to demonstrate that the competitor possesses a minimum of one-third of the proposed business.

If the applicants don't possess 33.33%, at that point they need to invest a minimum of $1,000,000 CAD in equity purchase. BC PNP will possibly consider a proposition for a seasonal business when the business works for at least eight months every year as well as can meet all other qualification prerequisites for the stream.

Requirements for Key Staff member

  • Must have worked with the candidate in a senior position for at least one year out of previous 3 years, and have a critical skill set for the proposed business.
  • Must fill a vocation that is ordered under National Occupational Classification (NOC) expertise level type 0 or level A
  • Must have at least two years of post-secondary education
  • Must earn a wage that is equivalent to or more than the median for that occupation in the area of British Columbia

Job creation prerequisite

An applicant needs to demonstrate that the proposed business will probably make at least one new permanent, as well as full-time equivalent job for a Canadian native or permanent resident in 365 days of landing in the area. For the candidate who is proposing a key staff member, they need to demonstrate that they will make at least three full-time equivalents (FTE) workers. The submitted business idea can get the applicant points awarded if positions made are classified under NOC expertise levels 0, A or B.

Points system

BC PNP Entrepreneur Immigration points depend on two variables:

  • Self-declared
  • Business Concept

The maximum points that can be got are 200 points.

Application process

Candidates who can meet the base necessities are not ensured that they will be welcome to present their complete application.

When a candidate is invited, they have to present their application in 120 days from the date of invitation to submit their application. At this stage, the candidate needs to pay $3,500 CAD non-refundable handling charges to the territory and present a complete application. This application expense incorporates the candidate's spouse, common-law partner and/or dependent children.

Now and again, BC PNP can invite the applicant to attend an in-person interview at the BC PNP office. The meeting will be taken in the English language as it were. This is to ensure that the candidate is capable of conveying to BC PNP program staff.

After the application is affirmed, the candidate will be required to consent to a Business Performance Agreement (BPA). This BPA comprises of all the terms as well as conditions that the applicant needs to satisfy.

At the point when an applicant can meet prerequisites of BPA in 20 months, they are nominated for permanent residency by BC PNP. Candidate with their needy relative at that point can apply for Canada PR visa to IRCC under BC PNP.

On completing the terms of BPA, the applicant is required to present a report that must show that the person in question

  • Is actively managing a business in the territory
  • Resides inside 100 kilometers of the business
  • Has been physically present in the territory for at least75% of the time they had the work permit
  • Has agreed to some other terms of BPA
  • The following candidate will not be nominated by the territory of British Columbia if the person
  • Is denied from entering Canada
  • Has not been legally admitted to the nation of current residence
  • Is in Canada and is out of status
  • Has a terminated status, and who have not applied for reclamation of status in 90 days of the eligibility period, will be considered out of status
  • Is working in a nation without authorization
  • Has an unresolved refugee claim in Canada
  • Is under a removal order in or out of Canada
  • Are in the nation and don't have legitimate immigration status, or in case working without approval

The ITA

Meeting the base qualification prerequisites does not ensure that a candidate will be invited to present a complete application.

In case a candidate is invited to apply, the individual in question will get an email notification and will have as long as 120 days (around four months) from the date of invitation to submit a complete application.

At this stage, the candidate must pay a $3,500 CAD non-refundable handling expense to the region and present a total application package. A candidate's spouse, common-law partner and/or dependent children are incorporated into the application charge.

The BC PNP may invite the candidate to go to an in-person interview at the BC PNP office in Vancouver. Meetings are directed in English as they were. On the off chance that a candidate can't communicate in English, the individual in question must get the administrations of an affirmed court translator. This is to guarantee the candidate will most likely and will be able to obviously communicate to BC PNP program staff.

In case an application is affirmed, the BC PNP will expect candidates to consent to a Performance Agreement. Inability to meet the Performance Agreement expectations may outcome in the loss of the nomination.

Candidates who are invited to apply should engage a qualified supplier to check their own total assets as well as accumulation of funds as a feature of the nomination procedure.

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