The British Columbia Investor Program gives an opportunity for Business individuals and families to migrate to British Columbia province and operate their own business. The BC Entrepreneur Program is a part of the British Columbia Provincial Nominee Program (BCPNP) and is the best fit for experienced and financially-stable business owners and business managers who want to contribute to the economy’s nation by starting a new business or expanding an existing business in Canada.
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The main objective to introduce this program is to escalate the economic growth of the province and at the same time, create job opportunities in BC for permanent residents/citizens. Once the applicant receives invitation to participate in the program, he/she gets a two-year work permit. During this two-year work permit, the applicant (entrepreneur) has to manage and operate his/her business for a minimum of 18 months. Once an applicant meets all BC business immigration requirements, he/she gets the provincial nomination, allowing him/her to be eligible for permanent residence in Canada.
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The main aim of this program is to motivate the province’s economic growth and also to create jobs in British Columbia. This stream opens a pathway to permanent residence for business people who are economically and financially strong to establish themselves in British Columbia by investing in and operating a business that could be beneficial to the province.
To be considered for Business Immigration, the applicant has to meet a set of requirements. He/she must –
an applicant has to meet the eligibility criteria, if he/she is unable to meet any of the following requirements, the BC PNP will not invite the applicant to apply for the Investor Program. If the applicant’s spouse and dependent family members are also seeking the Entrepreneur Immigration Program, they have to meet the eligibility requirements as well. In a few instances, an applicant can acquire a Work visa for a Key staff member.
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To be eligible to apply for this visa program, an applicant must have a personal net worth of at least CAD $600,000. The applicant must ensure that all the assets are legally acquired and must be owned by him/her or his/her spouse. If an applicant has the desire to invest in a small community in BC, he/she can qualify with a net worth of only CAD $300,000. In case, if any kind of fraud is suspected in the BC PNP Investor application, the applicant will be considered ineligible and therefore, unable to apply for the program.
2. Business Management Experience
Applicant has to meet one of the below-given requirements to be eligible to apply for BC PNP Investor Program:
3) Job Creation
The applicant has to create at least one new employment for a Canadian citizen or permanent resident in 20 months of his/her arrival in BC and it increases for three new job opportunities if the applicant’s proposal to add a key Staff member is approved. Being part of the Canada investment Immigration program, creating jobs is one of the conditions that need to be met by an applicant for being nominated for permanent residence.
Read more : Steps to apply for Canada Provincial Nominee Program (PNP)
The applicant has to create a profile to get registered. The applicant has to provide personal information including email ID, residential address, phone number, passport information, and security questions.
2. Submit the Registration
Once the profile is created, it will be submitted and score will be provided by the BCPNP on the information that have been mentioned. If the applicant meets the minimum eligibility score, he/she will have to pay the amount of $300 non-refundable registration fee.
3. Invitation to Apply
Once the file is submitted and has entered the qualified pool, the applicant’s final score will be ranked along with other applicants in the Entrepreneur Immigration-base category. The score is given on the basis of Business concept, Job Creation, and Business or work experience.
you receive invitation to apply under the EI-base category, you will get an email including instructions on to complete an EI-base category application, a list of authorized accounting firms for your net worth verification, and the timeline for application submission. You will be given up to 120 days to submit an application.
4. Submitting your application
The applicant has to submit a complete application that includes verification report of the net worth, supporting documents, and a comprehensive business plan in 120 days.
5. Application Processing fee
The applicant has to pay a $3,500 non-refundable processing time. Also, extra $1,000 non-refundable processing fee if you’re proposing a BC PNP key staff applicant.
6. Interview and Performance Agreement
BC PNP may ask the applicant to attend an in-person interview at the BC PNP office in Vancouver. If the application is approved, he/she has to sign a Performance Agreement with the British Columbia province.
7. Arrival
After signing Performance Agreement, the applicant has to arrive in B.C. with a valid work permit in 12 months from the date of letter of confirmation. The applicant has to submit an Arrival Report to the BC PNP within 60 days of arriving in the province with the valid work permit.
8. Final Report
The applicant has to submit a final report to the BC PNP between 550 to 610 days after the issuance day of your valid work permit.
9. Nomination
will issue a confirmation of nomination as a provincial nominee if you are nominated. The nomination allows you and your family members to apply for permanent residence to IRCC. The Confirmation of nomination is valid for 180 days, therefore, you have to apply for permanent residence before its expiry date.
Applicant has to pay $300 at the time of registration and the application fee is $3,500. If the main applicant wants to add a key staff member in BC Immigration application, $1,000 additional amount should be paid.
For availing more information about British Columbia Investor Program, call us at +919625212959 or send your queries at info@makevisas.com.