British Columbia Introduces Online Registration System For Entrepreneur Stream

the CanadaVisa Team - 13 July, 2015

The province of British Columbia has introduced a mandatory online registration system for all prospective applicants to the Entrepreneur Immigration stream of the BC Provincial Nominee Program (BC PNP). A maximum of 200 registrations may be accepted per month, and the BC PNP will periodically invite the highest-scoring registrants to submit applications.

Successful applicants will obtain a work permit and, if the business operation in British Columbia fulfills the requirements of the stream on an ongoing basis, they will be able to apply for permanent residence in Canada through the BC PNP.

Entrepreneur Immigration Requirements

General Nomination Requirements:

• active and ongoing management of the day-to-day business operations;
• demonstrated residence in B.C (once the application has been approved); and
• admissibility to Canada.

Personal Requirements:

• personal net worth of at least $600,000; and
• business and/or management experience.

Business requirements:

• establish a new business or purchase and improve an existing business.

Investment requirements:

• make an eligible personal investment of at least $200,000 in the business.

Job requirements:

• create at least one new full-time job for a Canadian citizen or permanent resident in the business.

An Entrepreneur Immigration Registration is not an application to the Entrepreneur Immigration stream or a guarantee that a candidate will be invited to apply.

If a candidate is invited to apply, he or she will have four months to submit a complete application. If the application is approved, he or she will sign a Performance Agreement and will have up to 20 months to implement a business proposal in B.C.

If the individual meets the requirements of the Performance Agreement within the 20 months, the BC PNP will nominate him or her for permanent residence. He or she, along with his or her dependent family members can then apply for permanent residence under the BC PNP with Citizenship and Immigration Canada.