British Columbia Entrepreneur Immigration
Business in the province of British Columbia can become the basis for obtaining permanent residence in Canada. However, the fact of opening or acquiring a company does not guarantee that you may get the status. The applicants have a long way to go, and it all starts with online registration and presentation of their business idea. The provincial government selects the best projects several times a year. Preference is given to the companies that can bring the greatest contribution to the economy and create new job positions. They also pay attention to the experience and education of the candidates. Businessmen and their closest relatives will be able to become permanent residents of Canada only after a few years, if they and the company fulfill all the conditions proposed by the program.
Program's details
- Permanent residence permit if the program conditions are met
- CAD 200 thousand ($ 150 thousand) minimum investment
- CAD 600 thousand ($ 450 thousand) minimum equity
- Job positions for Canadians in the declared business
- Not all spheres of business there are restrictions
- Together with family spouses and children under 22 years old
- Citizenship after 1095 days of residence in the country
- Visa-free entry to Canada and 20+ countries of the world
The official website of the program
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About the Program
British Columbia is a province in western Canada, it invites entrepreneurs with promising business ideas. The province has several programs for providing permanent residence to foreigners who are of interest to it (British Columbia Provincial Nominee Programs). They are governed by the British Columbia Act 2017.
Business-based immigration is separated into a separate "stream". A multi-stage selection of candidates takes place within this type of migration . Only those applicants will be able to become residents, who get into the list of the best, and then go through all the formalities and build a sustainable business in the country.
The first and main condition of the program is to offer an interesting idea to the selection committee. This usually happens during the online registration stage. A number of requirements are imposed on candidates and their projects: to have an experience of owning or managing a company, having a reasonable personal capital of at least CAD 600 thousand, investing of at least CAD 200 thousand, creating new job positions. Subject to these conditions, the applicant will be evaluated in points. No more than 200 applications are considered per month, and the provided information is valid for six months: if the application was not considered within this period, it can be submitted again.
The commission selects the candidates with the highest ratings - they can start or buy their own business in Canada. It will be possible to come to the country with a temporary work permit. Before the owner receives permanent residence permit, the work of the company will be regularly checked. If the business meets the parameters specified in the application, and the applicant and his family meet all the program requirements, they will receive a nomination certificate from the province. After that, there will be a final check - at the Federal Immigration Service of Canada. If this check is successful, the applicant and his family will receive Canada permanent resident status.
Investment conditions
- $150 000 +
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Investment conditions
CAD 200 thousand ($150,000)
- $450 000 +
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Personal capital
CAD 600 thousand ($450,000)
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Requirements
To the applicant:
- Personal capital of at least CAD 600 thousand (together with a spouse and children, in various assets). The amount and legality of the purchase must be verified by a British Columbia certified law firm.
- Successful experience of owning and / or managing a business: from three years for owners and from four years for top managers of companies over the last ten years.
- The right to legal immigration status in Canada.
- Knowledge of English and / or French at a level not lower than CLB 4 (at the nomination stage).
- Legal residence permit in the country of current permanent residence.
Please note!The applicant must settle at a distance of no more than 100 km from the location of the company and spend at least 75% of the time in the province before receiving permanent residence.
To the business:
- Creating a new business or buying and improving an existing one.
- Investment of at least CAD 200 thousand. It should be made within 20 months upon the investor's arrival to the province with a work permit.
- Creating at least one new permanent job position for Canadian citizens and permanent residents within 14 months upon arrival.
Types of business without the right for obtaining permanent residence permit
- Investment immigration schemes or any other business related to facilitating immigration by investment
- Bed and breakfast accommodation, hobby farms and work from home
- Payday loans, check cashing, money exchange and ATM related business
- Pawnshops
- Solariums
- DVD distribution
- Laundromats
- Automated car washes
- Recycling of scrap metal
- Sale of second-hand goods (unless the company provides additional services such as repair, refurbishment or recycling)
- Brokerage in real estate, insurance or business
- Development activity
- Trade (e.g. import / export) that does not create added value
- Erotica, pornography, sexual services
- Any other type of business that discredits the program or government of British Columbia
Regulated industries
In addition, in some spheres, companies are subject to strong regulations at the national, provincial or municipal level. It is forbidden to work without complying with them. Therefore, although formally the candidate can submit an application for the creation or purchase of a business in these areas, he must confirm the ability to comply with all the rules.
Examples of highly regulated industries
- Agriculture
- Production, distribution or retail sale of cannabis, tobacco and alcohol
- Kindergartens, schools and other educational institutions
- Financial services and trade
- Forestry and mining
- Healthcare and biology
- Oil and gas
- Passenger Transportation
- Pharmacology
- Nursing home
- Telecommunications
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Documents
Personal capital
- Certificate of Inspection by a British Columbia Authorized Company
- Statements from all bank accounts of the applicant and his spouse for the last two years
Personal
- Passports of the applicant and all family members applying for permanent residence
- Marriage (divorce) certificate
- Birth certificates for all children
- Applicant's education certificates
- Proof of ownership or management of a business within the last ten years (incorporation documents, tax certificates, letters of recommendation, stock ownership certificates, company organizational chart, photos of the product, promotional materials, business cards, etc.)
- Language test results (if any)
- Confirmation of the study visits to British Columbia (if any)
- Documents confirming previous experience of staying in Canada for the purposes of work, study or business (if any)
For the company
- Business plan
- Supporting documents for the business plan (for franchises, agricultural companies, partnerships with local businessmen)
Additional expenses
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Administrative fees
Registration: CAD 300
Application form: CAD 3500
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Legal expenses
$1,000-20,000 for assistance in preparing documents, drawing up a business plan and project support, depending on the scope of services and prices of a particular company
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Rights and obligations
Permanent residents have the right to:
- receive most of the same social benefits as Canadian citizens, including health insurance;
- live, work or study in Canada;
- apply for Canadian citizenship
They are obliged to:
- pay taxes;
- comply with all Canadian laws at the federal, provincial and municipal levels.
Permanent residents do not have the right to:
- vote or run for political office;
- occupy some jobs that require a high level of safety.
- To maintain permanent resident status, you must have stayed in Canada for at least 730 days in total over the past five years.
The procedure for obtaining
