Entrepreneurs wishing to invest in new business in British Columbia can immigrate to Canada through the provincial program for businessmen.
The process of business immigration for entrepreneurs is divided into two phases:
- The applicant signs a Performance Agreement and gets a work visa for 2 years.
- The applicant arrives in Canada with a work visa, creates a business, starts actively participating in its management, creates workplaces, and fulfills other contract clauses. After that, he gets a nomination to receive a permanent residence status.
Under this category, the applicant needs to invest in a new business or acquire an existing business anywhere in British Columbia.
To be able to immigrate under the Entrepreneur Immigration — Base Category, the applicant should:
- Have at least C$600,000 of net worth
- Be ready to invest in a business a minimum of C$200,000 (or C$400,000 if the applicant is proposing a key staff member)
- Create at least 1 full-time job for a citizen or permanent resident of Canada
- Have at least 3 years of experience as a business owner-manager or 4 years of experience as a senior manager or a combination of 1 year as a business owner-manager and 2 years as a senior manager
- Have obtained a post-secondary diploma, degree or certificate, or have experience as an active business owner-manager for at least 3 of the last 5 years with 100% ownership in the business
- Pay C$3,500 for application, C$300 for registration, and C$1,000 for key staff application
The following types of businesses are not eligible under the Entrepreneur Immigration — Base Category:
- immigration-linked investment schemes and passive investment pursuant to Refugee Protection Regulations (IRPR)
- Bed and breakfasts, hobby farms and home-based businesses
- Payday loan, cheque cashing, money changing and cash machine businesses
- Tanning salons
- DVD rental stores
- Coin-operated laundries
- Automated car wash operations
- Scrap metal recycling
- Businesses selling used goods (excluding repairs, refurbishing or recycling)
- Real estate development or brokerage, insurance brokerage or business brokerage
- Businesses involved in producing, distributing or selling pornography or sexually explicit products or services, or providing sexually oriented services
- Any other type of business that would bring the BC PNP or the Government of British Columbia into disrepute
The applicant must own at least 33.33% of the business in which he invests.
Find out about other BCINP streams in the article “Immigration to British Columbia”.