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”.