British Columbia Provincial Nominee Program

One of the examples of Provincial Nominee Program could be Immigration to British Columbia. Business Investment category of the BC PNP has been increasingly attractive to business immigrants from all around the world. British Columbia offers accelerated immigration for investment-ready and qualified entrepreneurs ready to invest and settle in BC. The BC PNP nominates for permanent residence potential immigrants who have the ability to establish themselves successfully in BC and develop and actively manage a business that will provide significant economic benefits to the province. British Columbia Business Investment category includes 3 following programs: Regional Business, Business Skill, and Strategic Project. 

 

Applicant for nomination in the Regional Business program will be required to:

  • Make a personal investment of at least $200,000 CAD to establish or to purchase and expand an eligible business (see below) anywhere in BC outside of the Vancouver metropolitan area and the Abbotsford metropolitan area.
  • Create at least one new job in the business for a Canadian or permanent resident, except when the applicant is applying as a regional Succession Plan Buy-out.
  • Own at least one third (33 1/3%) of the equity of the business.
  • Provide active and on-going participation in the day-to-day management and direction of the business.
  • Demonstrate that they have: the skills and experience necessary to establish and operate a commercially viable business in BC; a personal net worth of at ¬†least $400,000 CAD obtained from legal sources; sufficient unencumbered personal funds to make the required investment a viable business proposal.
  • Sign a Performance Agreement with the Province of British Columbia.
  • Sign a Deposit Agreement with the Province of British Columbia if they are seeking a Fast Track nomination.

The Fast Track option offers immediate nomination for permanent residence, in return for which you will make a conditionally refundable $125,000 CAD deposit with the Province of British Columbia. The deposit will be refunded (without interest) when you have met the terms of conditions of your Performance Agreement and Deposit Agreement.

The BC PNP will only consider applications to establish or purchase and expand an
Eligible business that meet the following eligibility criteria:

  1. The business must be operated for the primary purpose of earning profits from active income through the provision of products and/or services.
  2. The business must have good potential for sustained commercial viability.
  3. The business must have the potential to create significant economic benefits for British Columbia. For example, the benefits may contribute to:
    • increasing value-added manufacturing, processing or primary resource activity
    • increasing exports of goods or services
    • increasing destination tourism
    • increasing R&D/technology commercialization
    • developing innovative and creative approaches to traditional businesses
    • transferring technology, skills and specialized know-how to the province
    • servicing an underserved local or regional market
    • succession plan buy-outs where eligible businesses are purchased from retiring owners

Business Succession Plan Buy-out

Business Skills applicants who commit to purchase an existing business will have their stipulated job creation requirements reduced by one job for each existing job that is to be maintained for Canadian citizens or permanent residents. These applications will receive priority processing. In addition to meeting the requirements for the business skills category, the following additional requirements must be met.

The target business must:

  • be located outside of the Vancouver metropolitan area and the Abbotsford metropolitan area.
  • be operated by the same owner for a minimum of 5 years
  • have employees, other than family members
  • be actively in operation.

 

The applicant must:

  • complete an exploratory visit to meet the retiring owners and, where feasible, the local Economic Development Office
  • operate the business for a minimum of one full year prior to being considered for nomination (or deposit refund, in the case of Fast Track nominees), with long term intentions of continuing to operate the business
  • have succession plan buy-out transaction to result in a complete change of ownership whereby the purchaser(s) take full control of the business.

Applicant for nomination in this program will be required to:

  • Make a personal investment of at least $400,000 CAD to establish or to purchase and expand an eligible business
  • Create at least three new jobs in the business for Canadians or permanent residents, except when the applicant is applying as a regional Succession Plan Buy-out which reduces this requirement by one job for each existing job to be maintained.
  • Own at least one third (33 1/3%) of the equity of the business.
  • Provide active and on-going participation in the day to day management and direction of the business.
  • Demonstrate that they have: the skills and experience necessary to establish and operate a commercially viable business in BC, a personal net worth of at least $800,000 CAD obtained from legal sources, sufficient unencumbered personal funds to make the required investment, a viable business proposal
  • Sign a performance agreement with the Province of British Columbia.
  • Sign a deposit agreement with the Province of British Columbia, if they are seeking a Fast track nomination.

Note: As for Regional Business, Fast Track option also available for this program.

Eligible business is the same as for the Regional Business program.

Business Succession Plan Buy-out is the same as for the Regional Business program

The Strategic Projects category assists foreign-controlled companies establishing an eligible business in BC with the timely entry of foreign key managerial, professional or technical staff, up to a maximum of 5 per company, who intend to become permanent residents of Canada and settle in BC.

Companies applying in this category will be required to:

  • Make a minimum equity investment of $500,000.
  • Create at least three jobs for Canadians or permanent residents in BC for each nominee applicant put forward by the company, except when the applicant is applying as a regional Succession Plan Buy-out which reduces this requirement by one job for each existing job to be maintained.
  • Demonstrate a record of good business practices and successful business operations outside of Canada that are relevant to the proposed business.
  • Establish or purchase and expand an eligible business anywhere in BC
  • Incorporate a Canadian subsidiary or register an extra-provincial company in BC to operate the proposed business.
  • Demonstrate that the nominee applicants are qualified senior personnel who are essential to establishing or expanding and operating the proposed business in BC
  • Sign a Performance Agreement with the Province of British Columbia.

 

The Fast Track option is NOT available to nominee candidates in the Strategic Projects category.