BC PNP Entrepreneur Program
BC PNP Entrepreneur Program
The BC PNP Entrepreneur Program is designed for people who plan to immigrate to the province of British Columbia and manage or invest in a B.C. business.
If you want to apply for the BC PNP Entrepreneur Program, you must:
- have business experience;
- be eligible for or have legal immigration status in Canada;
- at least 600,000 CAD personal net worth;
- basic English or French language proficiency (equivalent to Canadian Language Benchmark level 4 or higher).
The BC PNP Entrepreneur Program also has a number of business, job, and investment requirements that are necessary for the application. First of all, you have to be ready to establish an eligible new business or purchase and improve an existing business in British Columbia. Secondly, your eligible personal investment in this business must be at least 200,000 CAD. And finally, you are obliged to create at least one new full-time job in this business for a citizen or a permanent resident of Canada.
In the process of your application for the BC PNP Entrepreneur Program you will have to pay two fees: a non-refundable registration fee of 300 CAD and the application fee of 3,500 CAD.
Your first step in the BC PNP Entrepreneur Program is to analyze the economy of British Columbia and to find the best opportunities for your business in the province. You can learn comprehensive information and fresh data about B.C.’s labour market and industries on the official website WorkBC. After you outline your future business idea well, register with the online application and registration system BCPNP Online. Create your profile there and describe the future business concept in detail. Based on your registration information you will receive a score and get into a qualified BC PNP Entrepreneur Program pool. The higher score you get, the better are your chances to apply through BCPNP Online.
The process of your BC PNP Entrepreneur Program application starts with registration in the online system. A short business concept must be included in your profile before you submit it. The information you provide must demonstrate that you meet the minimum requirements of the program and can be added to the qualified pool along with other registrants. Then, you will receive an email with your final score and will wait for the invitation to apply. Remember, that BC PNP reserves the right to make changes to the registration process (for example, changes to the score grid, the minimum total score required, the number and frequency of registrants invited to apply, or how long registrations stay in the qualified pool) without prior notice, so it is very important to follow all the updates on BCPNP Online website.
Periodically, the highest-scoring registrants are invited to submit a complete application to the BC PNP Entrepreneur Program. Your stay in the pool of the program is limited to six months, or until you receive an invitation to apply, but remember that registering does not guarantee that you will be invited to apply. The number and frequency of BC PNP invitations are based on annual nomination allocations set by Immigration, Refugees, and Citizenship Canada and the ability to process applications. You can always check current information about invitations to apply, draw dates, number of invitations issued, and minimum scores online.
When you receive the invitation to apply, you have four months to submit a complete application through BCPNP Online service. But if you are not invited to apply, you may try to improve your score by offering a new business concept. Also you may try to improve your adaptability score by demonstrating a higher level of English language proficiency or Canadian work experience. If you are not invited to apply after six months in the BC PNP qualified pool, you are allowed to submit a new registration form.
One of the BC PNP-authorized accounting firms will check and review your personal net worth and verify your accumulation of funds after you are invited to apply. The firm will also assess your supporting financial documentation. You will receive a list of authorized accounting firms and instructions with your invitation to apply. It is worth mentioning, that you have to cover all costs associated with this verification service. If the review is completed successfully, the authorized accounting firm will produce a report and send copies to you and the BC PNP. Then, you will be invited to submit a complete application through BCPNP Online. Remember, you have four months to do it.
The assessment of the BC PNP Entrepreneur Program is made in accordance with program criteria. If your application details differ from your registration information the application may be declined. Also, you may be required to attend an in-person interview at the BC PNP offices located in Vancouver. During the interview, you will be asked about your business and work experience, and your future business plan. Both, the information of your application and your answers during the interview will influence the assessment process. You will sign a Performance Agreement with British Columbia if your application is approved by the program. Every Performance Agreement is unique and is based on the information provided in the application, business plan and in-person interview. Then, you will be given 20 months to implement your business proposal in the province of British Columbia.
The next and perhaps the most important step is to establish your business in B.C., following the terms and conditions of your individual Performance Agreement. The BC PNP Entrepreneur Program will provide you with a letter of support. It will allow you to apply to Immigration, Refugees and Citizenship Canada for a two-year work permit, enabling you and your dependents to move to British Columbia. It is important to arrive in the province with your valid work permit within one year of the date of your letter of confirmation by the BC PNP Entrepreneur Program.
Finally, you will be able to start implementing your business plan in British Columbia. You will be given 20 months to manage your business and meet all of the requirements of your Performance Agreement. In order to receive a provincial nomination and apply to IRCC for permanent residence, your final report to the BC PNP must be submitted between 18 and 20 months after you arrive in British Columbia. Also, you have to submit the required proof of language proficiency.
The final report will be reviewed and evaluated by the BC PNP Entrepreneur Program office. If it shows that you meet all your performance agreement terms, you will be invited to sign a Conditions of Nomination declaration. After signing it, BC PNP will issue a confirmation of your nomination as a provincial nominee. Then, you will be allowed to submit your application for permanent residence to IRCC under the Provincial Nominee Class.
Regards,
International Experience Club
