BC Entrepreneur Immigration Strategic Projects assists foreign-controlled companies establishing an eligible business in BC with the timely entry of foreign key managerial, professional, or technical staff who intend to become permanent residents in Canada. It enables the foreign companies to set up a base on operations in BC, the base of operations can be a branch or an operations facility. For this category, one company can propose up to 5 key staff members.
Eligible Companies for BC Entrepreneur Immigration Strategic Projects:
To see if your company is eligible for this stream, evaluate based on the following:
- Successful business practices and profitable business operations outside of Canada that are relevant to the proposed business plan
- demonstrate that the key staff members proposed are qualified senior personnel who are essential to establishing and operating the proposed business in BC.
- The company should be in good financial standing
- It should demonstrate the investment readiness (plans to expand, new staff hire, etc.)
- Provide evidence of providing economic benefit to the province of BC
Eligible Key Staff Members for BC Entrepreneur Immigration Strategic Projects:
- Key staff member must be an executive or has a senior managerial position or has specialized knowledge essential.
- Full time employment opportunity for these positions in BC
- Salary compensation as per the level of occupation and the wage regulations of the specific industry in BC.
1. Requirements for BC Entrepreneur Immigration Strategic Projects:
There are some specific requirements that a company should fulfil
- You should have a minimum equity investment of at least CAD $500,000 towards the business that you plan to establish
- You must create at least 3 new jobs for Canadian Citizens or permanent residents for each key staff member proposed.
- Should establish a new business in BC or expand/purchase an existing eligible business in BC
Types of Businesses Ineligible for BC Entrepreneur Immigration Strategic Projects
There is a list of business which are classified as ineligible by the BC Immigration Program. Following is the list ( source: welcomebc.com)
- an immigration-linked investment scheme pursuant to Provincial Immigration Programs Regulation section 6(e) and the Immigration and Refugee Protection Regulations (IRPR) section 87(5)(b) and as defined in IRPR 87(9)
- any business where the terms of investment include a redemption option pursuant to IRPR 87(6)(d)
- any business that may be a passive investment pursuant to IRPR 87(6)(c)
- bed and breakfasts, hobby farms and home-based businesses
- a 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 businesses that provide value-added services such as repairs, refurbishing, or recycling)
- real estate development/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 by association would tend to bring the BC PNP or the Government of British Columbia into disrepute
Just like the base and regional pilot program, through this program, you are given a 2-year work permit which can then turn into a Permanent Resident status upon completion of the successful tenure as per the performance agreement and submission of the final report. The steps are like the base category.
- Arrange an exploratory visit to BC to learn about the market, trends, costs associated with operations, and other governing rules and regulations of the industry of interest.
- Provide a business proposal. The business proposal should include specific details e.g. the year launches, gross income, profits, staff and members, revenue, etc. This is a very critical step and we suggest you seek professional help to write an eligible proposal. Your company must contact the BC PNP to discuss different aspects of the business proposal before submitting it.
- Once the business proposal seems acceptable, it is time to register. There are three things that you need to outline during the registration process: the company’s details, proposed investment in the province of BC, and the details of qualification/credentials of the proposed key staff members.
There is a one-time non-refundable registration processing fee of $300.
Once the registration is done and the fee is paid, your request will be evaluated base on the eligibility criteria mentioned above. I you fulfill their requirements and they approve your business proposal; you are then invited to submit the complete application. You will be given 90 days to submit the complete application. After 90 days, the invite will be automatically expired so be prepared and submit the complete application in the given time.
To submit the application, the company along with the key staff members should send all the documents as one package. Please ensure that the documents are complete and signed. Your application will be reviewed for completeness and authenticity. The key staff members might be called for an in-person interview in Vancouver, BC.
Fee: The application processing fee is $3,500 for the company. There is a fee of additional $1,000 for each key staff proposed.
Performance Agreement: If your application is approved, the company has to signs a corporate Performance Agreement with the Province of B.C. Each key staff member is also required to sign the agreement.
Work Permit, Nomination, and PR: These steps are similar to the base category and regional program.
Please refer to the Entrepreneur Immigration – Base Category Program Guide for details, or contact us.
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