British Columbia Investment Program
Qualified individuals looking to invest or start a business in BC can do so by relocating to British Columbia through their BC Entrepreneur Program. This is part of the BCPNP. The program was designed to ensure economic development in BC along with the increased ability to create jobs for the local population. Just as the BC Skilled Professionals’ immigration, once the entrepreneur aspirant satisfies all the norms defined by BC, he/she will receive a nomination from BC based on which, one can apply for their Permanent Residency Visa with the Canadian Federal Government.
The applicant can apply for this program along with his immediate family (spouse/legal partner and dependent children up to age 18 years of age)
Who Qualifies for the Program ?
Entrepreneur must be able to invest a minimum of CAD $200,000 in his/her new business or in already running business. Such investment must create a minimum of 1 job for local Canadian citizens or residency permit holders.
You should be able to prove your net worth of a minimum of CAD $600,000 in form of cash, or any kind of movable and immovable assets. Such assets can be in yours or your spouse name.
In case, you would want to invest in rural Columbia, then you need to prove your net worth up to CAD $300,000. You need to prove the legitimacy of your net worth property.
You should have never been deported out of Canada for illegal reasons – living, work wise or for any other reason
You must be 18 years and above.
You must have prior experience in managing and running business. A minimum of 3 years of experience is expected to qualify.
You must be able to support your case with proper documentation proving you are free from any kind of criminal impediments in your current country.
You must be able to prove that you can adapt yourself to Canadian local environment
You need to take up English language Proficiency tests through authorized agencies and achieve the required Canadian Language Benchmark.
Your education helps you gain more score. Your certificates must be assessed by respective authority agency.
It would be nice but not mandatory if you have previously visited Canada or British Columbia
Points 4, 5, 6, 7, 8 and 9 are also factors on which your score would be based on. This score qualifies the applicant to pursue his Canadian Dream.
Please Note- Along with your family, you can propose to bring one another key member of your business to Canada.
The applicant can register with any other co-registrant who would want to invest in the same business as the applicant. Reach out to us to learn how.
Within this program, there is another section called Entrepreneur Immigration Regional Pilot which allows the applicant to relocate to a much lesser known part of BC and invest there, creating economy and jobs there.
Your business must contribute to the economy of British Columbia along with it creating job opportunities.
The entrepreneur must own at least 1/3rd of the business or invest a minimum of CAD $1 million into the business.
If a single applicant the entrepreneur can invest a minimum of CAD $200,000; in case there is a key member of the business accompanying, the entrepreneur must invest a minimum of CAD $400,000 into the business as initial investment.
This investment should be used for all purposes including development, implementation and purchase of inventory required for the business.
Job Creation is another key factor which will provide you nomination. During the initial 20 months, the entrepreneur will have to generate a minimum of 1 job for the local population either Canadian citizens or Permanent Residency holders.
The aspirant investment entrepreneur should participate in the day-to-day running of the business.
It is important to have your residential address within 100 kms of your business. As it is a qualification required for the BC government to provide you a nomination.
The applicant must be ready with his/her business concept or plan at the time of registration which should have all the information about the whole business cycle, its future growth plan, how it would contribute to Canada’s economy and growth.
This business concept should explain the likelihood of the success of your business. The strength and its viability picture should be given.
Each point mentioned in the registration process, would secure you more score required.
Submit your application into the BC portal
You will receive an email asking you to submit your pre-application when you get the required score
There will be an background check and other assessments along with your in-person interview
Once the application is approved, you will have to enter into a performance agreement, which will qualify you for the work permit.
With the work permit, set up your home and business in BC within 18 to 20 months of signing the agreement
Before the end of these provisional period, submit your business report
IF your report is satisfactory, you will be provided a nomination by the BC government with help of which you can proceed to apply for your permanent residence.
Please be informed that the process although seems simple, needs minute attention for proper deliverance of documents and applications and sometimes intervention of legal authorities. It is advisable to go through professional immigration consultants to ensure your safe migration to BC. We at XIPHIAS provide all of these services and much more.
XIPHIAS Immigration Pvt Ltd., is top investment immigration firm which is built by a team of international investors’ immigration experts who can provide you with every information you would require to relocate to Canada and run/start your business there.
XIPHIAS immigration is an ICCRC registered firm and we provide services right from preparing the application, submitting the required documents, helping you pay the fees, representing your case if need be at the Immigration council and also provide pre and post landing services.
Reach out to us for more information.