British Columbia - Business Skills
The business component of the BC PNP offers accelerated immigration for investment-ready and qualified entrepreneurs ready to invest and settle in BC, and become permanent residents of Canada. The objectives of the BC PNP Business Immigration categories are to encourage economic development, promote job creation and maintain existing jobs 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.
Applicants must meet the program’s nomination criteria but should be aware that meeting the minimum requirements does not guarantee approval.
The BC PNP establishes nomination targets for the program, and gives priority to candidates who demonstrate the greatest potential to create a successful business and contribute economically to the province.
The BC PNP provides opportunities for business immigration in three categories:
The basic criteria for consideration under all three of the business categories relates to business eligibility:
•The primary purpose of the business is to earn profits from active income from the supply of products/services;
•The business' sustained commercial viability must be probable;
•The business must provide economic benefit to BC by contributing to one of the following: ◦increasing the exports of goods/services;
◦increasing value-added manufacturing, processing, or primary resource activity;
◦increasing BC tourism;
◦increasing research and development and technology commercialization;
◦creating innovative approaches to traditional businesses;
◦servicing an underserved regional market;
◦transferring skills, technology, and know-how to BC;
◦succession plan buy-outs where eligible businesses are purchased from retiring owners.
Applicants for nomination in the Business Skills category will be required to:
1.Make a personal investment of at least $400,000 CAD to establish or to purchase and expand an eligible business anywhere in BC
2.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.
3.Own at least one third (33 1/3%) of the equity of the business.
4.Provide active and on-going participation in the day to day management and direction of the business.
5.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 and
◦a viable business proposal
6.Sign a performance agreement with the Province of British Columbia.
7.Sign a deposit agreement with the Province of British Columbia, if they are seeking a fast track nomination.
Fast Track Option
The fast track option offers immediate nomination for permanent residence. In return, you will be required to 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.
Principal Applicants and Key Staff
Principal applicants in Business Skills category may include one foreign, key staff essential to the proposed business as a co-applicant for nomination, but must still create three jobs for Canadians or permanent residents.
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 (PDF - 2.34MB) and the Abbotsford metropolitan area (PDF - 775KB).
» 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
» provide evidence that reasonable efforts have been made to establish a fair market value for the target business
» 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
» the succession plan buy-out transaction is to result in a complete change of ownership whereby the purchaser(s) take full control of the business.