The BC PNP Regional Succession Option provides the applicant the opportunity to purchase and take over an existing business in the province. The British Columbia Provincial Nominee Program (BC PNP) Regional Business Succession Option is available to applicants in all of the categories of the BC PNP Business Immigration streams if the business is located outside of the Vancouver or Abbotsford metropolitan areas. These applications receive priority processing and may have fewer job creation requirements.

BC PNP Regional Succession Eligibility

• You must meet the criteria for one of the Business Immigration categories including the investment requirements.
• There must be a complete change in ownership of the business.
• The business you are purchasing must meet the specific eligibility criteria described below

Business Eligibility

To qualify, the British Columbia business you intend to purchase must:

• Be located outside of the Vancouver or Abbotsford metropolitan areas.
• Have been operated by the current owner for at least five years.
• Have at least one full-time employee other than the owner’s family members.
• Be actively in operation and not in receivership.
• Be an eligible business.

Job Creation Requirements

• If you are applying through the BC PNP Regional Entrepreneur category, there are no additional job creation requirements if you commit to maintain the existing positions for Canadian citizens or permanent residents.
• If you are applying through the Entrepreneur category, the minimum number of full-time equivalent jobs a business must provide are three, which can be  reduced for each job maintained. For example, in the case where one existing full-time job is maintained then only two new full-time equivalent jobs need to be created. On the other hand, if three or more full-time equivalent jobs are maintained then no new jobs need to be created. Only jobs provided to employees who are either Canadian citizens or permanent residents are eligible for consideration.
• If you are applying through the Strategic Projects category, the job creation requirements remain the same. You must create at least three new jobs for Canadians or permanent residents for each key staff member proposed.

Key Staff

If you wish to propose a key staff member to accompany you, you must apply under the BC PNP Entrepreneur or Strategic Projects categories. You cannot propose a key staff member if you are applying as a BC PNP Regional Succession Option – Regional Entrepreneur.

Under the Entrepreneur category, your application can propose one foreign key staff member whose expertise is essential to the success of your business. Under the Strategic Projects category, the application can propose up to five key staff members. Typically, a key staff member will have worked with you in a senior position over a number of years and have a unique skill set.

BC will only provide a work permit support letter for a key staff member for a temporary two-year work permit if you can demonstrate that a Canadian or permanent resident would not be able to take on the proposed role.

The staff member will also be eligible to be nominated for permanent residence if your business meets the terms and conditions of your Performance Agreement.

Requirements

• Make an exploratory visit to see the business location, meet with the retiring owners and, where feasible, the local economic development representative.
• Establish a fair market value for the target business.
• Complete the full purchase of the business.
• Operate the business for a minimum of one full year before the BC PNP will consider nominating you for permanent residence.
• Demonstrate that you have long-term intentions of continuing to operate the business.

Please Contact Us for more information on this program.