The new British Columbia Provincial Nominee Program (BCPNP) introduces changes to the application process and requirements in the Entrepreneur Immigration stream, effective July 2, 2015. Specifically, the BC PNP has introduced a mandatory online Entrepreneur Immigration.
Registration and updated program criteria
Program Criteria:
ENTREPRENEUR IMMIGRATION (FORMERLY BUSINESS IMMIGRATION):
• BC PNP has streamlined two categories – Business Skills and Regional Business – into one Entrepreneur Immigration stream to improve efficiency and outcomes.
• A mandatory online Entrepreneur Registration system is now available to simplify the intake process and ensure timely processing for high-impact applications.
• For more information on changes to program requirements, the new online registration process, or applications to the Entrepreneur Immigration stream, see our Program Requirements page.
Entrepreneur Immigration Requirements:
• General Nomination Requirements
◦ active and ongoing management of the day-to-day business operations
◦ demonstrated residence in B.C.
◦ admissibility to Canada
• Personal Requirement ◦ personal net worth of at least $600,000
◦ business and/or management experience
• Business requirements
◦ establish a new business or purchase and improve an existing business
• Investment requirements
◦ make an eligible personal investment of at least $200,000 in the business
• Job requirements
◦ create at least one new full-time job for a Canadian citizen or permanent resident in the business
It is your responsibility to demonstrate that you meet the program requirements.
An Entrepreneur Immigration Registration is not an application to the Entrepreneur Immigration stream or a guarantee that you will be invited to apply.
The BC PNP may refuse your application if the information in your registration is materially different from your application.
WHAT HAS CHANGED?
The Entrepreneur Immigration Registration is a points-based ranking system based on a registrant’s personal and business information, including the proposed business concept in B.C. Registration requires a CAD$300 non-refundable fee and registrants will receive their scores through BC PNP Online.
Registrations that exceed the minimum score will be placed in a selection pool valid for up to six months.
Periodically, the BC PNP will invite the highest-scoring registrants to submit an application. The frequency and number of invitations will be based on BC PNP processing capacity. Estimated processing times for new applications will be 3 – 4 months from receipt of a complete application. With a focus on reducing the inventory of existing applications, BC PNP estimates that less than 100 invitations will be issued in the 2015/16 fiscal year.
HOW DOES THIS IMPACT EXISTING APPLICANTS?
If you applied to the BC PNP on or before March 31, 2015, you will not be affected by these changes. Your application will be assessed against the program requirements in place at the time you applied.
CAN I REGISTER UNDER THE NEW ENTREPRENEUR STREAM?
You may choose to submit an Entrepreneur Immigration Registration through BC PNP Online. If you are invited to apply under the new stream, you will be required to withdraw your existing BC PNP applications and submit a new application based on the updated requirements.
If you are not invited to apply, your existing application will remain in the BC PNP inventory and be assessed according to the posted processing times.
Please Contact Us for more information.