In 2021, entrepreneurs applying for permanent residency in Canada through British Columbia's Entrepreneur Immigration (EI) stream invested more than $21 million of their own money into new businesses. The BC Provincial Nominee Program (PNP) Entrepreneur Immigration stream nominated 38 entrepreneurs for permanent residency:
“In 2021, the BC Provincial Nominee Program (PNP) nominated 38 entrepreneurs for permanent residency through its EI stream, more than twice as many as the 17 entrepreneurs nominated in 2020.
They created 163 new jobs and contributed more than $21 million in total personal investment.”
Canada's Provincial Nominee Program
Canada encourages applications for Permanent Residence from people with skilled abilities, education and work experience that will contribute to the Canadian economy. One of the most significant programs is known as the Provincial Nominee Program or PNP. This is a system that allows the territorial and/or provincial governments to select immigrants based on the specific economic needs of that territory or province.
About The BC PNP Entrepreneur Immigration Stream
British Columbia's PNP Entrepreneur Immigration stream invites entrepreneurs who belong to one of three categories and meet the requirements on the BC PNP EI website:
- establish an eligible new business or buy and improve an existing business
- make an eligible personal investment of at least CAD$200,000 in the business
- create at least one new full-time job for a Canadian citizen or permanent resident
- Regional pilot
The EI - Regional Pilot is designed for foreign entrepreneurs who are interested in starting a new business in a smaller BC community. If you want to settle in one that is not participating in the EI Regional Pilot, or purchase an existing business, you are not eligible for this category.
- Strategic projects
The foreign corporation must:
- make a minimum equity investment of at least $500,000 directed toward the corporation’s operations in B.C.
- establish new or purchase and expand an eligible business in B.C.
- create at least three new full-time equivalent jobs for Canadian citizens or permanent residents for each foreign key staff member proposed (to a maximum of five key staff)
British Columbia PNP Entrepreneur Immigration candidates have to go through a two-step selection process.
- If the business proposal of entrepreneurs is approved, they get a work permit and they can migrate to British Columbia as temporary residents to start their business.
- The invitees will have 12 to 24 months to establish their business before they become eligible to get a PNP nomination.
Are You A Foreign Entrepreneur Who Wants to Move to British Columbia?
Vancouver, BC immigration lawyer Evelyn Ackah, Founder and Managing lawyer at Ackah Business Immigration Law based in Calgary with offices in Vancouver and Toronto and has over 20 years of expertise in helping immigrants move to new opportunities:
British Columbia is a welcoming destination for people who want to move to Canada. At Ackah Law, we open doors to new opportunities - whether our clients are moving for work, education or personal pursuits, they are all seeking to ensure smooth sailing and confidence through the immigration process to Canada. We work with clients around the globe — in person, by phone, by email or via Skype.
At Ackah Business Immigration Law, our goal is to make Crossing Borders Seamlessly a reality and to smooth your way to new opportunities in Canada. Contact Ackah Law today at (403) 452-9515 or email us directly at firstname.lastname@example.org.