Immigrant investors spend more than $21m and created 163 jobs under BC’s EI stream in 2021

Highlights of Entrepreneur Investor Stream

• Overseas investors spent more than $21million last year into new businesses
• The investment has been made through the Entrepreneur stream of the British Columbia Provincial Nominee Program
• The investment helped in creating 163 new jobs

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Immigration investors created 163 jobs by investing more than $21 million

Investors who want to apply for permanent residence in Canada through Entrepreneur Stream have made an investment of more than $21 million. The investment has been made last year in new businesses and this helped in creating 163 jobs. According to the BC PNP statistical report 2021, British Columbia has contributed to the growth of Canadian economy.

 

The number of entrepreneurs invited for permanent residence through the Entrepreneur stream in 2021 is 38. The EI stream invites the entrepreneurs who belong to any of the three categories listed below:

• Base
• Regional pilot
• Strategic projects

Selection process of the entrepreneurs in BC

Candidates have to go through a two-step selection process. If the business proposal of entrepreneurs is approved, they get the work permit and they can migrate to British Columbia as temporary residents to start their business. The invitees will have the time of 12 to 24 months to establish their business before they become eligible to get nomination.

 

Migration to Canada slowed down due to the pandemic but in 2021, it boosted again. In 2019, 341,175 candidates were invited to migrate to Canada. The figure fall down to 184,585 in 2020.

 

Rising of BC immigration

The invitations issued by British Columbia fall from 50, 230 before the pandemic to 28,480 in 2020. Ottawa started many new programs to increase the immigration and one of them was temporary resident to permanent resident. In 2021, the Canadian immigration increased by 120 percent and 406,005 new permanent residents were welcomed.

 

The immigration to British Columbia also increased in 2021 and went up to 69,470 new invitations. British Columbia also has Skills Immigration stream. In 2021, 6,213 candidates were invited through this stream. In 2020, the number of invitations through this stream was less than 6,251 and in 2019, it was less than 6,551.

 

Are you looking to invest in Canada? Talk to Y-Axis, the world’s no. 1 overseas immigration consultant.

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