Settle in Canada as an Entrepreneur

The British Columbia Provisional Nominee Program is a great option for entrepreneurs looking to permanently settle in Canada. With Vancouver as its capital, British Columbia offers immigrants a dynamic economy and a welcoming home. It is the perfect destination for entrepreneurs and HNIs looking to build a new life abroad. As one of the leading authorities on permanent residency in Canada, Y-Axis is the perfect partner for your immigration needs.

British Columbia Provincial Nominee Program Details

The British Columbia Provincial Nominee Program is a route to Canadian permanent residency for entrepreneurs, investors and HNIs. It is a streamlined process that is transparent and allows for you to make your case as strongly as possible. Under the British Columbia Provincial Nominee Program:

• Successful candidates receive a nomination under the Provincial Nominee Program and are allowed to apply for permanent resident status
• Can lead to Canadian Citizenship
• Permanent residency option for the family (Spouse and Children below the age of 18)
• Free School education for Children , Health care benefits & Child tax benefits for children under 18 years of age

Entrepreneur Immigration:  This program consists of three streams.

• Entrepreneur Immigration Category
• Entrepreneur Immigration — Regional Pilot
• Strategic Projects Category

Entrepreneur immigration category: This stream is for entrepreneurs who wish to set up a business in the province. The invitation under this system is also points-based. The applicants must have the required funds to invest in a business. They will be eligible for PR under the entrepreneur immigration stream.

Eligibility requirements

A personal net worth of at least $600,000 that has been legitimately acquired.

Invest a minimum of $200,000 in a new or existing business in British Columbia that meets the criteria.

Create at least one new full-time position for a Canadian citizen or permanent resident in your company.

Level 4 of the Canadian Language Benchmark In each of the four competencies: hearing, speaking, reading, and writing, in either English or French.

Experience in business and/or management.

Have lawful temporary immigration status in Canada, or be eligible for it.

Entrepreneur immigration regional pilot stream: This is for investors wishing to start a new business in the regional communities across the province.

Eligibility requirements

A minimum net worth of $300,000 is required.

A minimum of $100,000 in qualified business investments is required.

A minimum of 51 percent ownership in the new company is required.

Level 4 of the Canadian Language Benchmark In each of the four competencies: hearing, speaking, reading, and writing, in either English or French.

At least one full-time employment for a Canadian citizen or permanent resident must be created.

Visit the target community for an exploratory visit.

Eligibility requirements for communities

Have a population of less than 75,000 people, it is a small town.

Must be within 30 kilometers of a municipality with a population of more than 75,000 inhabitants.

Demonstrate a network of existing settlement and business support agencies to assist the entrepreneur.

Strategic Projects Category: Under this category foreign based companies can set up their operations in the province. Five foreign professionals who can work for the business can be nominated for PR in the province under this scheme.

Eligibility requirements

Make a $500,000 minimum equity investment.

For each foreign essential staff member recommended, create at least three new employment for Canadian citizens or permanent residents (to a maximum of five key staff).

Start a business or buy an existing one and expand it in BC.

Documents Required

The documentation and other requirements for British Columbia Provincial Nominee Program includes:

• Having a personal net worth of at least CAD$600,000
• Demonstrate business and/or management experience
• Have, or be eligible for, legal immigration status in Canada
• Establish an eligible new business or purchase 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 in the business
• Passport & travel history
• Education and business credentials

How Will Y-Axis Help?

Permanent residency for entrepreneurs and HNIs is a little different from other PR programs. At Y-Axis, we have the expertise to help you navigate the intricacies of these programs and help you chose correctly. We help you with:

• Immigration documents checklist
• Complete application processing
• Forms, documentation & application filing
• Updates & follow up
• Relocation and post-landing support in Canada

With our vast experience in immigration, Y-Axis can help you create an application package with the highest chance of success. Talk to a Y-Axis counsellor today.