Provincial Nomination Program (BC- PNP) mearani
British Columbia Provincial Nomination Program (BC- PNP)
The British Columbia Provincial nomination program (BC-PNP) is designed for senior managers or business owners who intend to invest funds into a proposed business in British Columbia and become Canadian permanent residents.
They must establish a business which will provide significant economic benefits to the province. The PNP establishes nomination targets for the program and, as such, priority is given to candidates demonstrating the highest potential to create a successful business and to contribute economic benefits to the province. Successful applicants must sign a performance agreement with the province. They are invited to B.C. on a work permit to establish their business and only nominated for permanent residence once the terms of the agreement have been met.
Basic Steps of the process
There are four basic steps in BC-PNP are;
Online Registration under “Entrepreneur Immigration Registration” in 30 days for making personal profile to be selected under the candidate selection pool.
Upon interview and successful assessment of the application, a Performance Agreement needs to be signed after which Letter of Confirmation is issued by the BC PNP to apply to and obtain a 2 years Work Permit from the CIC.
After meeting the nomination conditions*, BC-PNP immigration issues nomination for applicant to apply for his PR application.
* nomination conditions to meet are;
Establishment of business as per submitted business plan within 18-20 months of landing.
Active management of business in BC.
75% Residency within 100 km of business in BC.
creation of at least 1 job in business.
Principal applicant must have net worth of at least CDN$ 600,000 (including cash) of himself or in accumulation with that of his spouse. (inheritance is not counted)
Must have 1+ years business ownership (at least 10%) and management in last 10 years OR more than 2 years of senior management experience (with no or less than 10% ownership) in last 10 years.
Must identify the NAICS for industry in case of business experience; while for senior management experience NOC must be identified.
Must score the minimum point in each of the Scoring Criteria including total Net worth, experience, personal investment, jobs creation, language and exploratory trip to BC.
Education requirement is having two years of post secondary education, or else must have 100% business (alone or with spouse and dep. children) ownership with active management thereof.
Minimum investment requirement of at least CDN$ 200,000 (from PA assets) without working capital for intended business in BC.
Must own at least one-third equity of the proposed business, or $ 1.0 million.
Must demonstrate to create at least one job in new business or maintains staff in purchase option.
Detailed business plan will be required at application submission along with supporting documents.
Online profile will be removed from the election pool after 6 months of the online registration.
Following 5 businesses are not allowed;
– convenient stores,
– dry cleaning,
– gas stations,
– tanning saloons,
– DVD rentals
– OVERALL PERIOD FOR PR STATUS is minimum 3.5- 4 years.
Provincial Stage – 2-2.5 year till getting work permit;
Provincial approval is 10 -12 months. (1 month for ITA, 4 months for submission 4-5 months of assessment/ approval)
More than a year (16-18 months) for WP to land in BC, Canada.
While in Canada, Provincial nomination approval for applying for PR is 1–2 years (which is conditional upon meeting nomination conditions) after which PR status is issued.
Registration fee $300 non-refundable.
Processing fee of CDN$ 3,500 after applicant received an invitation to submit his application.
Secure Your Legacy Today®
If you like this site please help and make click on any of these buttons!