Immigration to British Columbia
Immigration to British Columbia under the Regional Business Immigration component of the BC PNP has been increasingly attractive to business immigrants from all around the world. British Columbia offers accelerated immigration for investment-ready and qualified entrepreneurs ready to invest and settle in BC. The BC PNP nominates for permanent residence potential immigrants who have the ability to establish themselves successfully in BC and develop and actively manage a business that will provide significant economic benefits to the province.
Requirements for Regional Business Category
Applicants for nomination in the Regional Business category will be required to:
- Make a personal investment of at least $200,000 CAD to establish or to purchase and expand an eligible business (see below) anywhere in BC outside of the Vancouver metropolitan area and the Abbotsford metropolitan area.
- Create at least one new job in the business for a Canadian or permanent resident, except when the applicant is applying as a regional Succession Plan Buy-out.
- Own at least one third (33 1/3%) of the equity of the business.
- Provide active and on-going participation in the day-to-day management and direction of the business.
- Demonstrate that they have: the skills and experience necessary to establish and operate a commercially viable business in BC; a personal net worth of at least $400,000 CAD obtained from legal sources; sufficient unencumbered personal funds to make the required investment a viable business proposal.
- Sign a Performance Agreement with the Province of British Columbia.
- Sign a Deposit Agreement with the Province of British Columbia if they are seeking a Fast Track nomination.
Fast Track Option
The Fast Track option offers immediate nomination for permanent residence, in return for which you will make a conditionally refundable $125,000 CAD deposit with the Province of British Columbia. The deposit will be refunded (without interest) when you have met the terms of conditions of your Performance Agreement and Deposit Agreement.
Principal Applicants and Foreign Staff
Applications in the Regional Business category are limited to principal applicants. Foreign key staff cannot be included as co-applicants for nomination.
Business Succession Plan Buy-out
Regional Business applicants who commit to purchase an existing business will not be required to create a new job where they commit to maintain existing employment for Canadian citizens or permanent residents. These applications will receive priority processing.
In addition to meeting the requirements for the regional business category, the following additional requirements must be met.
The target business must:
- be operated by the same owner for a minimum of 5 years
- have employees, other than family members
- be actively in operation.
The applicant must:
- complete an exploratory visit to meet the retiring owners and, where feasible, the local Economic Development Office
- operate the business for a minimum of one full year prior to being considered for nomination (or deposit refund, in the case of Fast Track nominees), with long term intentions of continuing to operate the business
- the succession plan buy-out transaction is to result in a complete change of ownership whereby the purchaser(s) take full control of the business .
Eligible Business
The BC PNP will only consider applications to establish or purchase and expand a business that meet the following eligibility criteria:
- The business must be operated for the primary purpose of earning profits from active income through the provision of products and/or services.
- The business must have good potential for sustained commercial viability.
- The business must have the potential to create significant economic benefits for British Columbia. For example, the benefits may contribute to:
- increasing value-added manufacturing, processing or primary resource activity
- increasing exports of goods or services
- increasing destination tourism
- increasing R&D/technology commercialization
- developing innovative and creative approaches to traditional businesses
- transferring technology, skills and specialized know-how to the province
- servicing an underserved local or regional market
- succession plan buy-outs where eligible businesses are purchased from retiring owners
Ineligible Business
Applications will NOT be approved where the BC PNP is not satisfied that the proposed business has the potential to be commercially viable in British Columbia. In addition, the BC PNP will NOT approve applications for the following type of businesses:
- Bed and breakfasts, hobby farms and home-based businesses
- Pay day loan, cheque cashing, money changing and cash machine businesses
- Pawnbrokers
- Coin operated laundries
- Automated car wash operations
- Sale of used goods (excluding collectibles, or where the business provides value-added services such as repairs, refurbishing, or recycling)
- Real estate development/brokerage, insurance brokerage or business brokerage
- Businesses involved in the production, distribution or sale of pornographic or sexually explicit products or services, or in the provision of sexually oriented services
- Any other type of business that by association would tend to bring the program or the Government of British Columbia into disrepute
In addition, applications will NOT be considered for the following types of businesses in the Vancouver metropolitan area or the Abbotsford metropolitan area:
- Convenience stores
- Video and DVD rental stores
- Gasoline service stations
- Personal dry cleaning services
Investment in the Business
If you are buying the shares of an existing operating business no more than two thirds of the applicable minimum personal investment can apply to the purchase of shares and you must acquire ownership and control of at least one third of the business. The shares you buy to purchase the business must be common full-voting shares and must not have a redemption option.
If you are buying the assets of an existing business no more than two thirds of the applicable personal investment can be applied to the purchase of these assets.
In addition, at least one-third of the required applicable minimum investment for the category must be directed towards expansion and/or improvement of the existing business that you are purchasing.
The applicable minimum personal investment cannot be applied to the purchase of real estate unless you can satisfy the BC PNP that the real estate is essential to the business, in which case no more than two thirds of this investment can be applied for this purpose.
The applicable minimum personal investment can be applied to the following types of business costs, provided that the amounts are reasonable for the business involved:
- Machinery, equipment, furniture and fixtures
- Leasehold improvements
- Inventory
- Patents and licenses
- Franchise purchase fees
- Allowable real estate and franchises
- Initial promotion and marketing
- Other start-up expenses, such as incorporation and permit fees, legal and other professional fees
If, because of the nature of your business, you are unable to apply the full amount of the minimum required personal equity investment to these types of expenditures, you may apply the balance to wages, building rent and other normal operating expenses (excluding any payments to yourself or family members) during the first six months of operations if you are establishing a new business, or three months if you are buying a franchise or an existing business.
Pease note that the BC PNP establishes nomination targets for the program, and gives priority to candidates who demonstrate the greatest potential to create a successful business and contribute economically to the province.
For further information or questions regarding Business Class requirements, please feel free to contact our office. If you would like to know whether you could be eligible to immigrate to Canada in the Business Immigration category, we invite you to complete our online assessment questionnaire: On-line Assessment Questionnaire.
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