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Invest into Canada for Permanent Residency Options
Canada Immigration Investments
According to Forbes and Bloomberg, Canada is known to be the best country in the G20 to do business. So if you are looking to invest your money in country in which you can prosper and grow then look no further than Canada. It is a great way to immigrate to Canada for permanent residency options. Each province has its own requirements when applying under investor category.
British Colombia- Entrepreneur Immigration
If you are anticipating investing and settling in British Colombia, host of Vancouver Canada’s third major city; there is a great program called the BC PNP. The British Colombia Provincial Nomination Program runs in two main streams, the first is skills immigration and the second stream is entrepreneur immigration. Within this stream it is then divided once again, there are two main types of investment categories you can invest in there are: regional businesses, and strategic projects. If you are involved with one of these projects then you may be eligible for permanent residency.
Entrepreneur Immigration: Regional Business
If you are a senior manager or a business owner and you are anticipating to invest your money into a specific business in British Colombia than this would be the right program for you. There are a couple of factors that you must include on your application to be successful. To be a good candidate you should include your personal net worth, and foundation of where your capitals (your assets, investments, and resources) are coming from. You should provide your work experience, your experience with businesses and your business proposal- include your business plan, and proposed investment. You must have a net worth of $600,000 CAD, and be able to contribute a minimum investment of $200,000 CAD.
Entrepreneur Immigration Registration (EIR)
The Entrepreneur Immigration Registration (EIR) is the online process for all applicants who are registering for the Entrepreneur Stream of the British Colombia Provincial Nominee Program (BC PNP) . Only 200 applications are accepted per month, so the candidates who have the highest score on the application system are invited to join. If you are a successful candidate then you are able to get a Work Permit in Canada, once you obtain this permit and you are successful with your business then you will be able to apply for permanent residence in Canada through the BC PNP. If you are experienced and are able to maintain a well performing business then you are using the program at its intended purpose. This stream of the BC PNP is bridging you, the business professional with a permanent residence in Canada as we hope that your investment to operate your business in Canada will help contribute to making British Colombia’s economy stronger.
Entrepreneur Immigration: Strategic Projects
This stream of the BC PNP is for those who are looking to establish an existence of their foreign company here in British Colombia. The company is allowed to ask for at the most, five important key members of your team and that it is these five people who are intending on becoming permanent residents in Canada. It is highly suggested that your team and yourself all come and visit BC and analyze the business environment, and what the local business opportunities are prior to drafting and submitting an application.
Requirements for your Company to Invest in Canada
Your company must have the following in order to be eligible in this stream of the BC PNP program:
- Show that you have good business successes and good practices already established outside of Canada
- Show that your staff are all qualified and are important and essential to the operation of the business that you are proposing to have in Canada
- The BC PNP will only allow qualified staff members who are eligible for immigration status in Canada
Requirements for your Application to Invest in Canada
The BC PNP will send the applicant a package by email for the application of the business proposal, they will only send this if you meet all of the requirements. You, as the business owner now have the duty to submit all of the documents and forms that are needed for the application. There is a processing fee and there is an application fee for each staff member that wants to apply through the program. Once the application is reviewed you will go through an interview process in Vancouver. The following are things that should be included in your business proposal:
- Information about the business(description of business, sales, revenues, number of staff, year of establishment)
- Explanation of the business that is being purchased or established in British Colombia
- Relating how the proposed business in BC is related to the core business
- Study of the commercial viabilities
- A detailed investment breakdown, so rationale for the investment
- What your annual revenue will be- estimated
- A list of the jobs that this business will provide to Canadian Citizens and to our permanent residents
What happens after Investment Application is approved?
Once your application has been approved there are a few steps to complete, you will need to sign a performance agreement with the provincial government then you need to make your equity investment. Your equity investment shall be a minimum of $500,000 and this will be towards purchasing or establishing your business. Your business must also create at least three new jobs for Canadian citizens or permanent residents, per each staff member that you have.
Contact Akrami & Associates
If you are considering investing in a business in British Colombia, there are many steps that need to be taken. The investor category is not an easy process and highly recommended to consult with an immigration expert prior to starting your application. At Akrami & Associates we want to help you be successful and help you bring your business to Canada. Call us for help at 416-477-2545.
With Akrami & Associates there is always a way!