Canadian Law Group

CKR Law Canada: Entrepreneur/Investor Series | Canadian Province of the Month: British Columbia

British Columbia (commonly known as "B.C.") is Canada's most Western province, bordering the Pacific Ocean. It lies just above the state of Washington in the US, and the drive from Seattle, Washington is a gorgeous 3-hour drive in the mountains. The Peace Arch border crossing into B.C. from Washington State is also known as one of the stricter border crossings into Canada. Many cruise ships to Alaska dock in Vancouver, B.C., triggering the need for Canadian visas quite often, even if only for a few hours of transiting in Canada.

B.C. is world-renowned for its beautiful national parks, mountain ranges and never-ending coastline. Adventure seekers can ski or snowboard down Whistler Mountain, and also make time to surf Canada's best surf locale, Tofino, on Vancouver Island (Justin Trudeau approved!)

Vancouver is B.C.'s most metropolitan city with just over 650,000 people, while Victoria, on Vancouver Island, is known for its botanical gardens and historic buildings. Vancouver is a popular filming destination as it is nestled between mountains and beaches, colloquially called "Hollywood North." Tourism is a thriving industry in B.C. and the city of Kelowna is a choice destination for wine tourism.

B.C. has a more temperate climate than Eastern Canada and it has become a choice destination for Canadian retirees. Vancouver remains B.C.'s business center while rental and property prices remain high due to foreign national buyers from Asia raising market values. Despite some complaints with regard to difficulty in finding affordable housing, residents of Vancouver enjoy a high standard of living.

Information technology (IT) workers from the U.S.A.'s Silicon Valley have been flocking to Vancouver and we are seeing a huge increase of IT companies looking to expand their operations north into B.C. From an immigration perspective, US companies have been looking for ways to retain their foreign IT talent on North American shores by "benching" them in Canada to continue to work remotely. Microsoft led the initiative in this regard, expanding its operations from Seattle to Vancouver a few years back.

B.C. boasts a number of attractive immigration programs to accelerate immigration. One of particular interest is the entrepreneur immigration stream. For information about the B.C. provincial entrepreneur program, please see the below chart for eligibility criteria:

 

 Entrepreneur Immigration - B.C. Provincial Nominee Program 

-must have been lawfully admitted to your current country of residence

-must have personal net worth of 600,000 CAD.

-must demonstrate business and/or management experience*

-must 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 200,000 CAD in the business

 -must create at least one full-time job in the business for a Canadian citizen or permanent resident. 

-applicant must pay application fees:

$300 CAD registration fee (non-refundable)
$3500 CAD application fee
$1000 CAD for each key staff application

 HOW TO APPLY: Create a profile and register with B.C.'s online application system, BCPNP Online,
once you have a business idea/concept. If you are eligible your application will receive a score
and you will be entered into a qualified pool. B.C. invites the highest scoring
individuals to apply through BCPNP online, periodically.

 

*For full detailed program eligibility requirements please see: https://www.welcomebc.ca/getmedia/e86adbb5-e9ad-4181-b9a7-d604f4453a51/BC-PNP-Entrepreneur-Immigration-Program-Guide.pdf.aspx