BC PNP APPLICATION PROCESS Business Skills, Fast-Track

The chamber of the British Columbia provincial...Image via WikipediaThe BC PNP is a provincial immigration program which is operated in partnership with Citizenship and Immigration Canada. The specific program we will describe below is known as the “Business Skills” program and is suitable for investment in the GVRD or Abbotsford. Applicants can be fast-tracked if a client is willing to deposit $125,000 interest free with the province after nomination. The deposit is refundable in full when the client satisfies the terms of the PNP program.

Compared to the Federal Investor Program, the BC PNP business programs typically offer a number of advantages, including early entry in Canada on a work permit, control over investor dollars and flexible qualification criteria.

The general requirements of the program include:

  • Confirmation of a personal net worth of at least $800,000.00
  • An minimum investment in a BC business of $400,000.00 (existing business or start-up)
  • The investment must create three full time jobs in the business
  • You must actively participate in the management of the business
  • You must demonstrate enough unencumbered funds to make the investment
  • You must own at least 33.3% of the voting and non-redeemable shares in the business

The Investment

The general guidelines regarding the $400,000 investment are flexible, but must still conform to a number of rules, including:

  • A maximum of $267,000 of the $400,000 investment (2/3) can be attributed to the purchase of shares. You may purchase shares for more than this amount but will only get credit for $267,000.
  • Investments in real-property are generally not credited except for in unique situation
  • The balance of the investment may be used for items such as equipment, leasehold improvements, inventory, patents, promotion/marketing, professional/start-up fees and start-up wage
  • The business investment has to be reasonable and make good commercial sense

A Regional Program exists for clients wishing to invest outside of the GVRD or Abbotsford, but still in BC. The requirements under the Regional Program are half of the Business Skills program, i.e., $400,000 net worth and a $200,000 investment and at least one full-time job created.
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