Almost a year after it was temporarily closed, British Columbia has reopened the Entrepreneur Immigration stream and will begin accepting applications from experienced entrepreneurs on July 13, 2022.
Table of Contents
1.1. Breakdown of Points
British Columbia paused its base category for the Entrepreneur Immigration stream temporarily on July 19, 2021, to align it with the priorities of the Canadian government while supporting the country's economic recovery.
Changes have also been made to the invitations to apply in conjunction with the reopening of the Entrepreneur Immigration base category. More than one factor may now be considered when issuing the targeted invitation to apply (ITA).
The province will, however, continue to conduct draws periodically for entrepreneurs who qualify for the registration pool after receiving high scores.
Factors to consider include:
Sector of the business
Location of the business
Population of the community
Starting a business or buying an existing one
Updated Entrepreneur Immigration Scoring System
Besides the changes made to the invitations to apply, the British Columbia Entrepreneur Immigration score system has had some minor changes as well. The scoring system has been modified in the following ways:
To ensure entrepreneur candidates have a solid foundation for success, human capital, skills, and economic factors will be rebalanced.
Points have also been re-allocated to reflect factors that demonstrate the entrepreneur immigrants' genuineness and readiness to establish a business in British Columbia, such as exploratory visits.
The maximum score has been changed to 200 points. Business concept scores must be at least 40 points, and the total score must be at least 115 to be eligible.
Breakdown of Points
| | Breakdown of Points |
Self-Declared Section | Experience and Ownership | 24 |
| Net Worth | 12 |
| Total Personal Investment | 20 |
| Jobs | 12 |
| Development Region | 12 |
| Adaptability | 40 |
Sub-Total for Self-Declared Section | | 120 |
Business Concept | Commercial Viability | 30 |
| Transferability of Skills | 15 |
| Economic Benefits | 35 |
Subtotal for Business Concept | | 80 |
Available Maximum Score | | 200 |
Changes to the Criteria and Process of the Entrepreneur Immigration Stream
Moreover, British Columbia made some changes to its Entrepreneur Immigration process and criteria. Among the changes made are:
The residency requirement is increased to 50 km from the business location.
There must be six digits in the NAICS code that is to be submitted.
Farm-based business applicants in Canada need to meet new formal requirements. They will have to conduct their research rather than submit a third-party feasibility study.
Entrepreneurs must prove that their investments came from their funds.
Changes to contact information must be reported to the BC PNP within a specified time.
A new language has been added to the BC PNP that allows for targeted application rounds based on several identified factors.
At the time of the final report submission and until the nomination is approved, applicants must be in Canada.
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We can assist you in drafting your business plan according to the Canadian market, as well as in dealing with the needs of your business, from applying for a business license to renting a space.
A Cautionary Note: The foregoing provides only an overview and does not constitute legal advice. Readers are cautioned against making any decisions based on this material alone. Rather, specific legal advice should be obtained, and the readers are asked to refer to the government website for the most updated information.
