BC PNP Base Program Business Plan

The process through the base program can be summarized as follows:

• Preparation and research: Before applying to the BC PNP - Base program, you must first determine your eligibility based on the stream requirements. It is recommended to conduct an exploratory visit to British Columbia to learn about business opportunities, the local market, and find the most suitable community to establish your business.

• Registration to the BC PNP: Create a profile and submit an online registration to the BC PNP, providing details about your work and/or business experience, education, language ability, net worth, and information about your proposed business in British Columbia. Registrations are typically scored within six weeks, and if invited to apply, you will have four months to submit your application.

• Application to the BC PNP: Submit a complete application to the BC PNP, and you may be invited to attend an in-person interview in Vancouver, B.C., to discuss the details of your application. If approved, you'll sign a performance agreement outlining the requirements you must meet to be nominated. Applications are usually assessed within four months, and upon approval, you'll receive a letter of confirmation (work permit support letter) to apply for a work permit from IRCC and begin implementing your business plan in B.C.

• Business establishment (work permit) period: After obtaining a work permit, you can start implementing your business plan, making investments, and creating jobs in British Columbia. Additionally, your spouse or common-law partner may apply for an open work permit.

• Nomination: Once you fulfill the terms and conditions of your performance agreement, you must submit a Final Report to the BC PNP. If the BC PNP determines that you have met the requirements, you will be nominated for permanent residence. Final Reports are typically assessed within four months.

• Application for permanent residence: After receiving the nomination, you, along with your spouse or common-law partner and dependent children (if applicable), may apply to IRCC to become permanent residents of Canada under the Provincial Nominee class.

The business plan for the BC PNP undergoes a thorough assessment to evaluate its suitability and viability. The assessment process involves reviewing various aspects of the business plan, including its content, adherence to program requirements, and overall feasibility. Factors such as the alignment of the plan with program guidelines, the commercial potential of the proposed business, market analysis, risk management strategies, financial projections, and the applicant's qualifications are considered during the assessment. Additionally, the appendices, including investment breakdown, pro-forma financial statements, resumes, and relevant documents for purchasing an existing business or franchising, are evaluated to ensure compliance and provide further insights into the plan's viability. The assessment aims to determine if the business plan demonstrates a strong potential for success and contributes to the economic development priorities of the BC PNP.

The following supporting documents are required for the BC PNP application:

• Net Worth Review by a BC PNP-authorized accounting firm

• Two years of personal bank account statements

• Biographical and signature pages of passports for the applicant, spouse/common-law partner, and dependents

• Identity and civil status documents, such as birth certificates, marriage certificates, and divorce or separation certificates (if applicable)

• Educational certificates and academic transcripts

• Evidence of business ownership and/or senior management experience, including personal income tax returns, reference letters from employers, evidence of authority to sign banking documents, business registration licenses, and business-related items

• Evidence of official language ability (if applicable), such as valid language test results

• Evidence of exploratory visits to British Columbia (if applicable), including photographs, hotel bills, and transportation receipts

• Evidence of previous Canadian experience (if applicable), including work permits, study permits, T4 forms, and evidence of business ownership

• Additional Family Information Form [IMM5406] for the spouse/common-law partner (if applicable)

• Schedule A Background Declaration Form [IMM5669] for the spouse/common-law partner (if applicable)

• Updated Schedule 4A Form with accumulation of wealth narrative

• Business plan, including the required appendices

• Supporting documents for franchise businesses (if applicable), such as franchise agreements and disclosure documents

• Supporting documents for partnerships (if applicable), such as resumes of local partners and information about local businesses involved.

Please note that the document preparation guidelines should be followed, including certified translations if documents are not in English, uploading documents in the appropriate sections as PDF files, and maintaining personal copies of all documents.

Eligible

To be eligible for the BC PNP - Base program, you must propose to establish a new business or purchase and improve an existing business that contributes to the economic growth of the province. Franchises may also be considered eligible if they meet specific criteria, such as being well-established and having the necessary support from the franchisor.

Ineligible

The following types of businesses are ineligible for the BC PNP - Base program:

• Immigration-linked investment schemes

• Businesses with redemption options in their investment terms

• Businesses that may be considered passive investments

• Bed and breakfasts, hobby farms, and home-based businesses

• Payday loan, cheque cashing, money changing, and cash machine businesses

• Pawnbrokers, tanning salons, DVD rental stores, coin-operated laundries, automated car wash operations, and scrap metal recycling businesses

• Businesses selling used goods without value-added services

• Real estate brokerage, insurance brokerage, and business brokerage

• Real estate development activities

• Goods trading businesses (e.g., import/export) without demonstrated value-add

• Businesses involved in producing, distributing, or selling pornography or sexually explicit products or services, or providing sexually oriented services

• Any other type of business that may bring the BC PNP or the Government of British Columbia into disrepute.

The BC PNP will not consider a business proposal for a seasonal business unless you can demonstrate that you will be physically present in British Columbia and will perform an active management role on a year-round basis.

Yes, if you are proposing to establish a new farm/agricultural business or purchase an existing one, there are additional requirements. Your business plan should address the issues described in the document "Taking Stock: A Farm Business Planning Workbook For The Beginning Farmer" prepared by the Ministry of Agriculture. Additionally, your plan must demonstrate that you have thoroughly researched the feasibility of your farming operation and have established contact with relevant local stakeholders who can provide support to your enterprise.

Yes, some industries face significant regulatory requirements in Canada. While many of these highly regulated industry sectors remain eligible for the BC PNP, entrepreneurs must demonstrate that they are aware of and will be able to meet local, provincial, and federal regulatory requirements. Failure to adequately research and address these requirements may impact the approval of the application and meeting performance agreement obligations. Examples of highly regulated industries include agriculture, cannabis, financial services, healthcare, oil and gas, telecommunications, and more.