British Columbia PNP Plans
BC PNP Business Immigration
BC’s PNP has condensed the two earlier categories of Business Skills and Regional Business into one stream called Entrepreneur Immigration. It is now a two-stage process. First you submit an online application, then if your client gets a high score, they are invited to submit a complete application. The initial registration application must be made online. The applicants that score highest will be invited to submit detailed applications. Any potential business immigrant must meet the following requirements:
Entrepreneur Immigration Requirements
- General Nomination Requirements
- Must be involved in active and ongoing management of the day-to-day business operations
- Must reside in BC for at least 75% of time, while on work permit.
- Must be admissible to Canada
- Personal Requirement
- Personal net worth of at least $600,000
- 3 years business ownership and/or 4 years senior management experience
- Post secondary degree or active business owner
- Business Requirements
- Establish a new business or purchase and improve an existing business
- Investment Requirements
- Invest at least $200,000 in the business
- Job Requirements
- Create at least one new full-time job for a Canadian citizen or permanent resident in the business
Stage 1 – Online Application
A Business Concept plan is required for the initial application. It must be a well-written document of 1,000 to 1,500 words. (This whole web page is about 700 words.) It must cover all of the factors laid out in the program guide, including:
- Description of business and its operations
- Competitive analysis
- Elaboration of proposed investments, and rationale for major investment items
- Human resources, including job creation/maintenance details
- The client’s skill set and experience
- An assessment of business viability under the client’s management
- The client’s proposed role in the business
- Due diligence activities
- Potential risk factors
Most importantly, the business concept plan must prove that the business has strong potential for sustained commercial success.
There are additional requirements if an existing business is being purchased.
It’s worth up to 80 points if you get this right and have a well-written, first class Business Concept document. That’s 40% of the maximum score. Have business experience, invest $400,000, create at least three jobs in the right location, and have a reasonable net worth, and that’s another 60 points. We really understand the detailed requirements and will make sure that your clients get the maximum points that they can get for this part of the application. We have written dozens of immigration plans and are very creative in getting extra points for Overall Economic Benefits including: Industry Sectors, Significant Economic Benefits, Skilled Jobs, and Regional Development.
Stage 2 – Complete (Detailed) Application
When the online application gets selected, you are invited to submit a detailed application including a comprehensive Business Plan. This full Business Plan includes among other information, details on the following:
- Business Overview
- Corporate and Ownership
- Market Analysis
- Risk Analysis and Risk Management
- Governing Laws and Regulations
- Investment Analysis
- Pro-forma Income Statements for Three Years
- Pro-forma Balance Sheets
- Financial Assumptions
- Operational Cost Analysis
- Break Even Analysis
- Return on Investment
This is a serious business plan and to avoid confusion, it should agree very closely with the Business Concept plan submitted with the Stage 1 application. The British Columbia PNP requirements make it obvious that you need two first-class business documents. You need a great Business Concept document to pass Stage 1, plus a solid Business Plan for the second stage. You and your clients are investing a lot of money in their application and the business investment. Hundreds of thousands of dollars! Do your clients want the cheapest plan or a plan that works? Not only must the plan have a certain format, it must be believable. Many business plans that are submitted to the BC PNP office are not good quality business plans. In fact, we have been hired to rewrite other firms’ PNP plans. Why would you risk the application being rejected? Make sure that you submit a professional quality Business Concept and then follow up with a well-written, believable PNP Business Plan that meets or exceeds the strict provincial standards.
Building real PNP business plans for real businesses.
* November 2019