Posted on August 12 2022
Abstract: The candidates in the Entrepreneur Immigration stream invested more than 21 million CAD in British Columbia, Canada.
Immigrant entrepreneurs who have applied for Canada PR or permanent residency in the province of British Columbia under EI or Entrepreneur Immigration stream have invested more than 21 million CAD of their funds last year into new businesses.
According to the 2021 Statistical Report of BC Provincial Nominee Program, the western province of Canada is proof of the positive impact immigrants have on British Columbia.
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In 2021, the BC PNP nominated 38 immigrant entrepreneurs for Canada PR under its EI stream. It was more than two times of the 17 entrepreneurs granted PR in 2020.
Foreign investors in the province have generated 163 new jobs and invested over 21 million CAD in personal investment.
The stream of EI of the BC PNP is prepared for experienced entrepreneurs who will contribute to economic growth and innovation in the province for the following three categories:
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The selection process for the EI stream has two steps. After the business proposal of the applicant is approved, the province grants them a work permit through which they can come to British Columbia with the status of temporary residents to operate their business.
Entrepreneurs have a period of 12-24 months, depending on the category of application to start their businesses before they are eligible for nomination.
Immigration to British Columbia rose by 144 in 2021. The Canadian authorities implemented many new measures to amplify immigration. It also includes the one-time TR-to-PR or Temporary-to-Permanent Resident program. The program accepted a maximum of 90,000 applications for Canada PR for temporary visa holders in Canada.
By late 2021, immigration to Canada improved, increasing to nearly 120%. The figure of 406,005 individuals who chose to migrate to Canada were granted PR.
In British Columbia, immigration has increased. In 2021, the province invited 69,470 new candidates for permanent residency. It was more than 144% from the last year.
Under the BC PNP, the province also has SI or Skills Immigration stream to permit the workers with the required education level, skills, and experience to immigrate to the Canadian province.
In 2021, British Columbia nominated 6,213 applicants through the SI stream. It was lesser than the figure of 6,251 in 2020. and significantly less than the figure of 6,551 in 2019.
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