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SINCE its launch in 2015, the BC Provincial Nominee Program Entrepreneur Immigration (PNP – EI) Base category has enabled foreign entrepreneurs to establish their assets in the province with a minimum investment of 200,000 CAD. On July 19, it was announced that the EI – Base category will temporarily pause the intake of new registrations.
The COVID-19 pandemic has allowed the B.C. government to pause and review the EI – Base category. The sole purpose of this temporary halt is to ensure the program continues to meet its objectives effectively, especially in terms of optimizing applicants’ success, supporting economic recovery, and creating jobs.
Key takeaways from EI – Base category’s registration adjustment:
- The change is temporary and will resume after the B.C. government;
- The change will take effect immediately until further notices are given in the beginning of 2022;
- Individuals who have already submitted a registration or application will not be affected by the pause;
- Registration for the Entrepreneur Immigration – Regional Pilot (EIRP) and Strategic Projects (SP) category will not be affected;
- All Skills Immigration (SI) categories remain open.
In recent years, the EI – Base category has been one of Canada’s most popular business immigration programs, especially to those entrepreneurs from the Greater China Region. Note again that B.C.’s decision to pause the program is a temporary strategy that allows the province to focus on controlling COVID-19 cases, as well as devising comprehensive agenda for post-pandemic economic recovery.
As for our prospective foreign entrepreneurs interested in investing in B.C., it is best to make any necessary preparation for EI – Base category’s recommencement in 2022. Alternatively, entrepreneurs are welcome to apply under the Entrepreneur Immigration – Regional Pilot (EIRP) category, which requires a minimum investment of only 100,000 CAD. If the province delivers further information regarding EI, we will update our news accordingly.