How does it work?
It takes about 2 months for the government to review the preliminary proposal and to schedule the interview following the submission of the business plan, it takes another 2 to 3 months. The preliminary proposal is the first to be submitted.
Once you are accepted by PNP, you have to sign the performance agreement, then you get the 2-year visa and you have to select between normal processing and fast track nomination. If you select fast track nomination, you have to provide the region of BC a refundable deposit of $125,000 then they will nominate you instantly.
It will take around 20 months for you to become a permanent resident. You will have a visa in around the 5th or 6th month although the complete processing time is therefore 20 months, and will be able to be in BC in getting your business going.
The government will send you reports to fill out every 6 months or so, and if at the end of two years, you met with the conditions of your performance agreement, you will get your $125,000 returning, but without interest.
If you don’t met with the conditions of your performance agreement, you lose your $125,000, but you get to keep your PR status.
You get the two year work permit with the normal processing, and you need to send in regular reports on your improvement. If in the end of two years you have met with your conditions of agreement, then your work permit is prolonged, and you are selected.
With the filling up of the federal form, you will be a PR in about 9 to 12 months. If you will not met with your conditions of agreement, then your work permit will not be prolonged and you must have to leave Canada.
Do Business in Quebec
Please CONTACT ICS’s business and immigration advisors to learn more about business opportunities in Canada