Over $21 million invested in 2021 by overseas investors that created 163 jobs in BC

Key aspects about the immigrant investors

• British Columbia's Entrepreneur Immigration (EI) stream has invested over $21 million
• BC PNP has created 163 new job opportunities and invested over $21 million in total personal investment.
• The Entrepreneur Immigration stream under the BC PNP has been introduced specially for experienced entrepreneurs
• British Columbia immigration increased by 144% in 2021
• British Columbian immigration officials issued 11,582 ITAs through that registration pool in 2021

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Overview:

From the British Columbia Provincial Nominee Program Statistical Report 2021, the westernmost province in Canada, gives us a quick look at the favorable contributions of immigration to British Columbia. British Columbia's Entrepreneur Immigration (EI) stream has invested over $21 million into new businesses to acquire permanent residency in British Columbia.

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An investment of $21 million

In 2021, British Columbia's Entrepreneur Immigration (EI) stream has invested over $21 million into new businesses to acquire permanent residency in British Columbia.

From the British Columbia Provincial Nominee Program Statistical Report 2021, the westernmost province in Canada, gives us a quick look at the favorable contributions of immigration to British Columbia.

In 2021, the BC Provincial Nominee Program (PNP) issued 38 Invitations to Apply (ITAs) to entrepreneurs who wish to apply for Canadian permanent residency through its EI stream, twice as many as the 17 entrepreneurs who were nominated in 2020.

BC PNP has created 163 new job opportunities and invested over $21 million in total personal investment.

The Entrepreneur Immigration stream under the BC PNP has been introduced specially for experienced entrepreneurs who can aid and promote economic growth and innovation in the province. The EI stream has three categories:

• Regional pilot
• Strategic projects
• Base

According to the Statistical Report, "The selection process consists of two steps. If the business proposal of an entrepreneur is authorized, the province approves their application for a work permit that permits them to arrive to B.C. as a temporary resident to initiate and establish their business plan."

"Thereafter, the Entrepreneurs have a particular period of (12 and 24 months, based on the category of application) to implement their businesses before they hold the nomination eligibility."

The Canadian province, British Columbia, has been offering an annual report of its Provincial Nomination Program for the last five years.

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However, immigration to Canada, including British Columbia, slowed down in the first year due to the pandemic and rebounded strongly in 2021.

In the first year of the pandemic, the figures from Immigration, Refugees and Citizenship Canada (IRCC) showed that immigration to Canada has decreased by 45.9 percent, from 341, 175 from its new permanent residents in 2019 to 184,585 the following year.

British Columbia immigration increased by 144% in 2021

Immigration to British Columbia has struggled a similar loss, falling 43.3 percent from 50,230 new permanent residents throughout 2021 before the pandemic to only 28,480 in 2020.

Thereafter, Ottawa has introduced multiple new measures to improve the immigration, including the one-time Temporary-to-Permanent Resident (TR-to-PR) program that was ready to accept up to 90,000 applications for permanent residency from the individuals with temporary visas in Canada.

By the end of 2021, immigration in Canada had jump-started and was effectively functioning at 120 percent to hit 406,005 new permanent residents in just one year.

Immigration skyrocketed in British Columbia as well, where the province invited 69,470 new permanent residents, up almost 144 percent from its previous year.

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Subject to the BC PNP, the province also has a Skills Immigration (SI) stream that allows workers with the education, experience, and skills which are mostly required by employers to migrate to the province.

In 2021, British Columbia sent only 6,213 invitations under the SI stream, which was less than the 6,251 in 2020 and even less than the 6,551 in 2019.

"BC PNP has made many temporary changes to address the impact of the pandemic, and most of those measures have ended before 2021, " states the report.

"The one primary change that pushed forward into 2021 was a temporary policy where the registrations in 31 occupations under hospitality, tourism, personal services, and retail have not been provided the eligibility to receive invitations to apply until further notice, which was later removed in February 2021."

Applicants under BC PNP applied for Ottawa’s TR-to-PR pathway

“The federal government has introduced a temporary to permanent resident pathway in 2021, with a given limited-time for a few temporary residents who were already working in Canada to directly apply to the federal government to become permanent resident without the necessity of BC PNP,” states the report.

“For that reason, the BC PNP saw a high number of applications withdrawn in 2021 as it did in 2020, but many of those applicants wer looking for an opportunity to migrate to British Columbia.”

The Skills Immigration stream has five categories:

• Skilled Worker
• International Post-Graduate (IPG)
• International Graduate (IG)
• Entry-Level and Semi-Skilled (ELSS)
• Healthcare Professionals (which has become the Health Authority category in March, 2022)

The British Columbia province makes use of an online, points-based Expression of Interest (EOI) system to manage the applications for IG, ELSS, and Skilled Worker categories that scores the applications based on six primary factors:

• Language skills
• Job location
• Experience
• Occupation
• Salary being offered by a British Columbia employer
• Level of education

The EOIs are entered in a pool after scoring and these are stored for up to one year. To proceed with the application stage, a registrant needs to receive an Invitation to Apply (ITA).

British Columbian immigration officials issued 11,582 ITAs through that registration pool in 2021, but that only led to 6,768 applications, a conversion rate of 58.4 per cent.

With the other BC PNP programs that don’t require registration, the province received a total of 7,976 applications through the SI stream last year, about 2.1 per cent less than the 8,148 in 2020.

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Skilled Immigration applications have decreased compared to 2020

The most in-demand type of occupations for those individuals, immigrating to British Columbia under the SI stream, were present in the natural and applied sciences, that is due partly to the still-new BC PNP Tech.

According to the report, “In 2020, about a quarter of nominees have been listed under the occupational category, which saw high profits in transport, equipment operators, and trades, which have risen from a 13 percent share of 2020 and the SI nominees to a 16.4 percent share of 2021 nominees. The current recovery of the restaurant and retail sectors from the pandemic also caused a fair increase in the share of service workers and sales, from 12.8 to 14.3 percent.”

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