The BC PNP has two options through the business immigration stream – the Fast Track nomination option and the regular process. As of November 15, 2012, the government is suspending the Fast Track option as it reviews the effectiveness of the program.
Under the Fast Track option, business applicants who had obtained a PNP-supported work permit and had arrived in BC could request immediate nomination for permanent residence if they posted a $125,000 bond with the Province. The bond would be refunded once the applicant met his or her obligations under the program.
Under the regular process, there is no performance bond and applicants are only nominated once they have established a business.
Since 2007, 26 Fast Track nominees have completed their performance agreements compared with 261 business applicants who have gone through the regular process.
Although BC is suspending the Fast Track option while the review is being conducted, this will have no impact on the regular process in the business immigration stream. This change will have an impact on some immigrants, but for the vast majority of immigrants under the business stream of the BC PNP, BC remains open for business.