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Can I use bank loans to establish a business in British Columbia and apply for permanent residency in Canada?

I want to apply for British Columbia’s PNP program by establishing a business in this province. Can I use my assets as collateral to get bank loans for this investment? Is this an acceptable source of funds?

  • Lerom Law Firm
    January 22, 2020

    The BC PNP requires that you make the minimum eligible personal investment from your personal funds. However, you may also use external financing from a business partner or financial institutions for investments beyond the minimum requirement. If external financing is a requirement of business operations, you must identify how you will obtain the financing and how it will be applied in your proposed investment. BC is currently running two PNPs for entrepreneurs - Base Category and Reginal Pilot.