Know about British Columbia Entrepreneur program

Posted on March 16, 2019

British Columbia, Canada’s westernmost province has decided to run a two-year pilot program for attracting foreign entrepreneurs. The motto of this project is to attract experienced entrepreneurs to work in small communities around the province. Entrepreneur immigration pilot project is active now and interested entrepreneurs can obtain communality referrals now. This project is built to help small and remote communities in British Columbia to attract business and create job opportunities. The project became operative from 14th March onwards.

The experienced overseas entrepreneurs have to apply through the Entrepreneur immigration-Regional pilot program. Under this program, they will receive a temporary work permit. They can apply for provincial nomination to obtain the Canada permanent residency status. However, they must prove their eligibility before they receive PR.

This project is mainly designed for the communities with population less than 75,000 and is located at least 30 km away from the main cities. This project will help them overcome the demographical problems that they are facing. 30 communities are already part of the project and are ready to refer eligible candidates for British Columbia PNP.

According to Bruce Ralston, British Columbia’s Minister of Jobs, Trade, and Technology, the workforce is aging and the young people are city bound in search of a better lifestyle.  These provinces are failing to boost their economy. New business opportunities will create new jobs and help to stabilize their economy.

How does the Entrepreneur immigration pilot work?

The entrepreneurs must gauge their eligibility before applying for the project. They have to pay an explanatory visit to the province they wish to work. They have to place their proposal in front of the project representatives and also inform them about all the required details about his business, experience and net worth.

However, the investment criteria and the net worth have been lessened for this project compared to the base Entrepreneur immigration program.  Below are the eligibility criteria for the project

  • Minimum $100,000 in eligible business investments
  • Personal net worth should be $300,000
  • Must have experience of over 3 years as a business owner or over 4 years of experience as a senior manager within the last five years
  • Should be eager to take a minimum 51% ownership
  • Create at least one new job for Canadian citizens
  • Must be proficient in English or French with Benchmark (CLB4)

The applicants will be gauged and assigned a score. Based on this score he/she will be invited to apply for the British Columbia PNP. The processing time for the application is around 4 months and the selected candidates will be called for a face to face interview in Vancouver. The approved candidates must sign an agreement with all criteria documented. On meeting these criteria, he/she will be considered for the Canada PR.  The selected candidates will receive a support letter on behalf of the British Columbia PNP after which he/she can apply for the two-year temporary work permit. The entrepreneurs who according to the government of Canada will meet the documented criteria will be nominated for the Canada PR.

For more information on Entrepreneur immigration and Canada immigration and visa related services, contact Kansas Overseas Career today.