British Columbia Introduced Two Regional Pilot Programs To Attract Entrepreneurs For BusinessPosted On: Sat, Mar 16 2019
The British Columbia province introduced new two regional pilot projects on March 14 to help smaller, more remote communities in the province to attract new businesses and create jobs. Experienced Entrepreneurs approved through the Entrepreneur Immigration- Regional Pilot receive a temporary work permit to start their business and can later apply for provincial nomination for Canada PR provided they meet the eligibility conditions in their performance agreement.
The pilot is meant for regional communities of less than 75,000 people that are located more than 30 kilometers from a larger population center. It was created to address the demographic and economic challenges that many of the cities and towns are facing.
The pilot program is joined by more than 30 communities that are now in a position to begin referring eligible candidates to the British Columbia Provincial Nominee (BC PNP) for consideration.
In order to apply, the communities must have the required support services in place to help business owners and their families settle.
"Due to an aging workforce and a preference for city living, some smaller towns can face challenges growing their local economies," said British Columbia's Minister of Jobs, Trade, and Technology, Bruce Ralston. He also added, "This pilot will attract new businesses that create jobs and spread investment around the province."
How does the pilot program work?
All interested entrepreneurs willing to apply in the pilot project must assess their eligibility for the program and complete an exploratory visit to the community where they wish to set up their business.
During the exploratory visit, candidates will present their business proposal to the community’s designated pilot representative. After the visit, the entrepreneur may request a referral from the community in order to register under the pilot. As part of the registration process, candidates must submit details about their work and/or business experience, education, language ability, net worth and information on the proposed business.
The British Columbia Provincial Nominee Program says the net worth and investment criteria have been reduced for the pilot compared to its base Entrepreneur Immigration Category. This reflects the lower costs of starting a business and settling in B.C’s regions compared to Vancouver and the province densely populated urban centers.
The eligibility criteria for applying under this pilot project are as follows:
- Have a minimum of $100,000 in eligible business investments
- Have a minimum personal net worth of $300,000
- Have 3 plus year of experience as an active business owner-manager or 4 plus years as a senior manager within the last five years
- take on a minimum of 52 percent ownership
- create a minimum of one new job for a Canadian citizen or permanent resident of Canada
- have a minimum proficiency in English or French equal to CLB 4
The applications are usually assessed within four months and applicants may be invited to attend an in-person interview in Vancouver to discuss the details of their application.
The approved applicants are asked to sign a performance agreement with the BC PNP that outlines all the criteria that must be in order to be nominated for Canadian Permanent residence. The successful applicants receive a work permit support letter from the BC PNP and can later apply to the Canadian Government for a two-year temporary work permit.
British Columbia Provincial Nominee Program (BC PNP) is one of the popular provinces of Canada inviting skilled and qualified workers to come and settle in the province on a permanent basis. Check your eligibility by filling the Canada Assessment form. One of the experts will contact you soon to discuss the Canada PR query.