British Columbia province operates three major immigrant investor program under its nomination category for entrepreneurs, and business people have huge scope in developing their business in this province.
Entrepreneur Immigration Program
Under this program the british coloumbia provincial government expect certain features and traits from the external investor to make themselves eligible for investment:
- Establish a brand new business or adopt and develop an existing business within the province of british coloumbia
- Should invest a minimum of 20,000 CAD in the existing or new business
- Must create atleast one full-time job for the Canadian citizen or PR holder of this province
- Must hold a minimum networth of 6,00,000 CAD
- Relevant experience in the filed of business/management
- The candidate must be legally eligible to enter into Canada
- The applicant must pay a registration fee of 300 CAD accompanied with 3500 CAD for application fee and 1000 CAD for key staff application
Step by Step Applying Process
The concerned applicant must submit a short overview of their business plan with a non-refundable registration fee of 300 CAD. Post applying for the entrepreneurship program the candidate will have to wait for a maximum period of 6 months purely based on the credibility of the submitted business plan.
British Columbia always have scope for new business models, and they draw one every month, so an applicant has fourth months to apply for the entrepreneurship program completely. They get evaluated based on English language ability, Age and even Canadian Work Experience. The applicants have a scope to improve their points by submitting a fresh business concept.
c) Net worth Review
The applicants who have received an invitation to apply will get their net worth verified by a chartered accountant specialist who cross-checks the available funds and its supporting documents. The applicant is responsible for all the costs incurred in the process and also the spending costs in Canada.
d) Business Establishment
The selected candidate must land in British Columbia within 12 months, and their time to establish the business of 20 months starts from the day they land in Canada.
e) Nomination for Permanent Residence
Candidates and their fellow members would get a permanent residency approval from the British Columbia government provided if they have successfully met all the above criteria.
British Columbia for Entrepreneur immigration- Regional Pilot
British Columbia’s regional pilot program of immigrant investor aims regional investment on areas which are far away from the municipal boundary of the province.
a) Community Involvement
Provincial communities in British Columbia plays a crucial role in attracting foreign entrepreneurs to set up their business in regional areas.
b) BC PNP Referals
The local community is the primary source that refers to the best talents to the BC PNP, and it purely based on the interaction happened between the community and the particular entrepreneur who has the scope to establish their business in the regional province of British Columbia.
c) Community Concierge
The BC PNP communities get the complete access of rendering the concierge service from the particular provincial government.
d) Invitations and Prioritization
Candidates holding high scores will get top priority from the BC government, and they also get maximum support from the community in establishing their business.
Requirement Expected from Community
- A population of less than 75,000.
- The region must be 30 km far from the urban area of the province with a population of not less than 75,000.
- The community must have the capacity to support foreign entrepreneurs in establishing their business.
- The community members must take sheer responsibility of pilot-specific training program to the entrepreneurs.
Candidate Eligibility Criteria
- Must have the intention and scope to create a business that contributes towards the economic sustainability fo British Columbia province.
- Must have completed a prior visit to the particular regional area of BC before landing there for business development.
- Must invest not less than 1,00,000 CAD
- Must have a net worth of not less than 3,00,000 CAD.
- Should hold 51% ownership.
- At least create one job opportunity.
British Columbia Entrepreneur Immigration- Strategic Projects
The Strategic Project for British Columbia aims at inviting feasible organizations to set up their international branch in British Columbia province that would yield a win-win situation for both the players.
- Must invest a minimum of 5,00,000 CAD to either establish or acquire any business within the province of British Columbia.
- Must create at least 3 job opportunities for Canadian citizens or permanent residents of Canada for every single foreign employee working under the firm.
- Establish or acquire a firm within the provincial boundary limit of British Columbia.
To get to know more about British Columbia Investor Program