BRITISH COLOMBIA LAUNCHED PNP ENTREPRENEUR REGIONAL PILOT TO ATTRACT NEW BUSINESSES

British Columbia has launched BC PNP Entrepreneur Regional Pilot to uplift small communities by attracting experienced entrepreneurs to start a business and create jobs in the region. Launched on March 14, 2019, the BC PNP Entrepreneur Regional Pilot is created to meet the demographic and economic challenges faced by small communities and spread investment with the help for entrepreneurs.

How it works

BC PNP Entrepreneur Regional Pilot designed only for communities with a population of less than 75,000 and are located more than 30 kilometers from a larger population center.

Entrepreneurs who are interested in migrating to Canada through BC PNP Entrepreneur Regional Pilot will have to access their eligibility for the program. Around 30 communities have joined the pilot and have already started referring eligible candidates to the British Columbia Provincial Nominee Program.

Eligibility Criteria:

  • Conduct a mandatory community visit.
  • A minimum of $100,000 in eligible business investments and personal net worth of $300,000.
  • A minimum of 51 percent ownership.
  • Create a minimum of one new job for a Canadian citizen or PR of Canada.
  • A minimum proficiency in English or French equal to Canadian Language Benchmark (CLB) 4.

The entrepreneurs who register for BC PNP will be awarded a score based on certain parameters. The highest-scoring candidates will be invited to submit a full application to the BC PNP through monthly invitation rounds. The applications will be assessed within four months and selected candidates will be then invited for an interview in Vancouver. The entrepreneurs who will receive approval will have to sign a performance agreement with the BC PNP that outlines all the criteria required for Canadian permanent residence.

The candidates who receive a work permit support letter from the BC PNP and meet the T&C of their performance agreement can start a business and will be nominated for Canadian permanent residence respectively.

Categories

Immigration Update

Tags

Immigration News Immigration Services Immigration Visa Consultant