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Posted on March 15 2019

BC Canada launches the EIRP for overseas entrepreneurs

By Editor
Updated May 10 2023

British Columbia province in Canada is starting a program for overseas entrepreneurs under the British Columbia Provincial Nominee Program. It is the Entrepreneur Immigration Regional Pilot Program. This will encourage immigrants to launch businesses in cities with less population. These will also be at a distance from the urban areas.

Jobs, Trade and Technology Minister Bruce Ralston said that there are 30 city mayors who are already on board for the program. The EIRP supports communities in the regions to attract overseas entrepreneurs. These must possess the intention to launch a business, create employment and settle in the regional areas. They must also be willing to contribute to the local economy where they reside, he added.

Many Immigration Experts have asked Canada to launch special incentives. This is to encourage immigrants to move to small towns. They also noted that 80% of them land up in the major cities in Canada, as quoted by the CIC News.

Ralston said that the program has been designed to make individuals commit to small regional communities. They will be required to launch a business and reside there for at least 12months. Canada PR status application can then be filed by them that will normally take another 18 months, he added. 

Upon getting PR status they are free to move anywhere in Canada legally, said the Minister. However, they would have already set up a business in an affectionate community. They would be in the company of an enthusiastic community and find it tough to leave, said the Minister.

The EIRP requires inclined overseas entrepreneurs to arrive at the community for an exploratory visit. They must invest at least $100,000 in their business and possess $300,000 of personal net worth. Minimum of 51% of ownership must also be taken by them along with creating a job for minimum 1 citizen of Canada.

Y-Axis offers a wide range of visa and immigration services as well as products to overseas immigrants including Business Visa for CanadaWork Visa for CanadaCanada Migrant Ready Professional Services for Express Entry Full ServiceCanada Migrant Ready Professional Services for Express Entry P R Application,  Canada Migrant Ready Professional Services for Provinces, and Education Credential Assessment. We work with Regulated Immigration Consultants in Canada.

If you are looking to Study, Work, Visit, Invest or Migrate to Canada, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.

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