Posted on April 08 2020

BC PNP invites 18 entrepreneurs in latest draw

By
Anshul Singhal
, Editor

Updated May 10 2023

BC PNP invites 18 entrepreneurs in latest draw

In its latest draw, the province of British Columbia in Canada issued 18 new Invitations to Apply [ITAs] to candidates that had their profiles registered in the Entrepreneur Immigration – Regional Pilot category. The minimum score required in this draw was 107 which is the lowest score requirement for this stream since October 2019. This is the fifth draw held in 2020 by the BC PNP for Entrepreneur Immigration stream. With this, 62 entrepreneurs invited so far in 2020. Entrepreneurs that wish to move to Canada and settle down in British Columbia can apply under the British Columbia Provincial Nominee Program’s [BC PNP’s] Entrepreneur Immigration [EI] stream. The EI stream under BC PNP is for those experienced businesspeople that are looking for a pathway to Canada immigration and are willing to settle in BC. Along with settling in BC, such entrepreneurs should invest in as well as operate a commercially viable business beneficial to the provincial economy. These are two separate pathways or categories available under the Entrepreneur Immigration stream. These are –

Entrepreneur Immigration – Base Category For an experienced entrepreneur that intends to establish a new business or take over and expand an existing business in BC.

Entrepreneur Immigration – Regional Pilot For attracting entrepreneurs to participate in regional communities for establishing new businesses corresponding to the economic development needs of BC.

Launched in 2019, the EI – Regional Pilot was launched with the aim of enabling communities to actively participate in attracting foreign entrepreneurs to the province. Foreign entrepreneurs targeted in this Pilot should have business concepts that are in alignment with the economic priorities of BC. It is the communities participating in the EI – Regional Pilot that refer the foreign entrepreneurs to the BC PNP. The foreign entrepreneur is expected to personally visit the community and put forward their business proposal to the designated pilot representative of the community. It is this representative that will then submit a Referral Form to the BC PNP on behalf of the entrepreneur. Eligibility requirements for BC PNP Entrepreneur Immigration – Regional Pilot –

Visit	Exploratory visit to the community
Investment	Minimum $100,000 in eligible business investments
Net worth	Minimum personal net worth of $300,000
Experience	3+ years of experience [active business owner-manager] OR 4+ years of experience [senior manager] Experience should be within the previous 5 years.
Ownership	Must take on a minimum of 51% ownership
Job creation	Create a minimum of one new job for Canadian permanent resident or citizen

All candidates are allotted a score upon successful registration. It is the highest-scoring candidates that get an invitation through the monthly invitation rounds. Invitations are issued for submitting a full application to the BC PNP. As compared to the EI – Base Category, the investment and personal net worth criteria are lesser in EI – Regional Pilot. Thus, lower costs are involved for starting a business and settling in the smaller communities of BC when considered against the costs for setting up a similar business in the urban centres of the province. If you are looking to Migrate, Study, Invest, Visit, or Work Overseas, talk to Y-Axis, the World’s No. 1 Immigration & Visa Company. If you found this blog engaging, you may also like … 2020 starts off as a big year for Express Entry

Apply Now

Tags:

Canada immigration news