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 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.
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