Canada to launch new Immigration Program for Entrepreneurs

British Columbia, a province in Canada is about to launch a new Immigration Program. The program is being called Entrepreneur Immigration - Regional Pilot. It is a 2-year initiative. Overseas Entrepreneurs are welcome to avail of this opportunity from early 2019.

The Immigration Program is part of the British Columbia Provincial Nominee Program (BC PNP). The pilot program will work in partnership with local communities in the province. The communities should be located more than 30 Kms away from any population center. They should possess less than 75000 people to be eligible to welcome Overseas Immigrants.

BC PNP said the local communities are facing challenges because of their aging populations. Younger workers do not have enough opportunities. The initiative is aimed at improving the economic condition of the province. Also, the Government believes the Immigration Program would create new jobs. Eventually, the country’s economy will benefit as well.

BC PNP stated that both Entrepreneurs and the local communities will benefit from each other. The businesses created must address certain needs of the communities. On the other hand, the communities must support the Immigrants as they settle in the country.

Eligibility criteria

• Every Overseas Entrepreneur must visit the community before applying for registration
• They must be ready to invest at least $100,000
• Their net worth should be more than $300,000
• They must possess 3-4 years of experience as an active Entrepreneur
• They should be willing to take on a minimum of 51 percent business ownership
• Their business must create at least 1 job for a Canadian citizen

The process

The Immigrants must follow a process to avail of the Work Permit through this Immigration Program.

• At first, Immigrants will complete an exploratory visit to the local communities
• They will then submit a referral form to the communities’ Immigration Program representative
• Then they must submit their registration
• The candidates will be scored based on the Immigration Program’s criteria
• The ones with the highest score would receive a Temporary Work Permit
• BC PNP will offer a nomination for Permanent Residency only after the created business meets all the criteria of the Immigration Program

BC PNP has declared that it would reduce its investment criteria for this Immigration Program. As quoted by CIC News, the personal net worth requirement will be low as well. The registration process will commence in January 2019. The Immigration Program will be effective for 2 years.

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