The British Columbia Provincial Nominee Program is launching a new immigration pilot program to attract immigrant entrepreneurs to less populated regions of the province.
The two-year pilot, called the Entrepreneur Immigration — Regional Pilot, is expected to open in early 2019. Through this pilot, the British Columbia Provincial Nominee Program (BC PNP) will partner with communities of less than 75,000 residents to facilitate the settlement of newcomer entrepreneurs.
For a B.C. community to qualify, it must be located more than 30 kilometres away from an urban center of more than 75,000 people. The pilot is designed to help smaller communities in British Columbia attract businesses that meet local needs, provide employment and contribute to the local economy.
Before registering to the BC PNP, individuals interested in the pilot need an official community referral resulting from an exploratory visit to the community where they intend to establish a new business.
Other eligibility requirements include:
- a minimum of $100,000 in eligible business investments;
- a minimum personal net worth of $300,000;
- business and/or work experience of 3+ years as an active business owner-manager or 4+ years as a senior manager within the last 5 years;
- a minimum of 51 per cent ownership of the proposed business;
- the creation of at least one new job for a Canadian citizen or permanent resident of Canada.
The BC PNP will hold an information session for communities on December 6th, 2018.
Foreign nationals looking to acquire a pre-existing business can determine their eligibility for business immigration to British Columbia under the BC PNP Entrepreneur Immigration.