British Columbia has officially integrated the Entrepreneur Regional Pilot Program into its Provincial Nominee Program (PNP) as a permanent fixture, now named the Entrepreneur Immigration (EI) Regional Stream. This change provides aspiring business owners an additional pathway to establish themselves in the province.
Overview of Entrepreneur Immigration Programs in British Columbia
These programs are designed to attract international entrepreneurs who wish to start businesses in the province and stimulate innovation and contribute to the economic development of British Columbia. The EI Regional Stream, in particular, facilitates a journey from temporary residence to permanent residency (PR) for successful applicants who establish their businesses in designated communities.
Details of the EI Regional Stream
The EI Regional Stream focuses on entrepreneurs aiming to develop businesses in smaller communities, thereby supporting regional growth. Participating communities play a crucial role by identifying preferred business types and assigning community contacts to assist entrepreneurs in the early stages.
Eligibility Requirements for the EI Regional Stream:
- Launch a business that aligns with the community’s priorities.
- Possess relevant business or management experience.
- Have a personal net worth exceeding $300,000 CAD.
- Invest at least $100,000 CAD in the business.
- Create at least one full-time job for a Canadian citizen or PR.
- Attain a minimum language proficiency of CLB level 4.
- Have or be eligible for legal immigration status in Canada.
- Be legally admitted to the country of current residence.
