British Columbia is opening a new immigration pilot program to attract foreign entrepreneurs to smaller communities around the province.
The businesses created will have to address specific needs identified by the participating community and, in exchange, the community and local partners will be required to support selected entrepreneurs as they settle.
All interested entrepreneurs must complete an exploratory visit to the community where they wish to set up their business, and must obtain a community referral before registering.
Successful candidates will be granted a temporary work permit . The BC PNP will issue a nomination for permanent residence once it determines that the business has met all the criteria outlined in its Performance Agreement.
Among other eligibility criteria, candidates must:
• conduct an exploratory community visit;
• have a minimum of $100,000 in eligible business investments;
• have a minimum personal net worth of $300,000;
• have 3+ years of experience as an active business owner-manager or 4+ years as a senior manager within the last 5 years;
• take on a minimum of 51 per cent ownership;
• create a minimum of one new job for a Canadian citizen or permanent resident of Canada.
During the exploratory visit, candidates will present their business proposal to the community’s designated pilot representative, who will then submit a referral form to the BC PNP as part of the candidate’s registration.
All candidates will receive a score upon registering and the highest-scoring will be invited to submit a full application to the BC PNP through monthly invitation rounds.
The pilot will open to registrations in early January and will run for an initial period of two years.