British Columbia immigration’s Entrepreneur Immigration Regional Pilot has been extended for three more years, until March 31, 2024.
The extension will “help communities welcome new entrepreneurs to their regions, and be well positioned to support recovery post-pandemic,” said a statement from the British Columbia Provincial Nominee Program (BC PNP).
The Regional Pilot aims to attract motivated and experienced entrepreneurs to open a business in smaller communities of British Columbia and contribute to their specific labour needs.
It was initially a two-year pilot, with enrolment opened in early 2019.
British Columbia reports 65 communities sign up in the initial pilot phase. “Many will receive new entrepreneurs in their communities once international travel restrictions are lifted,” the statement said.
“Over the past two years, it has demonstrated its ability to attract entrepreneurs from around the world and to contribute to regional economic development needs, despite the impacts of COVID-19.”
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Entrepreneur Immigration Regional Pilot
Eligibility Requirements for Candidates
- Net worth of minimum $300,000.
- Minimum of $100,000 in eligible business investments.
- Minimum of 51% ownership in the new business.
- Canadian Language Benchmark Level 4 In English or French in each of the four competencies: listening, speaking, reading and writing.
- Create at least one new full-time job for a Canadian citizen or permanent resident.
- Conduct an exploratory visit in the target community
Eligibility Requirements for Communities
- A population of fewer than 75,000 people.
- Located beyond 30 km of a municipality of more than 75,000 people.
- Demonstrate capacity to support the entrepreneur through a network of established settlement and business support agencies.
Program Key Features
- Community Involvement: Participation communities are actively involved in attracting foreign entrepreneur, and helping them settle after arrival.
- BC PNP Referrals: Communities can refer foreign entrepreneurs to the BC PNP. The candidates must have visited the community and have a business proposal aligned with its economic priorities.
- Community Concierge: Participating communities have access to the services of a dedicated BC PNP Community Concierge.
- Invitations and Prioritization: Referred candidates register is a separate BC PNP pool. Monthly invitations are issued to the best scoring candidates. Those invited received priority processing.