BC Entrepreneur
BC Entrepreneur
Like many other provinces, British Columbia seeks to attract immigrant talent that is likely to contribute to the local economy and creates immigration programs for different categories of skilled individuals who are likely to boost local economy, create employment opportunities and close the gaps in certain industries.
BC Entrepreneur program is one of British Columbia’s provincial programs that seeks to attract individuals who are experienced entrepreneur or business managers willing to invest into the province and its economy, and capable of creating jobs for British Columbians. There are two categories under the program – Base Category Program and the BC Entrepreneur Immigration regional pilot.
The cost of the program is $300 for registration, and $3500 for the application.
The difference between the two sub-programs is that the latter one requires you to get a referral from one of the eligible communities, and the expectation is that you will be investing in a specific community. There is also a difference in the eligibility requirements, which can be summarized the following way – the regional pilot has lower requirements in terms of your net worth, investment amount, and more lenient business concept requirements. However, the regional pilot requires you to make a convincing case that you are committed to settling in the given community instead of just looking to immigrate to Canada and/or BC. This can be done by visiting the community and engaging with them to ensure their endorsement.
The best resource to find out the difference between the two program categories is to look at the BC entrepreneur immigration program guide, which has the summary of the eligibility requirements for both programs on page 7.
In general, if you’re interested in the BC PNP entrepreneur program, you must have several years of experience as a business owner or a senior manager. If you are a business owner, you have to be actively involved in the business in order to demonstrate that you have the necessary experience to become an entrepreneur in BC.
You also have to meet the NET worth requirements for the sub-category you choose, and submit a business proposal. The difference between the two categories is that the Regional pilot requires you to establish a new business and to gain the support of the local community, while the general stream gives you the option of investing in an existing business anywhere in BC. Although, if you want to establish a new business under the Base Category, you’re welcome to do so. For the Base Сategory, you can also pair up with another PC PNP registrant, while this is not possible under the regional pilot. However, you can partner with a local business/businessperson under both categories if you want. Just make sure you follow the prescribed ownership percentage for the program you choose. You will have to demonstrate that your business will create jobs.
Aside from the qualifications related to your finances and your business idea, there are some additional qualities you need to possess as an individual.
Your language skills must be at CLB level 4, which is low compared to other immigration programs, but still requires an intermediate knowledge of English or French. In terms of your experience, do not have be a business owner, but you must demonstrate your capacity to manage one. Unlike some investment immigration programs, BC PNP does not allow you to just invest your money and forget about it – you must be actively involved.
BC Entrepreneur
Once you establish your eligibility under either program, you must review the BC entrepreneur guide to better understand the BC PNP entrepreneur points, every step of the application process, and ways to ensure you submit a complete application.
The BC PNP entrepreneur guide can be downloaded for both, the Base Category, and the Regional Pilot. This guide is extremely useful since it tells you things like what kind of assets can be counted towards to net worth, what kind of work experience is eligible, how to demonstrate it, and many other nuances that are important to know when submitting your application. It will also explain the BC PNP entrepreneur draw and what to expect around the timeline.
The advantages of the program are that you would be able to get a work permit and start your settlement process while your permanent residence application. However, this also means that you will need to demonstrate that your business lives up to the expectations listed in your application, and you will have to show that it meets the performance agreement outlined during the proves of your application. You will have 12 to 18 months to submit this report once you receive your work permit. Does this sound like a high pressure environment to get settled in Canada – it definitely can be. Even with a solid business plan and strong managerial skills, entrepreneurship is not a path for everyone, regardless of how successful and capable they are. So, if you are in doubt and you’re trying to decide whether entrepreneurship is the best path for someone like you – don’t hesitate to contact our team of registered Canadian immigration consultants to get help with your application and get a better idea of the immigration options best suited to your situation.
Regards,
International Experience Club
