British Columbia Opens the Entrepreneur Regional Pilot involving 30 Communities

Mar 19 2019
British Columbia Opens the Entrepreneur Regional Pilot involving 30 Communities

30 communities in British Columbia registered to participate in the new Entrepreneur Immigration Regional Pilot of the province.

The details

This is a two-year pilot of the BC Provincial Nominee Program having an aim of attracting entrepreneurs for establishing flourishing businesses in small communities which have a population below 75,000. These communities face issues regarding shrinking labor markets and an aging population. Additionally, the requirements in Investment and Net Worth for this Pilot are half of the stipulated requirements in the main BC Entrepreneur stream. Bruce Ralston, Provincial Minister of Jobs, Technology, and Trade stated that owing to the aging workforce and a liking for urban living, small towns face a challenge to grow their local economies. This pilot also has the aim to attract fresh businesses which create jobs and help in spreading investments around the province. This will set more people to take the benefit from the resultant prosperity.

The basic structure

Under the Regional Pilot, candidates need to invest $100,000, and also have a net worth of $300,000. They also have to create one job for a permanent resident/Canadian citizen. The Pilot is specific only for entrepreneurs who wish to start a new business. The persons interested in purchasing an existing business have to opt for the main Entrepreneur Immigration stream.

B.C. Entrepreneur Immigration – Regional Pilot

Features

1) Community Involvement

Participating communities need to be involved actively in attracting the overseas entrepreneurs, and must also extend all help to them in settling after they arrive.

2) BC PNP Referrals

Furthermore, Communities can also refer these overseas entrepreneurs to the PNP. The candidates have to visit the community earlier and also align their business proposal with the economic priorities of the province.

3) Community Concierge

Participating communities can access the services of a PNP Community Concierge.

4) Invitation and Priorities

Referred candidates will get the registration in a separate pool of BC PNP. It will also issue Monthly invitations to the candidates having the best score and also receive priority processing.

Community Requirements

  • Population below 75,000.
  • The location has to be beyond 30km from a municipal area having a population exceeding 75,000.
  • Proven capacity for supporting overseas entrepreneurs and a network of settlement and business support agencies.
  • Immigration and training specific to the pilot must be completed by the representatives.

Requirements for Candidate

  • Intention to start a business and settle in a regional community of the province.
  • Completion of an exploratory visit.
  • Investments of $100,000 in an eligible business.
  • A personal net worth of $300,000.
  • Having the 51 percent ownership.
  • Creation of one new job.

Enrolled Communities by Development Region

Cariboo

  • Mackenzie
  • Prince George
  • Quesnel
  • Williams Lake

Kootenay

  • Castlegar
  • Kimberley
  • Nelson
  • Regional District of Central Kootenay (Area J)
  • Rossland
  • Trail

Mainland/Southwest

  • Gibsons
  • Sechelt
  • Squamish
  • Sunshine Coast Regional District Egmont and Pender Harbor (Area A)
  • Sunshine Coast Regional District Halfmoon Bay (Area B)
  • Sunshine Coast Regional District – Roberts Creek (Area D)
  • Sunshine Coast Regional District – Elphinstone (Area E)
  • Sunshine Coast Regional District – West Howe Sound (Area F)

Nechako

  • Burns Lake

North Coast

  • Terrace

Northeast

  • Tumbler Ridge

Thompson-Okanagan

  • Barriere
  • Merritt
  • Vernon

Vancouver Island/Coast

  • Comox
  • Comox Valley Regional District – Baynes Sound – Denman/Hornby Island (Area A)
  • Comox Valley Regional District – Lazo North (Area B)
  • Comox Valley Regional District – Puntledge – Black Creek (Area C)
  • Courtenay
  • Port Alberni
  • Powell River

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