INVEST TO IMMIGRATE
BRITISH COLUMBIA Regional Pilot program
The BC Regional Pilot program for entrepreneurs seeks to link interested regional communities with low populations with foreign entrepreneurs interested in immigrating to the province.
Looking beyond conventional entrepreneur immigration programs, the BC Regional Pilot program for entrepreneurs seeks to link interested regional communities with low populations with foreign entrepreneurs interested in immigrating to the province.
Designed specifically to promote wider and diverse development through the region, the Regional Pilot is an added option available to entrepreneurs looking beyond the Base category program for entrepreneurs.
The Program Details:
Personal Net Worth
$300, 000 — Regional Pilot
$600,000 — Base Category
INVESTMENT AMOUNT
$100,000 — Regional Pilot
$200,000 — Base Category
Benefits:
Lower minimum investment and net worth requirements for a Regional Pilot applicant as compared to the Base category entrepreneur immigration program in the province.
Full-fledged support of an enrolled community of population less than 75,000, which will simplify the process of establishing and operationalizing the venture.
Mandatory requirement of an exploratory visit followed by a referral by the enrolled community reduces business risk and improves chances of successful nomination.
Investment:
To qualify for the BC Entrepreneur Immigration – Regional Pilot category, the applicant must invest at least $100,000 CAD in a new business in the province and own at least 51 percent stake in the business.
Under the BC Entrepreneur Immigration – Base category, the applicant must invest at least $200,000 CAD in a new or existing business in the province and own at least one-third stake in the venture.
Financial Requirements:
The minimum net worth requirement under the Regional Pilot Category is $300,000 CAD. Base category applicants must have a net worth of at least $600,000 CAD.
Other fees and charges include $300 CAD registration fee and $3,500 CAD application fee for both categories. If the applicant is immigrating with a key staff, then an additional fee of $1,000 CAD is payable towards the latter’s application.
Commitment:
Applicants under both categories must possess the following business experience in the past ten years under base category and past five years under the Regional Pilot program.
- Business owner-manager experience of at least three years, or
- Senior manager experience of at least four years, or
- Combination of one year as business owner-manager and two years as senior manager.
Applicants under both categories must either have a post-secondary degree, diploma, or credential or experience as active business owner-manager for three out of last five years with 100% ownership.
Under both categories, the business must create at least one full-time job for a citizen or permanent resident of Canada.
Rules specific to the regional pilot include minimum CLB 4 language proficiency in English or French, mandatory reference from a participating community in the province, and a compulsory exploratory visit to this enrolled community before submission of the application.
Both categories are two-step programs where work permit is issued upon approval and permanent residence is granted after submission of final report after 18 months (Base category) or 12 months (Regional Pilot) after issuance of the work permit.
If you are looking for Business Immigration, Contact Manuleaf Immigration.
