In a bid to entice immigrant entrepreneurs, the British Columbia is creating a new immigration pilot program for migrants to spread development to smaller communities in the province.
The program which is set to launch early next year is known as the Entrepreneur Immigration-Regional Pilot. The two-year programme will allow the BC PNP (British Columbia Provincial Nominee Program) to work together with regional communities of not more than 75,000 persons to welcome accepted foreign entrepreneurs. For a community to be chosen for this pilot program, it must be located at least 30 km away from populated Provinces with more than 75,000 people.
The need for Entrepreneur Immigration Program
The Provincial Nominee Program for British Columbia announced that small communities are facing a lot of financial and demographic difficulties. This is due to the low offer of opportunities in these small regions for young people and the high population of elderly people. In a bid to make ends meet, Younger people move to more populated areas with better opportunities leaving the older ones in the community.
The BC PNP reported that the program aims at maximizing the full benefits of migration to B.C. to help bring about equal economic prowess all over the province.
Eligibility Requirements for the Immigrant Entrepreneurs
The proposed entrepreneurs would be required to run a business which addresses a current need identified by the communities. The local partners and communities would in turn support qualified Immigrant entrepreneurs when they arrive.
Before an entrepreneur registers for the pilot program, he or she is mandated to go on a tour around the community of their choice. They must also receive a referral from the community before registering.
Applicants who qualify will be offered a temporary work permit. They will also be nominated for Permanent Residence by the B.C. PNP if their businesses are considered eligible according to the Performance Agreement.
B.C. PNP spoke of bringing down the net cost of starting a business and settling in the B.C for those under the pilot program as compared to people in more populated places in the province.
Other Requirements include:
- Their personal net worth must be at least $300,000
- They must be able to provide employment opportunity for at least one citizen or Permanent Residence holder of Canada
- Must claim at least 51% ownership to the business
- Must have invested at least $100, 000 in a legal business
- They must have had experience as entrepreneurs or business managers for three years and above otherwise must have spent 4 years and above as senior managers in the past 5 years with regards to the time of their application.
- In the course of their visit to the desired community, they must go along with their business proposal which they will submit to the community’s pilot representative, who will, in turn, present a community referral form on the applicant’s behalf to the B.C PNP
- Applicants will be scored once registered. Applicants with the highest scores will be given a chance to apply fully to B.C. PNP in the monthly round of Invitations.
On January 2019, registrations will begin, and the program will run initially for two years.
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