Deanne Acres-LansOn May 31st, 2016, the Province of British Columbia selected 16 entrepreneurs under their Entrepreneur Immigration Program. Those who were selected had a score of 133 or higher based on the Entrepreneur Immigration Program points system.
This program is only applicable for entrepreneurs who have submitted an Expression of Interest directly to the Province of British Columbia. This program is not attached to the Federal Express Entry system, and those in Express Entry are not eligible for selection under this program.
In order to be eligible to apply to the British Columbia Entrepreneur Immigration Program you need to meet the following basic requirements:
- Have a minimum personal net worth of $600, 000 CAD or more
- Have experience owning or managing a business
- You are willing and able to establish a new business or purchase and improve an existing business in British Columbia
- Make an investment of $200,000 or more CAD in the business
- You will create at least one new full-time job for a Canadian citizen or permanent resident in the business
- You will engage in active and ongoing daily management of the business
- You will live in British Columbia
The British Columbia Entrepreneur Immigration Program is a points based system. You submit an expression of interest through their online system and are then assigned a score based on a variety of factors including, but not limited to, your age, educational level, language abilities, net worth, amount you are willing to invest in the business, the industry of the business you plan to open, the location you plan to open the business in, how many full time jobs you will create and your years of business experience.
You then sit in the pool of applicants and wait to be selected based on your score. Those with the higher scores will be selected. Once you are given an invitation you then have four months to submit your full application for review.
If your application progresses and is approved, you will then need to sign a Performance Agreement with British Columbia and will need to arrive in the Province within 12 months of receiving your approval letter on a valid Work Permit. The Province would issue you with a letter to use to apply for your Work Permit at your local Embassy.
You will then have 20 months to establish your business and to meet the requirements of your proposed business plan and to meet the requirements of your Performance Agreement.
Within 18 – 20 months of you arriving in British Columbia on your Work Permit, you will need to submit a final report on the business to the Province for review. If British Columbia is satisfied that you have met the requirements of the program and your Performance Agreement, you will then be nominated for Permanent Residency. You would then be issued a nomination certificate and can apply for your Permanent Residency.