British Columbia extends its Pilot program for 3 more years

British Columbia has given a 3-year extension to its Entrepreneur Immigration Regional Pilot. This makes the pilot active until March 31, 2024.

With this extension, communities in BC can welcome new entrepreneurs and get their contribution in the process of recovery after the COVID-19 pandemic.

The aim of the regional pilot is to attract experienced entrepreneurs to start a new business in smaller communities of BC. This way, they can contribute well to the province’s labor market requirements.

The Pilot had started off in 2019 for a period of 2 years.

BC has 65 communities signed up in the initial pilot phase. Once international travel restrictions are lifted, new entrepreneurs will be welcomed to these communities.

About Entrepreneur Immigration Regional Pilot

How can candidates be eligible?

The following criteria apply to candidates to be eligible for the Pilot:

• The candidate must have a net worth of at least $300,000.
• The candidate’s eligible business investments must be at least $100,000.
• The candidate must have at least 51% ownership of the new business.
• The candidate must have CLB Level 4 In English or French in listening, reading speaking, and writing.
• The candidate must create a minimum of one new job of a full-time nature for a citizen of Canada or a Canadian permanent resident.
• The candidate must conduct an exploratory visit in the community to be joined.

How can be a community be eligible?

The following are the criteria for a community to be eligible for the Pilot.

• The community must have a population of not more than 75,000 people.
• The community must be located beyond 30 km of a municipality having over 75,000 people.
• The community must demonstrate the capacity to extend support to the entrepreneur. This must be done via a network of established settlement and support agencies for the business.

Key features of the Pilot program

The communities are actively working to attract foreign entrepreneurs, helping them to arrive and settle with them.

Communities are allowed to refer foreign entrepreneurs to the BC PNP. It’s necessary that the referred candidates have made a visit to the community and have a business proposal that’s aligned with the community’s economic priorities.

The communities participating in the Pilot must have access to the services given by a BC PNP Community Concierge functioning dedicatedly.

The register of referred candidates is a separate pool of BC PNP. The candidates who score the best are issued monthly invitations. Those invited candidates received priority in processing.

If you are looking to Study, Work, Visit, Invest or Migrate to Canada, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.

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Note:

PR – Permanent Residence/Permanent Resident

PNP – Provincial Nominee Program

BC – British Columbia