What is BC Entrepreneur Immigration Program Regional Pilot Stream
BC Entrepreneur Immigration Program Regional Pilot Stream, as the name suggests is designed for entrepreneurs to establish businesses or invest in regional communities of British Columbia.
Eligibility for BC Entrepreneur Immigration Program Regional Pilot Stream:
There are multiple factors of this stream as well which will help you to evaluate your eligibility for the program
- Personal Requirements
Personal Networth: You must have a minimum of $300,000 in personal net worth. Your personal net worth must be legally obtained and verifiable. An important step is to remember to always obtain a net worth verification report from a BC PNP-authorized accounting firm
Experience: You must have more than three years of experience as an active business owner-manager or more than four years of experience as a senior manager or a combination of at least one year of experience as an active business owner-manager and at least two years of experience as a senior manager.
Education: This is same as the base category stream. You must have a post-secondary level education, if not, you must have experience as an active business owner-manager with 100 per cent ownership of the business for at least three of the past five years.
Language: This is also same as the base category. You should have English or French language proficiency equivalent to Canadian Language Benchmark (CLB) level 4 or higher in each of the four competencies: listening, speaking, reading and writing.
- Business Requirements:
- In order to qualify under the EI – Regional Pilot, you must propose to establish a new business in a participating community in British Columbia (List of communities)
- If you are invited to apply, you must submit a comprehensive business plan that provides detailed information about your proposed business in B.C.
- You must demonstrate that you will own at least 51 per cent of the business in B.C.
- You must be formally referred by a participating community
*It is very important to note that you cannot change or modify your business concept after you submit your registration. You must decide on the specific type of business you intend to establish in B.C. before you register.
2. Application for BC Entrepreneur Immigration Program Regional Pilot Stream:
Before formally applying to this program, there are certain steps which you should take to ensure that you are well prepared and ready to apply. Some of the prominent steps to follow are:
- Research different communities and make a business proposal
- Get in touch with the chosen community to arrange a exploratory visit for yourself
- Visit and meet with the relevant authority of the community
- Obtain a community referral upon fulfilling their concerns
To research more about the communities and to see which community best aligns with your business proposal, follow the official links below shared by B.C Government for this Regional Pilot Program
- Communities www.britishcolumbia.ca/invest/communities/
- Regions www.welcomebc.ca/Choose-B-C/Explore-British-Columbia/Regions-in-B-C
- Regional profiles www.workbc.ca/Labour-Market-Industry/Regional-Profiles.aspx
- Industry sectors www.britishcolumbia.ca/invest/industry-sectors/
- Registration: Like the base program, this program is also a point-based system. You must log into BCPNP Online and get your registration process started by completing a form which required your personal information and the business concept. Once you have completed your profile chose the stream that you are applying and share some more details on the selected community and referral request.
3. Fee and Scoring for BC Entrepreneur Immigration Program Regional Pilot Stream
If your scores in each section meet the minimum eligibility scores, you will be directed to the electronic payment system to pay the $300 non-refundable registration fee. Your registration will be assessed according to the program requirements applicable at the time of submitting your registration. The business concept section will be scored by the BC PNP, typically within four weeks of submission. Breakdown of the scoring is as follow:
Self-Declared points: 140
(Experience, net worth, total investment, job, region, population, adaptability)
Business Concept points: 60
(Commercial viability, transferable skills, economic benefits)
- Pool: Registrations that meet the total minimum points in every section will be entered into the qualified pool. Registrations in the qualified pool are valid for 180 days (approximately 6 months). If you are not invited to apply to the BC PNP within 180 days of qualifying, your registration will expire.
- Invitation: BC PNP invites the highest-scoring registrants to apply. Once you get the invitation email, you will have up to 120 days (4 months) from the date of invitation to submit a complete application. You should utilize this time to work on your business plan and obtain a verification report of your net worth from a BC PNP-authorized accounting firm.
- Submit application: This is a very critical step. The most important submitting documents of this application are:
4. Net worth review: You must submit a verification report of your personal net worth from a BC PNP-authorized accounting firm at this point. (An authorized accounting firm is a professional chartered accounting services supplier, who is qualified by the BC PNP)
5. Submit a Business Plan: you are required to submit a complete business plan. It should be the detailed version of the business concept that you shared when you register. It should have commercial viability potential, proof of transferable skills, and a plan on how it will be operated along with income generation figures.
6. Interview: Be prepared to be called for the interview, in some cases, they can call a person to discuss the viability of the business plan to evaluate the net worth, etc. If you are requested to appear for the interview, utilize this opportunity to present your concerns and ask the questions which can help you in the journey moving forward.
7. Performance Agreement: Before your application is approved, you will have to sign a Performance agreement. This agreement is case sensitive but there are few standard agreement clauses; business type, location, management role, staff, investment figure along the timeframe in which you are required to execute.
8. Processing Fee: You are required to pay a one-time 3,500 non-refundable processing fee.
9. Work Permit British Columbia Entrepreneur Immigration Program Regional Pilot Stream:
So now that you have the signed Performance Agreement and the letter of confirmation, you can apply for the work permit. You are required to apply for your work permit before the expiry date on your letter of confirmation (usually 90 days). Your spouse is eligible to apply for an open work permit, and your dependent children are eligible to continue their studies in Canada.
10. Nomination for PR
Once the BC is satisfied that you have met your performance agreement conditions, you will be required to sign a Conditions of Nomination declaration document that will be issued to you by the Government. This document outlines the conditions you must continue to meet while your federal application for permanent residence is in process. It is important to know that you must sign and submit the Conditions of Nomination document in order to receive a nomination by the BC PNP for the Permanent Residence.
11. Apply for Permanent Resident
Once your Conditions of Nomination declaration has been received along with the final report that you fulfilled everything on the signed document, you are now eligible for the PR in the provincial nominee class of BC. You and your family members (spouse and dependents) are eligible to apply with you for the PR. The confirmation of nomination is valid for 180 days (approximately six months)
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