The province of British Columbia, located in the west coast of Canada and well known for its beautiful weather (considering Canadian standards when it comes to weather), has 2 entrepreneur programs.
This article will concentrate on the Regional Pilot program which is less costly but requires a previous business trip to the province within 1 year before submitting the application. For most applicants, this means an additional cost for a business visa.
Nonetheless, the BC Regional Pilot program for entrepreneurs focuses on applicants who are interested in setting up a business in a rural community with less than 75,000 inhabitants. The program was specifically created to help develop those rural communities.
You will have to set up a business, manage it for at least 1 year, and then be eligible to apply for permanent residency. This is an active investment, not a passive one. You must actively manage the business.
For the details of the program, see the table below:
PROGRAM | BC ENTREPRENEUR REGIONAL PILOT |
---|---|
GOAL | OPEN A NEW BUSINESS |
WHERE | BRITISH COLUMBIA IN A REGION WITH A POPULATION OF LESS THAN 75,000 INHABITANTS |
WHAT YOU GET | 2 YEARS WORK PERMIT |
ACTIVE OR PASSIVE INVESTMENT | ACTIVE |
CONDITIONS |
|
MINIMUM INVESTMENT | $100,000 |
MINIMUM NET WORTH REQUIRED (can be husband + wife) |
$300,000 |
MINIMUM OWNERSHIP | 51% |
RENT OR BUY | You can rent the business space or buy it. |
FRANCHISE | Yes. |
PROCESS |
After becoming a permanent resident of Canada, you can obtain Canadian citizenship (passport) after 3 years of residency in Canada. These 3 years do not need to be continuous. |
DOCUMENTS some may not apply to your case and some can be replaced/added |
|
TIME (approximate) | 6-12 months. |
LANGUAGE REQUIREMENTS | IELTS GENERAL 4. |
MEDICAL COVERAGE IN CANADA (after obtaining a visa) | Yes. |
OPINION |
ADVANTAGES
DISADVANTAGES
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We help entrepreneurs set up their business and immigration strategy and execute on it.
We believe immigration is more than just a visa. We accompany our entrepreneurs during their entire immigration journey: from business set up to the first work permit, then permanent residency and finally, citizenship.
To book a consultation with a lawyer and explore your business immigration options, email us.
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