In 2019, the British Columbia PNP launched a new business immigration program to facilitate the settlement of immigrant entrepreneurs into less populated communities in the province. To qualify for this program, prospective entrepreneurs must make an exploratory visit to one of these small communities (must be less than 75,000 people) in order to obtain a community referral which is required in order to register with the BCPNP.

The BC Provincial Nominee Program (BC PNP) Entrepreneur Immigration – Regional Pilot (EI – Regional Pilot) is focused on attracting entrepreneurs from around the world to establish businesses in regional communities. This will help meet the communities’ economic development needs and encourage investments outside urban areas. 

Regional Pilot is for foreign entrepreneurs who are planning to start a new business. Entrepreneurs wishing to purchase an existing business can register and apply under the Entrepreneur Immigration base category of the BC PNP.

More than 30 communities have already joined the pilot and are now in a position to begin referring eligible candidates to the (BC PNP) for consideration.

In order to participate, communities must have the required support services in place to help business owners and their families settle.

As each community has the best knowledge of their local business environment, they are perfectly situated to identify economic development priorities and support services that give foreign entrepreneurs a good start in their journey to building successful businesses and growing the local economy.

To be eligible for the EI – Regional Pilot, communities must have a population of fewer than 75,000 and be located beyond 30 km of a municipality of more than 75,000. Communities must also demonstrate their capacity to support foreign entrepreneurs through established networks of business support and settlement agencies.
 
Pilot-specific training is offered to community representatives and must be completed before a community confirms their enrolment in the pilot. Communities will then be able to host exploratory visits and issue referrals for foreign entrepreneurs.

Experienced entrepreneurs approved through the (EI – Regional Pilot) receive a temporary work permit to start their business and can later apply for a provincial nomination for Canadian permanent residence if they meet the conditions specified in their performance agreement.

Eligibility

- Minimum personal net worth of CAD $300,000
- At least three years of experience owning a business or four years of experience managing a business within the last five years as a senior manager.
- Proposed business must create at least one new job for a Canadian citizen or permanent resident in BC
- Applicant must own at least 51% of the proposed venture
- Applicant must invest at least CAD $100,000 into the proposed business
- There is also a language proficiency requirement where the foreign entrepreneur must have a minimum of (CLB) 4 equivalent.

Key features of the EI Regional Pilot

Active community role – participating communities will have a key role in the pilot. They will be actively involved in attracting foreign entrepreneurs to their community and working with local partners and existing networks to provide support for entrepreneurs settling into their communities.

Referral from the community – participating communities will refer foreign entrepreneurs to the BC PNP whose business concept aligns with the community’s economic priorities. The foreign entrepreneur must have visited the community and present their concept to the community’s designated contact person prior to receiving a referral.

Community concierge – regional communities can contact the BC PNP to access a dedicated concierge service that supports communities with their immigration needs.

Invitations & prioritization – foreign entrepreneurs referred by a participating community are placed in a separate registration pool dedicated to the pilot. Registrations and applications are prioritized.

score by taking certain steps before registering.

Entrepreneurs Must:

- Be eligible to live and work in Canada
- Meet personal net worth requirements
- Have experience managing or operating a business

Each eligibility requirement is important. Unless each one is satisfied, the BC PNP will not invite the registrant to apply for the Investor Program. Entrepreneurs should therefore be certain they can meet all three qualifications before registering.

Several factors might prevent an entrepreneur from living or working in British Columbia. An applicant is likely to be disqualified in the following situations.

Sometimes the distinction between an indictable offense and a summary offense is not easy to understand. A potential immigrant who has a criminal record or who was suspected of committing a crime should seek legal advice to determine how the crime or conviction will be viewed under Canadian law. An entrepreneur who has concerns about immigration eligibility should obtain legal advice before proceeding with registration.

Personal Net Worth Requirements

To be eligible for a British Columbia Investor Visa, a candidate must have a personal net worth of at least CAD $300,000. "Personal net worth" refers to the total value of all the assets owned by the entrepreneur and his or her spouse, minus the total debts that either of them owes.

Assets Can Include:

- Cash
- Bank deposits (including certificates of deposit or their equivalent)
- Treasury bills or equivalent securities issued by a government
- Mutual funds
- Pensions and retirement accounts
- Stocks, bonds, and other market investments
- Investments in a private business
- Real estate
- Other property that has financial value

All assets must have been legally acquired and must be held in the name of the applicant or his or her spouse. 

Registrants who are invited to apply for investment immigration to British Columbia will be required to establish the source and value of their assets. Necessary proof might include the following.

Proof of Assets:

- Bank statements report
- Financial accounting from an investment manager
- Deeds and other property titles
- Mortgage documents
- Promissory notes and payment schedules
- Shareholder agreements, partnership agreements, or other documents establishing a share of private business ownership and the entrepreneur's equity in the business

To establish that the assets were acquired legitimately, the entrepreneur will need proof of the source of those assets. Examples of legitimate sources of assets include proof of an inheritance or gift, earnings from a business, and income from property sales.

 A Canadian immigration lawyer working with the candidate's financial advisor can help assemble the documents that are needed to establish his or her personal net worth and the source of their assets.

It is important to assure that the documents will withstand scrutiny. If an investigation by Immigration British Columbia determines that property values are substantially overstated, that claims of property ownership are falsified, or that outstanding debt were not disclosed, the potential immigrant will not be invited to apply for the program. Any BC Investor Visa that has been issued in reliance on the person's false representations may also be revoked. Making a false statement to the Canadian Government may also affect future eligibility for Canadian immigration and could even result in criminal prosecution.

Business Management Experience

The more experience a person has with business management, the more likely it is that he or she will be invited to apply for the BC Entrepreneur Program. Experience within the past ten years is particularly valuable.

Applicants Must Meet One of the Following Requirements:

- More than three years of experience as an active owner-manager of a business
- More than four years of experience as a senior manager of a business
- A combination of at least one year of experience as an active owner-manager and at least two years of experience as a senior manager

When British Columbia immigration officials assess a registration, they will decide whether the candidate's past work experience has provided "transferable skills." As a general rule, the closer past business experience matches the kind of business the individual proposes to operate in British Columbia, the more likely it is that the BCPNP will conclude that their work skills can be transferred to the new business.

Adaptability Factors

In addition to assigning points for prior business management experience, the British Columbia PNP awards point for several "adaptability factors." These factors are intended to assess the likelihood that an immigrant entrepreneur will adapt successfully to life in Canada. Adaptability factors are different from eligibility requirements. The only requirements that must be satisfied in order to be considered for the investor immigration program are the eligibility requirements discussed above. Scoring well on adaptability factors, however, increases the likelihood that a candidate will be invited to apply by the BCPNP.

Investor Program BC Business Concept

An interested candidate must include in their initial BCPNP registration a short description (1,000 to 1,500 words) of the proposed business. This description is provided in the "Business Concept" section of the registration. The Business Concept must explain what the enterprise will do, how it will operate, and why it is likely to make a profit.

The Candidate Should Explain:

- How and where they intend to enter the market
- How they will grow the business (or expand an existing business)
- The business strategy they intend to follow
- The kinds of goods or services that will be offered
- The market demand in British Columbia for those goods and services
- Why the company's goods or services will be competitive with similar businesses
- The number of funds that will be invested by the entrepreneur and, if applicable, other investors
- The number of additional funds that will be borrowed to grow the business and a projected payment schedule
- The number of jobs that are likely to be created
- The risk of failure and how those risks will be addressed
- Whether the entrepreneur will be investing more than 50% of his or her net worth in the business

If the candidate is invited to apply for the British Columbia Entrepreneur Program, he or she cannot submit a business plan for a different enterprise than the one described in the business proposal. If the entrepreneur discovers while preparing the business plan that the company would probably fail or is unlikely to be approved by Immigration British Columbia, it will be too late to change the proposal.

The British Columbia Investment Visa business concept will be scored on the following criteria:

The proposal must thoroughly explain why the planned business will be viable. It is also important at this stage to convince BCPNP immigration officials that the business will generate a profit. The more work a BC business immigration candidate does in advance; the more persuasive his or her proposal will likely be. Market studies, an analysis of competing businesses, and a survey of potential locations for the business will help the entrepreneur make a convincing case that the venture will succeed over the long term.

When BC PNP scores the commercial viability of a business concept, it examines these factors:

- The strength of the business model
- Whether the proposed market will support the business
- Whether the entrepreneur offers a unique advantage over competitors
- The degree of diligence in which the entrepreneur engaged before submitting the business concept
- Potential risks involved in the proposed business
- The British Columbia PNP also awards more points to Entrepreneur Program candidates who propose complete ownership of a business compared to those who will own less than 100% of the planned venture.

Transferability of Skills

Candidates earn points based on whether they have demonstrated experience in operating a business that is similar to the one that they are proposing.

Points Are Based on the Entrepreneurs:

- Direct experience (having worked in the same industry or economic sector as the proposed business)
- Indirect experience (having worked in an industry or economic sector that is similar to the proposed business)
- Unrelated experience

Points are awarded for experience as an owner-manager and as a senior manager. The highest point total (60 points) is earned by an entrepreneur who was an owner-manager with direct experience for more than five years. The lowest point total (2 points) is awarded to a senior manager with one year of experience in an unrelated industry. Points between those extremes are based on a selection grid that considers the nature of the person's experience as well as the length of his or her experience.

Economic Benefits

The potential economic benefits of a proposed British Columbia Entrepreneur Investment Program business are scored according to the factors discussed above (see the section titled "Contribution to Economic Growth"). 

BC Business Immigration Scoring Considers Whether the Proposal:

- involves a key sector of the economy
- contributes a significant economic benefit
- serves a region of British Columbia with a smaller population

Pilot timeline

The pilot will be delivered for a two-year period and will be evaluated to ensure that the community and entrepreneur are benefitting the program, and to ensure continued program integrity for the BC PNP.

To reflect the lower costs of starting a business and settling in regional communities with smaller populations, the personal net worth and investment criteria are lower than the existing Entrepreneur Immigration – Base Category (EI – Base Category).

If you are interested in immigration to Canada through the BC Investor Program but do not have enough money in the bank to qualify with a proposed business in Vancouver, this might be a great opportunity.

Interested candidates: Find out whether you qualify for Canada by completing our free on-line evaluation. We will provide you with our evaluation within 1-2 business days.