Concerned by lack of skilled employees and absence of entrepreneurs creating job opportunities, British Columbia province has started a Provincial Nominee Program (BC PNP). The program is aimed at entrepreneurs who wish to set up business ventures in the province and upon meeting the criteria set by the authorities can become a permanent resident in the Canadian province.
A potential investor with a net worth of minimum $300,000 must set up a business by investing $100,000 in British Columbia communities which are at least 30 kilometres away from regions with a population of 75,000. The investor must have an experience of 3 years in last 5 years as an owner or co-owner in the chosen business or must have served in a responsible or senior managerial role for at least 4 years in the last 5 years. Once the newly set up business venture creates one full-time job for either a Canadian citizen or permanent resident and the entrepreneur continues to have a majority stake in the established business would be considered to have met all the criteria under the program and would be eligible for permanent residency.
As per the provincial authorities, specific businesses have been selected as target areas where foreign entrepreneurs can set up their businesses. Upon selection, entrepreneurs will be granted a temporary work permit and would receive permanent residency permit after having met all the criteria. The candidates would be selected as per their respective score and would be invited as per their rank in the list. The plan is going to start from 2019.
Get Free assessment form and know your eligibility today.