British Columbia expands communities as a part of its Entrepreneur Immigration Regional Pilot program to 66
British Columbia has expanded its British Columbia Entrepreneur Immigration Regional Pilot program. As per this program, an entrepreneur can easily set a business in any one of the communities.
To be authorized to be a part of this program, the community must have a population of 75,000 apart from having a distance of 30 km between the community and the urban center. Due to the addition of the 8 more communities, the total number of communities under this program has reached 66.
The eight new communities are:
- Canal Flats
- Akisqnuk First Nation
- Radium Hot Springs
- Shuswap Indian Band
- Regional District of East Kootenay (Area F, Area G)
Entrepreneurs who are interested in setting up a business in a community must first go there on an exploratory visit. If any community is ready to sponsor them, they can set up their business there. They have to talk with a community representative for getting approval on the business. When the business has been able to get sponsorship, he can register his business which should also include providing details about the business such as work, experience, education, net worth, language ability and any details about the new business.
Apart from registering the business, other requirements are also mandatory for an entrepreneur:
- Be ready to invest 1,00,000 CAD in the new business
- Have 3,00,000 CAD as net worth
- There must be 51% ownership in the new business
- Good understanding in either the French or the English language is needed up to CLB level 4
- The proposed entrepreneur must have 3 years of experience as a business person in a managerial role. His experience must be 5 years in a senior managerial role.
The successful candidates will get a score as soon as they get registered. An invite will be sent to those who have the maximum scores. The applications are then evaluated in a period of 4 months and shortlisted applicants have to face an interview. After the interview, if the applicant is successful, then he/she gets the business performance agreement. They then get the work permit support letter from the BC PNP. If selected, then he/she can apply for a work permit.
Once you meet all the conditions of the business performance agreement, after two years you can apply for the PR to this province.
How to start a business in British Columbia?
The first step is to do some research before initiating your business. Then the next step is to prepare a guide for running the business which will be useful in the later stages. Then, you must plan the business and arrange finances for it.
You must give a name to your business and then get it registered. After that, you must get the necessary permits and licenses for it. You must plan the expenditures of the employees, how many of them are to be hired and taxes that have to be paid.
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