British Columbia Entrepreneur - Major program

Receive your minimal 18-month work permit without an IELTS.

The British Columbia Provincial Nominee Program has many streams, the British Columbia Entrepreneur included. It is a program run by the province of British Columbia. This program is built for entrepreneurs that desire residence in British Columbia. Accomplished applicants should have businesses in which they take part in the daily management duties. The entrepreneur may be promoted to a permanent resident status after being in business for at least 550 days.

Summary

In summary, before PR nomination, a work permit for not less than 18-20 months is necessary. One can begin a new business or acquire an existing one. A voluntary exploration tour will help gain points for selection. However, interviews are mandatory. In addition, essential staff applicants and co-applicants are allowed.

• Before applying for PR, you must have a work permit for 18-20 months.
• Can purchase a current business or start a new one;
• Although an exploration trip is not required, it will aid in the choosing process.
• Interviews are required;
• Co-applicants are permitted.
• It's feasible to find a key staff member.

Criteria for Minimum Eligibility

The following eligibility criteria must be met; Spouses must have a net worth of at least CAD$600,000 of all assets. The applicant must have a minimum investment of CAD$200,000 and a minimum of 33% ownership of a new or existing business in Canada. One has to hire at least one Canadian in the new business. At least 80% of the applicants' time is needed for the operation and management of the company in Canada. A third-party audit company should verify all assets in the home country.

• The minimum net worth of CAD$600,000 (often $400K-$600K for selection reasons);
• Minimum investment of CAD$200,000 (typically $400K-$600K for selection purposes);
• A minimum of 33% ownership in a new or existing firm in Canada is required;
• Hire at least one Canadian in the new business (usually additional hiring is required to obtain enough points);
• In Canada, run and manage the business. Requires a presence in Canada of at least 80% of your time;
• The third-party audit company will verify all assets in the home country.

Pros

The advantages of the program include: IELTS/TEF is not a must, there is neither an age limit nor an educational requirement, and one can invest and employ more people to get more points for selection.

• IELTS/TEF is not required;
• There is no age limit;
• There are no educational criteria;
• You can invest more/hire more employees to obtain more points for the province's choosing.

Cons

The disadvantages of the programs are: the selection is competitive, one has to invest and hire more Canadian staff to compete for provincial selection, and a minimum of 2 years of managing the company actively in Canada is required for PR nominations.

• Competitive selection.
• Greater investment/hiring of Canadian personnel is required to compete for provincial selection.
• Before being nominated for PR, the firm must have been operational in Canada for at least two years.