This week we look at Immigration rules for investors to British Columbia.
The BC Entrepreneur Program provides an opportunity for qualified individuals and families to move to the Canadian Province of British Columbia and operate their own small business. The program is part of the British Columbia Provincial Nominee Program (BCPNP) and is best suited for experienced business owners and managers who have the financial ability and knowledge to create or improve a Canadian business.
Immigrant entrepreneurs who are selected to participate in the program are given a two-year work permit. While that permit is in effect, an entrepreneur must actively manage his or her business for at least 18 months. Participants who successfully complete all BC business immigration requirements will become provincial nominees, making them and their family members eligible for expedited permanent residence in Canada.
To participate in the British Columbia Investor Program, an entrepreneur must be able to invest at least CAD $200,000 in a new business or, in some instances, an existing business that the applicant plans to improve. The business must create at least one new job for a Canadian citizen or permanent resident. Prospective immigrants who wish to be considered for the BC Investor Program should follow these steps, all of which are explained in greater detail below.
BC Investor Immigration Eligibility
In this first part of our three-part series, we look at personal net worth requirements.
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 $600,000. “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:
- 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. An expectation of receiving a future inheritance does not qualify as an asset.
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.
Interested in applying for a British Columbia Investor Visa?
We will be bringing to you the Business management experience and the adaptability factors for the BC Investor Visa in the next 2 parts of this series.
For more information regarding the British Columbia Investor Visa or immigration to Canada in general, contact SmartMove2Canada at www.smartmove2canada.com. We are a niche law firm with a specialization in immigration law. To start your application process book an appointment for a consultation, call SmartMove2Canada on +91 7045 688 237 or email us at [email protected]
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