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 the second part of our three-part series, we look at the Business management experience required to be eligible for BC Investor.
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
An “active owner-manager” is someone who, during the past ten years, owned at least 10% of a business and played an active role in the management and operation of the business.
A “senior manager” is someone who has no ownership interest (or less than 10% ownership) in a business but, during the past ten years, played an active role in the management and operation of the business. A senior manager must be responsible for supervising at least three full-time employees.
An “active role” generally means having hands-on daily responsibility for making policy decisions about the business. An active role requires more than attendance at shareholders’ meetings. An owner-manager or senior manager must have day-to-day responsibility for making business management decisions.
Interested in applying for a British Columbia Investor Visa?
We will be bringing to you the adaptability factors for the BC Investor Visa in the last part 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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