Canada has a new business programme with the introduction of the Entrepreneur Programme by British Columbia.
With the federal entrepreneur’s route closed for years, the provincial programme will receive a warm welcome by business people aspiring to migrate to Canada.
However, the programme is not easy to access, as applicants will have to compete with each other based on a list of criteria.
Each applicant can gather 200 points, and each month the 200 applicants with the highest score will be invited to apply.
Registrations that qualify according the requirements are valid for up to six months.
If an applicant is not invited within this period, the application expires and the applicant can submit again.
In order to qualify for the brand new programme, applicants must propose a business idea to be developed in Canada, and make an investment in the Canadian economy.
The business proposal must lead to the creation of jobs.
The business proposal will be assigned points based on commercial viability, transferability of the candidate’s skills, and economic befits.
Upon registration a draft plan is sufficient, but the applicant will be asked to work this out once invited.
Further, the applicant must demonstrate that he will make a personal investment in the business of at least CAD200,000.
At least one fulltime job for a Canadian citizen or permanent resident must be created with the business.
The applicant can score on personal requirements too.
To begin with, a personal net worth of at least CAD600,000 must be present and demonstrated.
The applicant must have a minimum of two years of post-secondary education or experience as an active business owner-manager with 100 percent ownership of the business for at least three of the past five years; and sufficient knowledge and experience to successfully establish his or her business in BC.
Applicants will be ranked according to their scores for business experience, net worth, personal investement, proposed job creation, adaptability (including age, language profieciency, education, previous visits to British Columbia and previous work or study in Canada.
Each section of the registration as a minimum eligibility score that has to be met in order to enter the monthly selection pool. There is no minimum overall score.