This program is divided into three sub-categories:

Entrepreneur Category
Meant for senior managers or business owners who intend to invest funds into a proposed business in British Columbia.

Regional Entrepreneur Category
Meant for Senior managers or business owners who intend to invest funds into a proposed business in British Columbia, anywhere outside of the Vancouver and Abbotsford metropolitan areas.

Strategic Projects Category
Meant for foreign-controlled companies who want to set up an operation or branch in British Columbia. They can also nominate up to five key foreign managerial, professional or technical staff members.

Regional Business Succession Option — Meant for individuals who intend to purchase and manage an existing British Columbia business. This option can be applied to any of the three categories above where the business is located outside of the Vancouver and Abbotsford metropolitan areas. If successful, applicants will receive priority processing.

Following are the details of the eligibility criteria for all the categories:

Entrepreneur Category

Requirements:

• The applicant should be an experienced senior manager or business owner.
• The applicant must be able to present a practical business proposal that can cause significant economic benefits to British Columbia.
• The applicant has the financial ability to invest in a business, namely: A personal or combined (with spouse) net worth of at least $800,000.
• Upon the application’s approval, the applicant has to carry out the following:
  • Make a minimum investment of $400,000 to establish, purchase, or expand an existing business in BC.
  • Hold at least one-third ownership of the proposed business in BC
  • Sign a Performance Agreement with the provincial government.
  • Create a minimum of three full-time jobs, to be held by Canadian citizens or permanent residents.
  • Take active part in managing and directing the proposed business.
• This program also allows applicants to bring one key staff member to BC, whose skills and expertise are essential to the success of the business.


Regional Entrepreneur Category

Requirements:

• The applicant should be an experienced senior manager or business owner.
• The applicant must be able to present a practical business proposal that can cause significant economic benefits to British Columbia.
• The applicant has the financial ability to invest in a business, namely: A personal or combined (with spouse) net worth of at least $400,000.
• If an application is approved, the applicant must perform the following:
  • Make a minimum investment of $200,000 to establish, purchase, or expand an existing business in BC.
  • Hold at least one-third ownership of the proposed business in BC.
  • Sign a Performance Agreement with the provincial government.
  • Create a minimum of one full-time job, to be held by Canadian citizens or permanent residents.
  • Take active part in managing and directing the proposed business.

Strategic Projects Category

This category is meant for Foreign companies looking to establish a presence in British Columbia.

The company can also apply for up to five important staff members to work and become permanent residents in Canada. These staff members must proven to be qualified senior personnel and vital to the establishment and operation of the business in British Columbia.

The company must be evidently successful and following good practices outside of Canada.

Upon the application’s approval, the following must be done by the company:

• Sign a Performance Agreement with the provincial government
• Make a minimum equity investment of $500,000 to establish or purchase and expand an eligible business
• Create at least three new jobs for Canadian citizens or permanent residents for each proposed key staff member
• Establish or purchase and expand a company that is incorporated or federally incorporated and registered extra-provincially in BC

Regional Business Succession Option

If you are an individual meeting any of the three above mentioned categories, you can use this option to take over an existing British Columbia business from a retiring business owner and you will also be granted an ease in processing and job creation.

For this option to be valid, a complete change in ownership of the business must take place.

The business must be eligible.

The business must be located outside of the Vancouver and Abbotsford metropolitan areas.

The business must have been operated by current owner for at least five years.

The business must have at least one full-time employee other than family members of the owner.

You as an owner must not be just at the receiving end of the business but also must be taking active part in its operation.