NET WORTH REQUIRED FOR THE BC BRITISH COLUMBIA REGIONAL PILOT
By Sean G McKinsley, Managing Director, CIVS Canada Immigration and Visa Services
To immigrate to Canada and start a business in Canada through the BC regional pilot you need to prove that you have a net worth of at least $300,000 CAD. This also includes the net worth of your spouse or common-law partner. You must disclose all of your personal net worth, including all your assets and those of your spouse or common-law partner as well as all liabilities including mortgages and personal debts. There are many ways to prove your personal net worth for the BC regional pilot.
Below are some ways you can prove your net worth:
- Assets in bank accounts (e.g., personal chequing and savings accounts);
- Fixed (term) deposits (redeemable/cashable within one year);
- Real property (e.g., real estate, personal and commercial property ownership);
- Investments in bonds, stocks, and mutual funds;
- Investments in one or more businesses (current value of your percentage ownership in business(es), excluding stocks held in investment portfolios that have been included under liquid investments above);
- Pensions and other assets (i.e. jewelry, collectibles, etc.); and
- Liabilities such as real property mortgage(s) or other debts (e.g., personal loans, credit card debt).
It’s important to note that the net worth verification report must be performed by a BC PNP-authorized professional accounting firm.
About the author: Prior to establishing Canada Immigration and Visa Services (CIVS), Mr. McKinsley served as the senior legislative aide for two prominent Members of the House of Commons of Canada. Mr. McKinsley also has a distinguished career in the public and private sectors having held positions of Chief Operating Officer of a Western Canadian Law Firm and past Executive Director of a provincial Taxpayer Association.
DISCLAIMER: This article/guide is being offered for informational purposes only by Canada Immigration and Visa Services Inc (CIVS) While CIVS has made every effort to present accurate and reliable information, we hereby disclaim any liability for any errors, omissions or inconsistencies in this guide. Due to the continuing policy and/or program changes, information included in this guide may not be current as of your reading. Please check before using the information contained in this guide. Use of this guide and its contents is voluntary. CIVS or any of the authors of this guide is in no way responsible for your use of the information contained in this guide or the results of that use. All information provided in this guide is for informational purposes only, and as such should not be construed as advice. You should consult the appropriate website, and corresponding legislation in the appropriate area before acting upon any informationcontained in this guide. Nothing in this guide should be construed as possessional advice. This guide features information from many sources and should not be confused with an official reflection of policy and programming.
Date of Publication: May 22, 2019