Welcome to the most preferable Prince Edward Island (PEI), and it’s also Canada’s smallest province located on the east coast of North America. This is the ideal place to study, live, work and raises a family.
Prince Edward Island Business Immigration Visa
If you are interested in immigrating to Prince Edward Island and would like to own your own business, you may be eligible for a nomination for permanent residency through the 100% Ownership Stream of the Prince Edward Island Provincial Nominee Program (PEI PNP). This stream is for foreign nationals with business-ownership or extensive management experience who would like to own and operate their own business in PEI.
THINGS YOU SHOULD ABOUT PEI:
- PEI offers wide range of rewarding career opportunities and a business community that is supportive of entrepreneurs.
- Students come to PEI from more than 60 countries to experience first-rate education which is recognized worldwide.
- PEI higher education programs are meeting the demands for a skilled workforce with industry-specific programs and degrees in diverse fields.
- PEI’s population is growing massively. New people are coming to the province, bringing new ideas and possibilities and contributing to our social and economic fabric.
- The Prince Edward Island Business Impact Category issues permanent residence to entrepreneurs who have established a business in the province. As it’s helpful for PEI as well.
The Work Permit Stream operates on a two-stage basis:
✓ Candidates come to Canada on a temporary work permit and establish their business.
✓ Candidates are nominated for permanent residence once their business is established and the terms of an agreement met.
Earlier, the province operated direct permanent residence business streams, but these were closed in September 2018 over immigration fraud concerns.
P.E.I. Business Immigration Program: Financial Requirements
All business immigration applicants to P.E.I. must:
✓ Invest at least $150,000 Canadian dollars in a P.E.I. company.
✓ Control at least 1/3 of the company’s equity / make an equity investment in the company of at least $1,000,000.
✓ Actively and consistently manage the business from within P.E.I.
✓ Not include a redemption option in the terms of their investment.
MOSTLY ASKED QUESTIONS?
WHAT IS THE Eligibility Criteria?
To be eligible for nomination through the 100% Ownership stream, you must:
- have a minimum verifiable personal net worth of $600,000 which has been accumulated through legal and legitimate sources in your own right;
- have a minimum education of secondary school equivalent;
- be within 21-59 years of age at the time of application;
- have transferable management skills and past employment or business ownership experience;
- meet minimum language requirements equivalent to a CLB/NCLC 4
- intend to live and work in PEI while providing day-to-day active and ongoing management of your PEI-based company;
- Attend an interview with staff from the Office of Immigration; and
- Sign an escrow agreement with the Province and submit a $200,000 deposit, which will be refunded upon you meeting the terms and conditions of the escrow agreement.
DO I HAVE TO PAY A FEE?
- There is no fee to create an Expression of Interest profile. If you are selected for nomination by PEI, the application fee is $10,000 CAD which must be submitted with your application. The acceptable forms of payment are a bank draft, a certified cheque, or a money order made payable to Island Investment Development, Inc.
- If your file is not accepted, the entire fee will be refunded. If your file is declined or withdrawn prior to you being interviewed by our office, $7,500 will be refunded. If your file is declined or withdrawn after you have interviewed with our office, the entire fee is non-refundable.
WHAT FORMS DO I NEED TO FILL?
You must complete all applicable provincial forms listed below:
- B-3: Application Form
- B-5: Consent to Validate Information
- B-6: Information Release
You must also complete all applicable federal forms from the Federal Application Package for Provincial Nominees.
WHAT HAPPENS IF I AM NOMINATED?
- After you receive a nomination, you are responsible for submitting your Application for Permanent Residency to Immigration, Refugees, and Citizenship Canada (link is external) (IRCC) along with your nomination certificate. IRCC will then assess your application for admissibility factors. You can check processing times at IRCC on their website.
WHO CAN I CONTACT TO ASK QUESTIONS?
- You can check the status of your Expression of Interest profile by logging in to the Prince Edward Island Expression of Interest system.
- Forward questions related to the 100% Ownership Stream to email@example.com (link sends e-mail) or call (902) 620-3628. Published date: January 25, 2018