New Amendments to (PEI PNP) File Submission Method
canada program |
Immigration to Canada |
Canada Business Immigration |
Provincial Nominee Program |
December 19, 2017
In the spring of 2011, the Government of Prince Edward Island introduced new streams to the Prince Edward Island Provincial Nominee Program (PEI PNP) which continue to build on the Program's successful record of attracting business people to immigrate and settle in Prince Edward Island.
The (PEI PNP) Business Impact Category provides the opportunity for foreign nationals to apply to be nominated by Prince Edward Island to become permanent residents of Canada providing they invest in and actively manage a business in Prince Edward Island. Under this category, the applicant may start a business, obtain 100% control of an existing Prince Edward Island business or purchase partial ownership, with at least 33 1/3% of the equity, of an existing Prince Edward Island business.The applicant’s choice of a Prince Edward Island business should match their skill set and abilities to run that particular business.
Business Impact Category has three streams from which an applicant can choose:
- 100% Ownership Stream
- Partial Ownership Stream
- Work Permit Stream
Prince Edward Island (PEI) Government has announced that it will change its application submission method to the Expression of Interest (EOI). A new Expression of Interest format will be introduced from the start of 2018 for receiving applications to the Prince Edward Island Business Impact program.
The EOI process may be summarized as follows:
- Submission a preliminary Expression of Interest (“EOI”) profile , which will be scored out of 200 based on a number of factors including business experience, language, adaptability, age and education :
Points Available: P.E.I. Business Impact Expression of Interest
||200 (210 with bonus language points)
* 10 bonus points for strong second language
Applicants must meet the following requirements:
- The EOI profile will be valid for 6 months in the pool , with a renewal option for another six months.candidates will be able to update their profiles in the pool to increase their score .
- The EOI profile must identify the industry sector in which the principal applicant will invest.
- The PEI Government will select applicants based on their points score, and also on the needs of local business markets, industry sectors or diversity.
- Additional points will be awarded to applicants who have visited PEI previously, or have children attending school in PEI.
- To encourage applicants to visit PEI prior to EOI submission, the PEI Government will issue invitation letters to assist them in obtaining TRVs.
- To score community endorsement points (up to 35 points), the applicant must have secured a letter from that community, prior to submitting an EOI. The future business plan must be based in this community.
- The business plan will be prepared prior to the exploratory visit, to be presented by the applicant during the interview.
- Possess a minimum verifiable personal net worth of $600,000 which has been accumulated through legal and legitimate sources.
- Possess a minimum education of high-school equivalent.
- Be within 21-59 years of age at the time of application.
- Have transferable management skills and past employment.
- Have scored a minimum band score of 4.0 on the IELTS within the last 2 years (see the below website for converting IELTS to CLB) :
Priority may be given to applicants planning to be involved in businesses that:
- Provide a detailed business plan for 100% business ownership that falls within an eligible sector and meets all program criteria in place at the time of application.
- Provide active and on-going management of the business from within Prince Edward Island.
- Sign an escrow agreement and provide a deposit of $200,000 to be held by the Province until terms of the agreement have been met. The deposit may be returned without interest in stages; $25,000 is eligible for refund after 6 months of residency on PEI; an additional $25,000 is eligible for refund after 1 year of residency on PEI; and the remaining $150,000 available for release when all of the requirements of escrow agreement are met.
- Make a minimum of $150,000 investment into a new or existing Prince Edward Island owned and operated business.
- Are export-oriented
- Involve agriculture, fishery and forestry
- Help economically diversify rural communities in Prince Edward Island.
- Are active in innovative sectors: bioscience, information technology, aerospace and renewable energy.
The Canadian province of Prince Edward Island, is particularly attractive to prospective immigrants. Although the smallest province in size, it is one of the largest in terms of natural beauty, history, and Canadian culture. Prince Edward Island has excellent schools, almost no pollution or traffic, and was the home of the famous Charlottetown Conference of 1864 which eventually led to the nation's formation. In addition to being the birthplace of confederation, the province has an exceptionally high quality of life and is very popular among tourists thanks to its fantastic beaches, top rated golf courses, and many cultural attractions.
If you are Interested in immigration to Prince Edward Island via business impact category , contact us to learn more about the (PEI PNP).
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For a comparison of all Canadian business immigration programs, please click here
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