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PEI Nominee Program for Business
What
is Prince Edward Island Nominee Program for Business?
The Prince Edward Island
Provincial Nominee Program (PEI PNP) is a group of immigration pathways that
allows immigrants to invest in and actively run a business in Prince Edward
Island, Canada. The candidates willing to invest in Canada’s business can
benefit from the work permit stream through Prince
Edward Island Provincial Nominee Program (PEI PNP).
Prince Edward Island (PEI) Express Entry:
The PEI express entry system
attracts potential immigrants to the provincial nominee program of Prince
Edward Island. The PEI might send a “notification of interest” to the
applicants whose EE profile meets the
criteria required by the province. Moreover, the interested applicants can
directly apply for the program under the business or labor impact categories.
What are the benefits of the PEI PNP work permit stream?
The work
permit stream of PEI PNP grants work permits to the candidates
that enable them to move to Prince Edward Island and work on the business they
want to invest in. Some of the significant benefits of this stream are:
·
Low
professional fees for PAIC of $5,000 at the start and $5,000 at the end of the
process.
·
Small
initial payment of $5,000, plus $15,000 to be paid upon Invitation to apply
(includes $10,000 Government application fee), $40,000 to be paid after a
successful interview, and $150,000 to be invested in a business after obtaining
the Work Permit.
·
No
escrow deposit.
·
Speedy provincial processing (an interview will
be scheduled approximately 4-7 months after the complete application is filed).
·
When the applicant’s family moves to PEI, the
children can attend public school in PEI for free (kindergarten to grade 12).
Post-graduate students will pay foreign student rates until permanent residence
is received.
·
Medical care will be free for the family after
residing in PEI for 6 months.
·
The spouse can obtain an open
work permit.
·
Fast federal processing is expected (9-12 months
in most posts).
Eligibility Criteria
What is the
Eligibility criterion for PEI PNP?
The Prince
Edward Island issues a PNP to the candidates who can meet the following
criteria:
·
The
candidate must intend to settle in Nova Scotia and to manage, invest in, or own
a business in NS.
·
He/she
must make a minimum investment of $1, 50,000 in the NS business by Section 87
of the IRPA regulations.
·
The
applicant must have a minimum $6, 00,000 in Net Worth (principal applicant’s
and spouse’s assets combined).
·
The
applicant must be able to document the legal source of funds of $6, 00,000.
·
The
candidate must be at least 21 y
·
ears old (no maximum age).
·
The
candidate must have completed at least 12 years of school (completed secondary
school), as verified by an Educational Credential Assessment.
·
The
candidate must have minimum 3 years (in the past 10 years) of business
ownership experience (min. 33.3% ownership), or min. 5 years (in the past 10
years) of transferable senior management experience.
The candidate
must have basic proficiency in English or French (CLB 5 or greater; see the
conversion chart in the Application Kit).
Syrian candidates must obtain a DFAIT permit
before applying.
Application Process
How to apply
for PEI PNP?
The PEI
Government has implemented an Expression of Interest model of file submission.
Under this model, the agent will submit preliminary documents to
Confederation
electronically (e.g., via email or Dropbox), to
enable us to create the applicant’s Expression of Interest profile:
Documents Required:
·
Authentic
passport for each family member.
·
English
and/or French language assessment for the principal applicant (and spouse, if
applicable).
·
Confederation’s
Self Assessment form completed and signed by the principal applicant.
·
Completed
Business Plan Builder.
·
Resume
and reference letters for both principal applicant and spouse.
·
Schedule
4A and supporting net worth documents.
·
Completed
B-3 form.
·
The
narrative document, explaining how the principal applicant and spouse
accumulated/earned their combined net worth (it can not
be inherited or gifted.
·
Proof
of education (e.g., diplomas).
·
Proof
of enrolment and current attendance of any children in PEI schools (minimum 6
months), if applicable.
·
Proof
of spouse’s attendance at a post-secondary institution in PEI, if applicable.
·
Proof
of close relatives (parent, grandparent, child, brother, sister, aunt, or
uncle) living in PEI for a minimum 1 year, if applicable.
·
Proof
of experience in agriculture and expressed desire to operate a farm in PEI, if
applicable.
·
Confederation’s
Professional Services Agreement, completed and signed by the applicant.
Step-by-step process – PEI Nominee Program for
Business
Step-1
We will
evaluate your client’s qualifications and suggest ways in which he/she may increase
his/her score if applicable.
Step-2
Once the PEI
Government selects an applicant, please submit the full paper file to
Confederation as soon as possible (including all forms and backup documents).
We will review/process the file and submit it to the PEI Government.
Step- 3
The PEI
Government will review the file and invite the applicant for an interview.
Confederation will arrange the applicant’s itinerary, assist the applicant
during the exploratory visit, and prepare him/her for the interview.
Step-4
Following a
successful interview, the PEI Government will issue a Letter of Support to the
applicant, enabling him/her to obtain a Work Permit and move to PEI. The
applicant must start a business within PEI and run it for 1 year (while the
family lives in PEI) before being nominated.
Step-5
Following the
nomination, the applicant’s federal file is submitted. The applicant and family
will continue to live and run the PEI business until permanent residence visa
issuance.
