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).
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 years 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.
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:
- 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
We will evaluate your client’s qualifications and suggest ways in which he/she may increase his/her score if applicable.
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.
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.
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.
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.