• Prince Edward Island Business Impact

Prince Edward Island Business Impact

The Business Impact Category of the Prince Edward island Provincial Nominee Program (PEI PNP) provides the opportunity for foreign nationals 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.

Eligibility Criteria

There are three streams from which an applicant can choose:

Prince Edward Island Business Impact

Prince Edward Island Business Impact

100% Ownership Stream

Under the 100% Ownership Stream, the applicant must:

  • Possess a minimum verifiable personal net worth of C$600,000.
  • 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.
  • Provide an eligible business plan in Prince Edward Island for 100% business ownership.
  • Provide active and on-going management of the business from within Prince Edward Island.
  • Sign an escrow agreement containing stipulations on a deposit of C$200,000 to be held by the Province until terms of the agreement have been met.
  • Make a minimum of C$150,000 investment into a new or existing Prince Edward Island owned and operated business.

Partial Ownership Stream

Under the Partial Ownership Stream, the applicant must:

  • Possess a minimum verifiable personal net worth of C$600,000.
  • 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.
  • Provide an eligible business plan in Prince Edward Island for partial business ownership..
  • Provide active and on-going management of the business from within Prince Edward Island.
  • Sign a escrow agreement containing stipulations on a deposit of C$200,000 to be held by the Province until terms of the agreement have been met.
  • Make a minimum of C$150,000 investment into an existing Prince Edward Island owned and operated business for a partial ownership interest of a minimum of 33 1/3% of voting shares; or make a minimum $1 million investment.

Work Permit Stream

Under the Work Permit Stream, the applicant must:

  • Apply to CIC for approval of a work permit for the Prince Edward Island business that the applicant intends to invest in and manage.
  • Possess a minimum verifiable personal net worth of C$600,000.
  • Possess a minimum education of high-school equivalent.
  • Have transferable management skills and past employment.
  • Have scored a minimum band score of 4.0 on the IELTS within the last 2 years.
  • Provide a eligible business plan.
  • Provide active and on-going management of the business from within Prince Edward Island.
  • Sign a Performance Agreement containing stipulations on the business investment that must be satisfied to proceed with nomination.
  • Make a minimum of C$150,000 investment into a new or existing Prince Edward Island owned and operated business.

The Process

  • Step 1:

    Complete and submit the Business Impact Category self-assessment, business proposal and application guide.

  • Step 2:

    Interview with the Office of Immigration, Settlement and Population in Prince Edward Island.

  • Step 3:

    Submission of business and settlement plans to the Office of Immigration, Settlement and Population:

  • Step 4:

    Only for Work Permit Stream, Issuance of a letter of support for a work permit

  • Step 5:

    Only for Work Permit Stream, successfully meeting conditions of performance agreement.

  • Step 6:

    For 100% Ownership and Partial Ownership Streams, making a conditionally refundable deposit of C$200,000 to the Prince Edward Island Office of Immigration.

  • Step 7:

    Receiving a PEI PNP nomination. Successful PEI PNP applicants will receive a letter of approval and letter of instruction.

  • Step 8:

    Making a separate application to the Government of Canada for permanent resident visas.

  • Step 9:

    Medical and security examinations and issuance of permanent resident visas.

Fees

PEI PNP Application Fee: C$ 10,000

Local Agent Fee: C$ 55,000

Federal Processing Fee: C$ 550 for each person 19 years and over, C$ 550 for each child

Right of Permanent Residence Fee: C$ 490 for main applicant, C$ 490 for spouse

Free Canada Immigration Assessment

Fill out the following simple free Questionnaire. We will assess your eligibility based on more than 60 different Canadian immigration programs and send you the result within 48 hours!

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