The Business Impact Category of Prince Edward Island Provincial Nominee Program (PEI PNP) targets foreign nationals who wish to own and operate a business in Prince Edward Island. The candidates who are nominated by the province would be able to apply for permanent residence in Canada, along with their family members. The Business Impact Category prioritizes those candidates who demonstrate their capacity to economically establish themselves in Prince Edward Island.
The category operates on the basis of an Expression of Interest (EoI) system, which is a point-based system to assess the candidates on a number of eligibility factors. If the candidate meets the basic criteria for Business Impact Category, they can create an Expression of Interest profile.
Work Permit Stream
Work Permit Stream is the PEI PNP’s pathway for entrepreneurs. It allows interested candidates to come to PEI on a work permit and operate a business for at least one year after which, they can apply for provincial nomination. The candidates invited to apply under this stream needs to sign a Performance Agreement. If their application is accepted, the candidate will receive a letter of support from the PEI Office of Immigration with which they can apply to the federal government for a work permit. The candidate needs to meet the terms and conditions of the Performance Agreement, in order to receive provincial nomination.
The first step in applying for provincial nomination through the Work Permit Stream is assessing the candidate’s eligibility for the same. The eligibility requirements of the candidate include:
- A minimum verifiable personal net worth of $600,000. The candidate must have accumulated the assets through legitimate source
- The candidate’s minimum level of education must be equal to secondary school
- The candidate’s age must be between 21 years and 59 years at the time of submitting the application
- The candidate must demonstrate transferable management skills, past employment or business ownership experience
- The candidate must meet minimum language requirements equal to CLB/NCLC 4
- The candidate must demonstrate the intention to live in PEI and actively manage the proposed business on a day-to-day basis.
If a candidate meets the above requirements, the next step is creating an Expression of Interest profile. The profile will remain active for six months. If the candidate is invited to apply, they can submit the complete application within 60 days. The number of invitations issued in each draw is decided on the basis of a number of factors such as annual nomination allocations, processing capacity of the province as well as the requirements of the province.
If the initial application of the candidate is accepted, they would be invited to attend an interview with the staff of the Office of Immigration. It is always ideal for the business impact category candidates to visit PEI in advance if possible in order to know more about the province and its business environment. The interview will be mainly about the family background, education, work experience, settlement plan and business plan. The candidate must be prepared to explain the business plan in detail. If the candidate is successful in convincing the immigration officials about the proposed business plan, the person can sign the Performance Agreement during the interview. Upon the approval of the application, the candidate would also receive a letter of support for a work permit to be submitted to the IRCC, which will issue the work permit. After receiving the work permit, the candidate can set up the business in the province. If the candidate meets all the terms and conditions in the Performance Agreement, they can apply for provincial nomination after one year. The nomination would enable them to apply for permanent residence in Canada.
|Business Impact Category||Points|
|Business Ownership or Senior Management Experience||50|
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