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Prince Edward Island Provincial Nominee Program PEI PNP

Posted in Provincial Nominee Program

PEI PNP

As the birthplace of Canada, Prince Edward Island welcomes new comers who wish to reside in Canada's smallest province. The province has strong social, economic and strategic reasons for pursuing greater immigration and has enhanced its nominee program to reflect that desire. This creates an ease of access for those wishing to reside in this province rich with history.

The Prince Edward Island Provincial Nominee Program is divided into two main parts:

  • Business Impact Category
  • Labour Impact Category

With the introduction of the Prince Edward Island Provincial Nominee Program (PEI PNP) in 2001, the province has taken a leadership role in setting its own immigration criteria and objectives.

Business Impact Category

This category aims to strengthen and continue to develop the growing economy in Prince Edward Island for those who currently reside in the province and new comers alike. One way to achieve this is to facilitate the growth of business and the influx of skilled labour. For this reason, the Prince Edward Island Provincial Nominee Program Business Impact Category is divided into three streams:

100% Ownership Stream:

  • Must meet the age, education, work experience, adaptability and language skills necessary to establish and operate a business in Prince Edward Island.
  • Must provide a valid International English Language Testing System (IELTS) test result with a minimum band score of 4.0 obtained within the last 2 years.
  • Must provide a business proposal at time of application and a business plan detailing the start up or purchase of a business in Prince Edward Island.
  • Must provide a settlement proposal outlining the intention to move and settle in Prince Edward Island.
  • Must provide evidence of a personal net worth of at least $600,000 CAD obtained from legal sources.
  • Must make a minimum $150,000 CAD investment to start or purchase an eligible business in Prince Edward Island.
  • Must have a minimum of $150,000 CAD unencumbered personal funds to make the required escrow deposit.
  • Must have sufficient unencumbered personal funds to make the required investment, operate the business for a minimum of one year, and settle in Prince Edward Island.
  • Must sign an escrow agreement with the Province of Prince Edward Island and make a $150,000 CAD deposit, which is held in escrow, to be returned without interest once the terms and conditions of the agreement have been met.
  • Must control 100% of the business.
  • Must provide active and on-going management of the business from within Prince Edward Island.
  • Must not include a redemption option in the terms of the investment.
  • If acquiring 100% of an eligible Prince Edward Island business, the applicant must provide a purchase and sale agreement outlining the intent of the applicant to purchase the business.

Partial Ownership Stream:

  • Must meet the age, education, work experience, adaptability and language skills necessary to establish and operate a business in Prince Edward Island.
  • o Must provide a valid International English Language Testing System (IELTS) test result with a minimum band score of 4.0 obtained within the last 2 years.
  • Must provide a business proposal at time of application and a business plan for purchasing partial ownership of a business in Prince Edward Island.
  • Must provide a settlement proposal outlining the intention to move and settle in Prince Edward Island.
  • Must provide evidence of personal net worth of at least $600,000 CAD obtained from legal sources.
  • Must have a minimum of $150,000 CAD unencumbered personal funds to make the required escrow deposit.
  • Must have sufficient unencumbered personal funds to make the required investment, operate the business for a minimum of one year, and settle in Prince Edward Island.
  • Must sign an escrow agreement with the Province of Prince Edward Island and make a $150,000 CAD deposit, which is held in escrow, to be returned without interest once the terms and conditions of the agreement have been met.
  • Must make a minimum investment of $150,000 CAD.
  • Must control not less than 33 1/3% of the equity in the business or make an equity investment in the business of at least $1,000,000 CAD.
  • Must provide active and on-going management of the business from within Prince Edward Island.
  • Must not include a redemption option in the terms of the investment.
  • Must execute an investment agreement outlining the terms and conditions of the applicant's intent to invest in an eligible Prince Edward Island business.

Work Permit Stream:

  • Must meet the age, education, work experience, adaptability and language skills necessary to establish and operate a business in Prince Edward Island.
  • Must provide a valid International English Language Testing System (IELTS) test result with a minimum band score of 4.0 obtained within the last 2 years.
  • Must provide a business proposal at time of application and a business plan on the starting or purchasing of a business in Prince Edward Island.
  • Must provide a settlement proposal outlining the intention to move and settle in Prince Edward Island.
  • Must provide evidence of personal net worth of at least $600,000 CAD obtained from legal sources.
  • Must have sufficient unencumbered personal funds to make the required investment, operate the business for a minimum of one year, and settle in Prince Edward Island.
  • Must sign a performance agreement with the Province of Prince Edward Island.
  • Must be eligible and willing to apply to CIC for approval of a work permit for the Prince Edward Island business where the applicant intends to work and invest in.
  • Must make a minimum personal equity investment of $150,000 CAD to establish or purchase an eligible business in Prince Edward Island.
  • Must control not less than 33 1/3% of the equity in the business or make an equity investment in the business of at least $1,000,000 CAD
  • Must provide active and on-going management of the business from within the Province of Prince Edward Island.
  • Must not include a redemption option in the terms of the investment.
  • Must execute an investment agreement or purchase and sale agreement outlining the terms and conditions of the applicant's intent to invest in an eligible Prince Edward Island business.

Enhanced promotion of immigration is playing a significant role in the Province of Prince Edward Island's strategic direction enabling the Prince Edward Island Provincial Nominee Program to be more flexible and responsive to its labour market needs. Improvements in the program will expedite the selection of nominees to ensure that immigrants can get to Prince Edward Island quickly where those skills and investments are in demand.

Tags: Provincial Nominee Program PNP Economic Class Canadian Permanent Residence Canadian Immigration Prince Edward Island Provincial Nominee Program PEI PNP

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