Residency by Investment

Prince Edward Island Provincial Nominee Program

If the idea of residing and working on Prince Edward Island captures your attention, the Prince Edward Island Provincial Nominee Program (PEI PNP) could be a suitable choice. As one of Canada’s rapidly expanding provinces, Prince Edward Island boasts cities like Charlottetown which are experiencing significant growth. The employment prospects in Prince Edward Island hold great appeal to numerous international workers in search of secure and enduring career opportunities. Now, let’s delve into the advantages, requirements, application procedure, and application forms specifically for the Entrepreneur Category under the Work Permit Stream.

PEI PNP Benefits

  • Affordable Initial Payment: Applicants are required to make a small initial payment of $5,000, along with additional payments of $19,000 upon receiving an Invitation to Apply. This $19,000 includes a $10,000 Government application fee and a $4,000 net worth verification fee. Additionally, after a successful interview, an additional payment of $40,000 is required. Finally, a sum of $150,000 needs to be invested in a business after obtaining the Work Permit.
  • No Escrow Deposit: Unlike some other programs, the Work Permit stream does not require an escrow deposit, providing greater flexibility for applicants.
  • Speedy Provincial Processing: The provincial processing of applications is known for its efficiency, with an interview typically scheduled approximately 4-7 months after the complete application is filed.
  • Free Education for Children: Upon the applicant’s family moving to Prince Edward Island, their children are eligible to attend public school in PEI from kindergarten to grade 12 without any tuition fees. Post-graduate students will pay foreign student rates until they receive permanent residence.
  • Free Medical Care: After residing in PEI for 6 months, the applicant’s family will be entitled to free medical care.
  • Open Work Permit for Spouse: The spouse of the applicant can obtain an open work permit, allowing them to seek employment opportunities in Canada.
  • Fast Federal Processing: A prompt federal processing timeframe is anticipated, with most posts taking approximately 9-12 months to complete.
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Processing Time

12-24 months

PEI PNP Criteria

  • Intention to Settle and Manage a Business in PEI: Applicants must have a genuine intention to settle in Prince Edward Island and actively manage, invest in, or own a business in the province.
  • Minimum Investment in a PEI Business: Applicants are required to make a minimum investment in a PEI business as per the regulations outlined in Section 87 of the Immigration and Refugee Protection Act (IRPA).
  • Minimum Net Worth: The principal applicant, combined with their spouse’s assets, must have a minimum net worth of $600,000. This net worth must be verified by an independent third party.
  • Source of Funds: Applicants must be able to provide documented evidence of the source of funds for the $600,000 net worth requirement. The funds must be earned through the applicant’s own efforts, and loans or gifts cannot be considered valid sources.
  • Age Requirement: Applicants must be between 21 and 59 years of age at the time of application.
  • Education: A minimum of 12 years of schooling, equivalent to completing secondary school, is required.
  • Management or Business Ownership Experience: Applicants must possess a minimum of 3 years of transferable management or business ownership experience within the past 5 years. This experience should involve direct management of at least 3 employees.
  • Proficiency in English or French: Basic proficiency in either English or French is required, with a minimum Canadian Language Benchmark (CLB) level of 4 or greater.
  • DFAIT Permit for Syrians: Syrian applicants must obtain a permit from the Department of Foreign Affairs, Trade, and Development (DFAIT) before applying for the program.

Application Process

 

  1. Review Applicant’s Qualification (Initial Stage): In the initial stage, the applicant’s qualifications and eligibility for the Provincial Nominee Program are reviewed. This includes assessing factors such as education, work experience, language proficiency, and other specific criteria set by the designated province.
  2. Submission of application to the designated province: Once the applicant’s qualifications are reviewed and deemed suitable, the application is submitted to the specific province for further processing. Each province has its own application forms and requirements that need to be fulfilled.
  3. Review by Provincial Immigration Officer and Invitation for Interview: The Provincial Immigration Officer thoroughly examines the applicant’s file, considering various aspects such as the completeness of the application, supporting documents, and adherence to the program’s criteria. If the officer finds the application satisfactory, an invitation for an interview may be sent to the applicant to assess their suitability for the program.
  4. Exploratory Visit (Minimum 5 Days): As part of the Provincial Nominee Program, applicants are typically required to conduct an exploratory visit to the designated province. This visit allows them to become familiar with the province, its communities, and employment opportunities.
  5. Summary of Visit to be handed over to the Immigration Officer: Following the exploratory visit, the applicant prepares a summary report detailing their observations, experiences, and potential settlement plans. This report is then submitted to the Provincial Immigration Officer as supporting documentation for the application.
  6. Issuance of Nomination Certificate (If approved): If the applicant meets all the requirements and is approved by the province, they are issued a Nomination Certificate. This certificate confirms that the province has nominated the applicant for immigration under the Provincial Nominee Program.
  7. Federal file to be submitted (Federal Stage): After receiving the Nomination Certificate, the applicant must submit their federal file, which includes additional forms and documents required by the federal government. This file is assessed by the federal immigration authorities to ensure that the applicant meets all the necessary federal immigration requirements.

It’s important to note that the specific steps and requirements may vary slightly depending on the province and the particular Provincial Nominee Program stream being applied to.

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      Frequently Asked Questions

      The processing time for the Prince Edward Island Program is 12 to 24 months.

      The minimum investment amount required for the Prince Edward Island Program is $150,000 in a PEI business, as stipulated in Section 87 of IRPA regulations.

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