Prince Edward Island Provincial Nominee Program: Entrepreneur Category
The Prince Edward Island Provincial Nominee Program (PEIPNP) is administered by the PEI Office of Immigration, in partnership with the federal government of Canada. The purpose of the PEIPNP is to increase immigration to PEI, to meet PEI’s demographic and economic goals. It is an excellent immigration vehicle for newcomers who wish to relocate to a safe and secure, small community with a relaxed pace.
Applicants are selected monthly from the Expression of Interest pool, and invited to apply. The PEIPNP nominates applicants who are expected to make a positive economic and cultural contribution to PEI.”
The benefits of the Work Permit stream include the following:
- Small initial payment of $5,000 (plus $15,000 to be paid upon Invitation to Apply, $45,000 to be paid after 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 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)
To qualify under the Prince Edward Island Provincial Nominee Program, the applicant must meet the following criteria:
- Intend to settle in PEI, and to manage, invest in, or own a business in PEI.
- Make a minimum investment of $150,000 in a PEI business in accordance with Section 87 of the IRPA regulations.
- Have minimum $600,000 in Net Worth (principal applicant’s and spouse’s assets combined).
- Be able to document the source of funds for $600,000 (it must be earned through the applicant’s own endeavours; loans, gifts, and inheritance cannot be used).
- Be between 21 and 59 years of age.
- Have completed at least 12 years of school (completed secondary school).
- Have minimum 3 years (in the past 5 years) of transferrable management or business ownership experience, directly managing at least 3 employees.
- Have basic proficiency in English or French (minimum CLB 4).
“Known as the “Garden of the Gulf”, Prince Edward Island is located in the Gulf of Saint Lawrence, north of Nova Scotia and east of New Brunswick (with which it forms the Northumberland Strait).
The island has two urban areas. The capital city of Charlottetown is the largest, and is situated centrally on the island’s southern shore. Situated 40 kilometres west of Charlottetown, is the city of Summerside.
The island’s landscape is pastoral: rolling hills, pristine forests, white sand beaches, ocean coves and the famous red soil. These combine to give Prince Edward Island a reputation as a province of outstanding natural beauty.
Today, the Island is enjoyed by tourists who visit during all seasons. They enjoy a variety of leisure activities, such as beaches, golf courses, eco-tourism adventures, touring the countryside, and enjoying cultural events held in local communities.
About education, PEI has over 65 public schools, 03 private schools. In which, the University of Prince Edward Island offers Undergraduate degrees, Graduate degrees in Veterinary Medicine, Science, Arts, Education and Applied Health Services Research and Masters in Business Administration. Holland College (ISO 9001: 2000 certified) offers vocational schooling with programs in Business, Computer Studies, Culinary Arts, Applied Sciences, Engineering Technology, Health and Community Services, Marine Training, Media and Communications, Policing / Law Enforcement, Sports and Leisure, and Tourism.