Find out what it takes to be eligible for Canadian immigration and begin your clear path to CanadaContact Us
The Prince Edward Island Provincial Nominee Program (PEI PNP), an entrepreneur immigration program in Canada, was first introduced in 2001. The Business Work Permit stream of PEI PNP is for foreign nationals with business ownership or extensive management experience who would like to immigrate to the Canadian province of Prince Edward Island to start their business and eventually obtain permanent resident status in Canada. Successful applicants first move to PEI on a work permit, before eventually transitioning to permanent residence if certain business-related targets are satisfied.
In January 2018, the government of PEI introduced the new PEI PNP using an Expression of Interest (EOI) system enabling the government to select better-qualified applicants based on a points-based selection grid.
Interested applicants of Canada’s PEI Provincial Nominee Program, using a paid representative, must create a profile online through an Authorized Island Agent. Applicants will be ranked based on human capital and adaptability factors. Only the highest-ranked applicants will be invited to submit an application for PEI PNP. Profiles created on the EOI system will be retained for 6 months and will automatically expire if applicants are not selected within 6 months. Profiles may be updated at any time during the 6 month period. If an applicant is invited to apply by the PEI government, their profile will be removed.
The PEI government has selected a number of “Island Agents” that are authorized to submit applications under the Business Impact Category on the applicant’s behalf. All paid representatives must use an Island Agent.
The Work Permit Stream of the Prince Edward Island Provincial Nominee Program is for applicants who are interested in coming to PEI on a work permit and operating a business for a minimum of one year prior to receiving a nomination for permanent residency in Canada. The applicant will be required to sign the necessary agreements after meeting the program criteria. Upon meeting the terms and conditions of a performance agreement, the applicant will be nominated by the Office of Immigration, Settlement and Population for permanent residency to Canada.
An applicant must meet the following requirements in order to submit an Expression of Interest (EOI) profile for Canada’s Prince Edward Island immigration program.
Age: 21 ~ 59 at time of EOI application
Education: Have a minimum education of secondary school equivalent
Language: Minimum language proficiency requirement equivalent to CLB 4 (IELTS: Reading 3.5, Writing 4.0, Listening 4.5, Speaking 4.0)
Net Worth: A minimum verifiable net worth of $600,000 CAD.
Only 30 % of the applicant’s business assets to be counted towards total net worth up to a maximum of $600,000 CAD ($180,000 CAD)
Assets that will not be considered as part of Net worth:
1) Gifts and personal loans
2) Ownership of properties with proofs other than property deeds and titles. i.e. contracts will not be accepted.
3) Joint ownership other than spouse and principal applicant.
4) Business assets with less than 70% ownership.
Management Experience: Must have min. 3 out of 5 years with transferrable management skills and/or business ownership experience
Senior manager: Supervising at least three full time employees under the position
Business owner: Having at least 20% ownership and have an active role in daily operations
Interview: Must attend interview in PEI after exploratory visit for 5 business days to gain knowledge about the Province and business environment
Previous PR applications: Applicants that have applied to another PNP will not qualify for PEI PNP. All applications in processing at a Visa post must be withdrawn before PEI will accept your application.
Business Operation in PEI: Live and operate a business for a minimum of one year in PEI prior to receiving a nomination for permanent residency.
Minimum Investment to business: $150,000 CAD
1. Online Expression of Interest profile submission
2. Invitation to Apply issuance
3. PNP Application submission
4. Notice of Invitation
5. TRV application process
6. Interview and business plan submission to PEI PNP
7. Signing business performance agreement
8. Work Permit Letter of Support issuance
9. Work Permit application process
10. Arrival on PEI. Work permit landing meeting with PEI PNP
11. Satisfying business performance agreement within 24 months
12. Nomination Certificate issuance
Anticipated processing time from PNP application submission to issuance of Work Permit Letter of Support is approximately 6 ~ 8 months. However, times may vary depending on both processing delays at PEI and preparation of documents by the applicants.
If you are interested in obtaining permanent residency in Canada and want to know more about the Prince Edward Island Provincial Nominee Program (PEI PNP) in Canada or have a question regarding Prince Edward Island immigration processes, do not hesitate to contact our Canadian immigration specialists at Simard & Associates.