Canada - Prince Edward Island Provincial Nominee Program Business Impact Category
Canada - Prince Edward Island Provincial Nominee Program Business Impact Category
The purpose of the Provincial Nominee Program (PNP) is to increase the economic benefits of immigration to Prince Edward Island (PEI) by providing the province with a mechanism to prioritize and nominate candidates for permanent residency. The federal government allocates on an annual basis a limited number of nominations to each province, PEIPNP Business Impact Category (PEIPNP Business) is a two-step immigration program that first allows you to obtain a work permit to run a business in Prince Edward Island. And in a second step, you may apply for the nomination certificate to apply for Permanent Residence after operating a business and living in PEI for a year.
Benefits
-
Lower investment amount than other PNP
-
Previous business experience is not a must
-
No minimum business income, net profit or numbers of employee requirements for your business in Canada
-
Simple requirement for Nomination Certificate
-
Can bring spouse and qualified children when you run your business
Requirements
To be eligible for the PEIPNP Business Impact Category (Entrepreneur Work Permit Stream), you must:
-
Be within 21-59 years of age
-
Minimum of CLB or NCLC 4 in English or French
-
Minimum education of secondary school
-
Minimum 3 years of transferable management or business ownership experience.
-
Have a minimum net worth of C$600,000
-
Intend to live and run a business in PEI
To be eligible for the Nomination Certificate of PEIPNP Business, and Permanant Residence, you must:
-
Invest at least C$150,000 into the business in PEI
-
Operate a business in PEI for at least 12 months
-
Must have financial statements for at least 12 months
-
Must incur at least C$75,000 in operating expenses in the 12 months.
Procedures
Step 1: Retain Anlex Consultants to arrange an exploratory trip to PEI
Step 2: create an Expression of Interest
Step 3: Receive Invitation to Apply
Step 4: Submit Application to the Government of PEI
Step 5: Receive File Number and request letter
Step 6: Interview with the Government of PEI
Step 7: Receive Support Letter
Step 8: Submit Work Permit Application to IRCC
Step 9: Receive File Numbers and Request Letter
Step 10: Receive Work Permit
Step 11: Live and Run Business in PEI for 12 months
Step 12: Submit Application for Nomination Certificate
Step 13: Receive Nomination certificate
Step 14: Submit the application for permanent residence
Step 15: Receive file number and request letter
Step 16: Receive the result of the application