Prince Edward Island Provincial Nominee Program (PEIPNP) is a partnership between the Province of Prince Edward Island (PEI) (Immigration Services) and the Government of Canada. PEIPNP nominates applicants who are expected to make a positive economic and cultural contribution to PEI.
Program Overview
Prince Edward Island Provincial Nominee Program: Business Impact Category means that nominees invest in and actively manage a business in Prince Edward Island.
Program Benefits
Though the program is exclusively offered by the Prince Edward Island Government, it still allows the applicant to reside in Canada, which opens up doors to several benefits. Here are a few reasons why residing in Canada can prove to be advantageous.
- There are stern regulations to protect the environment, which has resulted in the environment being free of human interference.
- Canada is home to one of the most tolerant societies in the world.
- It offers a world-class healthcare and education system.
- It is one of the safest countries in the world.
- The standard of living here is very high.
- The Canadian passport offers various benefits with regard to international travel.
Program Qualifications
The PEI Business Immigration Program has certain criteria that the investor is required to fulfill as part of the overall program:
- Intend to settle in PEI
- Intend to manage, invest in, or own a business in PEI
- Persons must invest at least C$150,000 to start a new business, or purchase at least 33,33% of an existing business
- Persons with a minimum C$600,000 in earned Net Worth
- Persons is between 21 and 59 years of age
- Persons has to have completed at least 12 years of school (completed secondary school)
- Persons has to have minimum 3 years (in the past 5 years) of transferable management experience, directly managing at least 3 employees
Investment Options
The PEI Business Immigration Program is divided into 2 streams:
- Full Ownership Stream or 100% Ownership Stream
The applicant must invest C$150,000 (Canadian) into the province and submit a proper business plan with an escrow agreement worth $200,000. The applicant must agree to be actively involved in the business.
- Partial Ownership Stream
This stream is similar to the previous one. However, there are a few exceptions. Since ownership is partial, the investor is only required to abide by the minimum investment ratio. The minimum contribution remains the same i.e. C$150,000. The investor must own 33,3% of the business. However, if it is a multi-million-dollar venture, there are no specific ownership ratios. But, the minimum investment goes up to $1 million. The remaining requirements are identical to the ones followed in the Full Ownership Stream.
Fees
Adult (18 and over)
Processing fee ($530) and right of citizenship fee ($100) $630
Stateless adult (18 or over) born to Canadian parent
Right of citizenship fee ($100) $100
Minor (under 18)
Processing fee ($100) $100
Business immigration
- Quebec business immigration
- Self-employed people
- Start-up visa
Your application
Processing fee ($1625) and right of permanent residence fee ($515) $2,140
Your application (without right of permanent residence fee) $1,625
Include your spouse or partner
Processing fee ($850) and right of permanent residence fee ($515) $1,365
Include your spouse or partner (without right of permanent residence fee) $850
Include a dependent child $230(per child)
FAQs about Canada (PEI) & The Citizenship by Investment Program
- I am a citizen of another country. Will I lose that citizenship if I become a Canadian?
Under Canadian law, you can be both a Canadian citizen and a citizen of another country.
However, some countries won’t let you keep their citizenship if you become a Canadian citizen.
The consulate or embassy of your other country of citizenship can tell you whether this applies to you.
- What can I do if my citizenship application is refused?
You can apply for Canadian citizenship again. This new application must include all the required forms and documents, including a new application fee. There is no waiting period before you can reapply. However, you should make sure you meet the requirements for Canadian citizenship before you reapply.
If your citizenship application is refused, you may also seek judicial review of the decision by the Federal Court of Canada. This is not an appeal of the decision. You have thirty (30) days from the date on the refusal letter to apply.
- How long does the review process take?
Every effort is made to process applications for review as quickly as possible. Under the Act, the Minister has 45 days to determine whether or not to allow the investment. The Minister can unilaterally extend the 45 day period by an additional 30 days by sending a notice to the investor prior to the expiration of the initial 45 day period. Further extensions are permitted if both the investor and the Minister agree to the extension. If no approval or notice of extension is received within the applicable time then the investment is deemed approved. It is not unusual for the Minister to extend the initial 45 day review period by an additional 30 days to permit full consideration of the investment. In the case of investments in cultural businesses, the review will usually require at least 75 days to complete (ss.21, 22, 23).
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C$36,740 GDP (per capita)
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CAPITAL CITY Charlottetown
TIME ZONE Atlantic Daylight Time
TOTAL AREA 5,660 km2
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KEY ADVANTAGES
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- One of the safest countries to live in, offering a high quality of life
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Disclaimer The materials contained in this page are provided for general information purposes only and are not intended to provide legal or other professional advice. Processing times and costs will vary depending on a number of factors. CitizenMatch is not responsible for any changes to the time and cost estimates; we can provide specific information on an individual basis. All rights reserved.