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.
Prince Edward Island Provincial Nominee Program: Business Impact Category means that nominees invest in and actively manage a business in Prince Edward Island.
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.
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
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.
Make Canada your second home
142,907 POPULATION US$36,740 GDP nominal (per capita) US$5.353 billion GDP (purchasing power parity)
CAPITAL CITY Charlottetown TIME ZONE Atlantic Daylight Time TOTAL AREA 5,660 km2 LANGUAGES English, French CURRENCY CAD$ (C$) MAIN INDUSTRY Aerospace, Agriculture, Bioscience, Fisheries
- World-class health care system, one of the best in the world
- One of the most respected Education System in the world
- One of the safest countries to live in, offering a high quality of life
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