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Prince Edward Island Business Immigration Visa

The Prince Edward Island invites enthusiastic visionaries to their province who can contribute both economically and culturally to PEI. The Prince Edward Island’s Investment Immigration program went through a major change on the 20th of September, 2018. This small province of Canada has come up with dynamic programs to aid entrepreneurs to get nominated through PEI for their Permanent Residency in Canada. Prior to September 2018, there were 100% Ownership stream and Partial ownership stream which are now closed. Currently, PEI is recruiting entrepreneurs only from the work permit stream and only those who have submitted their Expression of Interest to set up business in PEI Province are considered. This program was earlier called the “Business Impact Program”.

Under this stream, the applicant

To be eligible for nomination through the 100% Ownership stream, you must:

  • Must first obtain a temporary work permit
  • Visit PEI to learn and understand about the business they are planning to invest in and the environment they would be working in.
  • Must follow the step-by-step process.
  • At the time of obtaining the temporary work permit, the applicant will have to sign agreements.
  • Once these rules and regulations mentioned in the agreements are met, the applicant will be nominated by the office of Immigration for Permanent Residency in Canada.

Eligibility

  • Minimum Investment of CAD$150,000 in a business and have a share of 33.33% and up in the business
  • Minimum showable Net worth of CAD $600,000, source of which should be legal.
  • Should have prior experience of managing and running business, need not own it
  • Complete and submit all required Federal and Provincial PNP forms and supporting documentation
  • Should apply to the CIC for approval of a work permit in PEI
  • Should possess a minimum education of high-school or equivalent
  • Should have scored a minimum band score of 4.0 on the CLB (Canada Language Benchmark)
  • Should provide a detailed business plan meeting all of the program criteria

Once all the terms and conditions are met by the applicant, which could take around 6months to 1 year, the office of immigration will receive an approval for the applicant. This is then forwarded to the CIC for adjudication for Permanent Residency for the candidate.

Upon landing in Canada, the applicant will have to enter an escrow agreement and start executing based on this agreement. During a course of 2 years, the applicant will have to report periodically about the progress of his business and the way it’s getting executed. Once all terms and conditions are met, the escrow amount of a minimum of $200,000 will be refunded to the applicant.

What XIPHIAS can do for you

  • XIPHIAS Immigration is an ICCRC registered firm and it is only such registered firms who have the permission to represent your case at the IRC.
  • We evaluate your profile to identify which pathway would best suit you.
  • We help you prepare the documents and application as would be required by the Express Entry system and the Expression of Interest
  • We provide guidance to ensure you achieve the Canadian Language Benchmark
  • We provide required post landing services that would help you settle in Canada
  • We can also help you get in touch with the business acumen in PEI




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