If you are interested in immigrating to Canada to invest in and run a business, the province of Prince Edward Island (PEI) might be the right destination to makes these dreams a reality.
The Business Work Permit stream of the Prince Edward Island Provincial Nominee Program (PEI PNP) is for foreign nationals with business ownership or extensive management experience who would like to move to PEI to start their business.
Successful applicants first move to PEI on a work permit, before eventually transitioning to permanent residence if certain business-related targets are satisfied.
PEI PNP Work Permit stream eligibility
To be eligible for nomination through the PEI PNP Work Permit stream you must:
- have a minimum verifiable personal net worth of $600,000, accumulated through legal and legitimate sources in your own right;
- have a minimum education of secondary school equivalent;
- be within 21-59 years of age at the time of application;
- have transferable management skills and past employment or business ownership experience;
- meet minimum language requirements equivalent to a Canadian Language Benchmark (CLB) 4;
- intend to live and work in PEI while providing day-to-day active and ongoing management of your PEI-based company;
- attend an interview with staff from the PEI Office of Immigration; and
- meet the terms and conditions of the Performance Agreement signed with the Office of Immigration.
PEI PNP Work Permit stream application process
If you meet the eligibility criteria outlined above, you may then create a profile in the PEI Expression of Interest system, outlined below. You will be asked to provide a valid email address, and identification information including your passport details. Once your account has been verified, you will be able to proceed to complete your profile so that a ranking score (points) may be awarded best on your credentials. Applicants can only have one active profile at any one time.
Your profile will remain active for a period of six months. You must ensure information provided in your profile is accurate and verifiable. If your situation changes prior to being invited to apply, you may update your profile. If your situation changes after being invited to apply, you must contact the PEI PNP Office with the new information, as this may impact the ultimate decision on your file.
An Expression of Interest is not an application, but an indication of your interest in being considered to apply to the PEI PNP. If you are invited to apply you will receive an email notification that will include your file and instructions for submission of your file. If you are invited to apply you must complete the application forms.
If you are invited, you may apply; if you are are approved you will receive a letter of support from PEI for a temporary work permit so that you can move to Canada and establish the business in PEI.
After you are approved for a work permit, you must move to PEI and start your business. After you have fulfilled all of the terms and conditions of your Performance Agreement you will be issued a nomination certificate, allowing then to apply for Canadian permanent residence.
PEI PNP Work Permit stream application fees
There is no fee to submit an Expression of Interest (EOI) to the PEI PNP Work Permit stream. If you are selected for nomination by PEI, the application fee is $10,000 CAD, which must be submitted with your application. If your file is not accepted, the entire fee will be refunded. If your file is declined or withdrawn prior to you being interviewed by our office, $7,500 will be refunded. If your file is declined or withdrawn after you have interviewed with the PEI PNP, the entire fee is non-refundable.