PEI PNP was first introduced in 2001. There are three main streams: 100% Ownership Stream, Partial Ownership Stream, Work Permit Stream. In the 7 years of the Program, thousands of applicants attained permanent residency through the PEI PNP.
BUSINESS IMPACT CATEGORY OVERVIEW
100% Owenership Stream
An applicant who has management and entrepreneurial experience seeking to buy or start a new business in PEI with 100% ownership. The applicant must meet the program criteria and will be required to make a conditionally refundable deposit of $200,000 Canadian dollars to be held in escrow by the Provincial government.
Partial Ownership Stream
An applicant who has management and entrepreneurial experience seeking to partner with a PEI business. The applicant must acquire at least equal to or greater than ⅓ of the business equity or invest $1,000,000 Canadian dollars in the equity of the business. The applicant must meet the program criteria and will be required to make a conditionally refundable deposit of $200,000 Canadian dollars to be held in escrow by the Provincial government.
Work Permit Stream
The Work Permit Stream is for individuals interested in coming to PEI on a work permit and operating a business for a minimum of one year prior to receiving a nomination for permanent residency. The applicant will be required to sign the necessary agreements after meeting the program criteria. Upon meeting the terms and conditions of a performance agreement, the applicant will be nominated by the Office of Immigration, Settlement and Population for permanent residency to Canada.
BUSINESS IMPACT CATEGORY QUALIFICATION CRITERIA
– Age: 21 ~ 59 at time of application
– Education: Minimum 12 years of formal education
– Language: A minimum language requirements equivalent to a CLB 4 (The Canadian Language Benchmarks)
– Net Worth: A minimum of $600,000 Canadian dollars.
– Management Experience: Must have 3 years of management experience demonstrating transferrable management skills
ESCROW DEPOSIT ($200,000)
Bussiness Portion: The $150,000 business portion can be refunded after you meet the terms and conditions of your signed Escrow Agreement, including operating your business for a minimum of 12 consecutive months.
Residency Portion : $50,000 of the deposit is tied to residency only.
+ $25,000 will be refundable if the applicant has lived in PEI for at least 6 months since landing in PEI.
+ Another $25,000 will be refundable after you reside in PEI for one year.
– Children can study free until the end of High School
– Live freely anywhere in PEI state
– Have all the benefits as Canadian residents
– Be naturalised if meeting the conditions