How is PEI PNP Process recently change?
The purpose of the PNP is to increase the economic benefits of immigration to Prince Edward Island (PEI) by providing the province with a mechanism to prioritize and nominate candidates for permanent residency. The Business Impact Category supports foreign nationals who are interested in owning and operating a business in PEI and who would like to apply for a nomination for permanent residency through the PEI PNP. Recently, The PEI PNP has some changes on their selection process operates through an Expression of Interest (EOI) system which is points-based and used to assess potential candidates in advance of issuing an invitation to apply.
Step 1: Assess your EligibilityPrior to submitting an EOI profile, you must ensure you meet the following minimum criteria for the Business Impact Category:
- Be within 21-59 years of age at the time of application
- Have a minimum education of secondary school equivalent
- Meet minimum language requirements equivalent to a CLB 4
- Have a minimum verifiable personal net worth of $600,000 which has been accumulated
- Have transferable management skills and past employment or business ownership experience
Step 2: Create your ProfileIf applicants meet program requirements, they or their representatives (Island Agents) can create a profile in the EOI system. With this system, points are awarded base on criteria such as age, languages, education, management experience,adaptability….The maximum points are 200.
Step 3: Invitation to ApplyIf you are invited to apply, you will receive an email notification that will include your file number for your application submission and instructions. The frequency of invitations to apply is based on annual nomination allocations, processing capacity, and other provincial requirements.
Step 4: Prepare your ApplicationWithin 90 days from the invitation date, Applicants must prepare and complete all documents in the required list.
Step 5: Submission your application and application fee to Island Investment Development Inc. (IIDI)
Step 6: Attend an Interview and submission of bussiness plan with PEI OfficeIn the previous process, applicants submit business plan after the interview. However, after changes, applicant must submit business plan along with other information including family background, education, work experience, settlement plan, proposed business…. Applicants must come to the interview prepared to discuss their business plan in detail. The applicable agreement for their program will be reviewed and signed during the interview.
Step 7: Submission your Escrow Deposit (200,000 CAD)There are two parts of escrow deposit – a residency portion and a business 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
- The $50,000 residency portion can be refunded in two parts at two different times: $25,000 after you reside in PEI for six months,and $25,000 after you reside in PEI for one year
Step 8: Submission to Federal GovernmentAfter being approved, Applicant will receive a nomination certificate to submit permanent residency application to Federal Government.
Step 9: Landing in Prince Edward IslandApplicant must report to the Office of Immigration within 30 days of landing in Canada to remain in compliance with their Agreement. The above metioned points are some changes on PEI PNP selection process through EOI point-base system. Hope this information could be useful for those who want to immigrate through PEI PNP.