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Prince Edward Island Business Impact – Work Permit Stream (PEBWP)

Prince Edward Island Business Impact - Work Permit Stream

immilib.com/PEBWP

Selection
  • P.N.P: Provincial Nominee Programs
  • E.O.I: Expression of Interest
  • P.S: Point System
  • S.D: Sponsor-driven
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PE-SB

SUMMARY

Prince Edward Island Provincial Nominee Program (PEI PNP)

The Prince Edward Island’s Work Permit Stream of Business Impact Category is for foreign nationals interested in owning and operating a business in PEI who would like to apply for a nomination for permanent residency through the PEI PNP.
Approved applicants must operate a business in Prince Edward Island on a Work Permit (WP) for at least one (1) continuous year before being nominated for permanent resident status in Canada.
Application to the stream is by invitation only. You should first complete the online Expression of Interest (EOI). Selected applicants will be invited to apply for the program based on the information they enter online. You cannot apply directly to this program unless you are invited to apply.

Ready to take the next step towards your Canadian immigration journey? Fill out the form below and embark on your path to new opportunities.

PE-SA

MINIMUM REQUIREMENTS

The following requirements must be met if you are applying to the Prince Edward Island Business Impact Category:

1- Age

You must be between 21 and 59 years of age.

2- Net Worth

You must have net worth of at least $600,000 CAD which has been accumulated through legal and legitimate sources.
The minimum ownership for a business value to be included toward net worth is 70%, and the maximum to be used towards net worth is $180,000.
Private loans, Inherited and Gifted Assets Private loans and/or gifts cannot be included to meet the net worth requirement. Inherited assets will be considered with a copy of a death certificate and will. Vehicles and gifts cannot be included in net worth.

3- Language Ability

Language ability can be verified by one of the following:
  • An approved test results taken with a minimum score of Canadian Language Benchmark CLB 4 in all for abilities in English or French (➨Appendix 5). Test must be taken no more than two (2) years prior to submission of your application.
  • Documents from an internationally recognized institution (Bachelor or higher) indicating that the principal language studied was in English or French.

4- Education

You must have a minimum of Canadian high school diploma or equivalent foreign credential, taken in the last five (5) years prior to the date the EOI is submitted.

Candidates with a foreign education must provide an Educational Credential Assessment (ECA) report (➨Appendix 3) for their foreign education.

The ECA Report must not be more than five (5) years old prior to the date the application is submitted.

5- Business Experience

There is no confirmed minimum ownership or management experience for the Business Impact Category. However you receive points for your experience and you are unlikely to be accepted without meeting one of the following:
  • At least three (3) years’ experience in the last five (5) years managing and owning a business (20% ownership minimum).
  • At least five (5) years’ experience in the last seven (7) years in a senior business management role (less than 20% ownership).

6- Ineligibility

You are not eligible to apply under the Prince Edward Island Express Entry Stream if you are a refugee claimant in Canada, a failed refugee claimant, had a removal order, are prohibited from entering or being in Canada, do not have status in Canada or are living illegally in your country of residence.

Ready to take the next step towards your Canadian immigration journey? Fill out the form below and embark on your path to new opportunities.

PE-MRA

PEI BUSINESS REQUIREMENTS

In order to qualify as an eligible business under the Business Impact program, you must have an intention to buy or establish a business in Prince Edward Island that meets the following criteria:

1- Business Investment

You must make a minimum of equity investment of $150,000 CAD into starting or buying a business within twelve (12) months of landing in PEI. Please note that the equity investment does not include the operating costs of business.
Your business must have incurred at least $75,000 CAD in Eligible Operating Expenses in the twelve (12) month period from the start day of your business.
“Eligible Operating Expenses” are expenses of the business excluding those expenses as outlined below:
  • The purchase of capital assets;
  • The amortization of capital assets;
  • Travel expenses in excess of $5,000;
  • Any expenses deemed to be personal in nature;
  • Wages paid to yourself, your spouse or dependent children;
  • Wages deemed to not be comparable to industry standards in PEI;
  • Rental space that does not meet the eligible qualifications.

2- Business Ownership

You must own at least one third (33.33%) of the equity of a business in PEI, unless you make an equity investment of at least $1,000,000 CAD.
If the Business is being purchased, the Business must have been established and operating for a period of at least twelve (12) months.

3- Type of Business

The business purpose must be to make a profit from active income through the sale of goods and/or services.
The following types of businesses are not eligible under PEI Business Impact Stream:
  • Any business that has received investment through the Provincial Nominee Program within the past 48 months.
  • Bed and breakfasts, hobby farms and home-based businesses.
  • Small size Inns or Boutique Hotels.
  • Pay day loan, cheque cashing, money changing, and cash machine businesses.
  • Pawnbrokers.
  • Sale of used goods (excluding collectibles, or where the business provides value-added services such as repairs, refurbishing, or recycling).
  • Small size Construction/Renovation businesses.
  • Real estate development, unless deemed to be a significant economic benefit to the PEI economy.
  • Insurance or business brokerage.
  • Franchise operations, unless pre-authorized by the PEI PNP office.
  • Start-ups, where Applicant will own less than 100% of business unless deemed to be significant economic benefit to the PEI economy.
  • Businesses started for the sole purpose of gaining access to permanent residency through immigration.
  • Professional practices, financial services, and consulting services.
  • An entity that cannot issue shares.
  • A business operated primarily for the purpose of deriving investment income such as interest, dividends or capital gains.
  • Any other type of business that by association would tend to bring the program or the Government of Prince Edward Island into disrepute.

4- Active Management

You must provide active and on-going participation in the day to day management and direction of the business at the business site.
You, and your dependent(s), as applicable, shall reside in the Province of Prince Edward Island for a minimum of 274 days per year.

CALCULATE YOUR SCORE

If you meet the minimum criteria, then you must calculate your total score based on the following selection factors. There is no minimum required score. But you will be ranked based upon your points assessment score and placed in an Expression of Interest (EOI) pool.

Candidates will be ranked against each other and only top ranked candidates will be invited to apply. A draw will occur with the top ranked candidates and consideration of connection to, and interest in PEI being selected and issued an invitation to apply (➨immilib.com/PEBWP-Grid).

Selection Factor Maximum Points
Factor 1: Age 30
Factor 2: Language Ability 50
Factor 3: Education 20
Factor 4: Business Experience 50
Factor 5: Community Endorsement 35
Factor 6: Adaptability 15

Factor 1: Age

You’ll get points based on your age on the day you enter in your EOI profile.
Age Points
Under 21 Not Eligible
21-24 7
25-44 30
45-49 20
50-54 10
55-59 0
Over 59 Not Eligible

Factor 2: Language Ability

To be awarded point for language, you must have taken an approved test results (➨Appendix 5). Test must be taken no more than two (2) years prior to submission of your application.

The lowest score achieved in the four (4) skills (Reading, Writing, Speaking, and Listening) is your score.
First Official Language (English or French)

First Official Language

(Lowest score in any of 4 skills)

Points
CLB 10 40
CLB 9 40
CLB 8 35
CLB 7 30
CLB 6 20
CLB 5 10
CLB 4 or proof of post-secondary completion in English or French (3 years) 0
Less than CLB 4 Not Eligible
Bonus point for both languages at CLB 4 or higher

Both Languages

Points
At least CLB 4 in all of the 4 skills (both languages) 10
Less than CLB 4 in any of the 4 skills 0
To prove your language abilities you must take any of the following approved tests:
  • English: IELTS General or CELPIP General or PTE Core
  • French: TEF Canada or TCF Canada

To find out the equivalent CLB level for any of the above approved tests, see (➨Appendix 5).

Proof of post-secondary academic degree (Bachelor or higher) awarded by a college or university for completion of a program that required at least three (3) years of full-time study in English or French is assessed as CLB 4.

Factor 3: Education

You will be awarded points for your educational credential.

Level of Education Points
Master’s or Doctoral (PhD) level (after completion of a Bachelor’s or Master’s degree) 20
Three-year or longer post-secondary credential 17
One-year post-secondary credential 12
Secondary school/high school diploma 0
No Secondary school/high school diploma Not Eligible

Factor 4: Business Experience

You may claim points based on your business experience. The number of points is based on your past business ownership experience OR senior management experience.

Business Ownership Experience Points
Ownership (greater than 50%) and management – 5 years in the past 7 years 50
Ownership (greater than 50%)) and management – 3 years in the past 5 years 40
Ownership (20% to 50%) and management – 5 years in the past 7 years 35
Ownership (20% to 50%) and management – 3 years in the past 5 years 25
Senior Management Experience Points
Senior Manager or Ownership less than 20% – 5 years in the past 7 years 30
Senior Manager or Ownership less than 20% – 3 years in the past 5 years 20

Factor 5: Community Endorsement

You can earn Community Endorsement points based on a signed endorsement from a participating PEI community.
Community Endorsement Points
Written endorsement from rural community (Alberton, Georgetown, Kensington, Montague, O’Leary, Souries, Summerside, Tagnish) 35
Written endorsement from a community within capital region (Charlottetown, Cornwall, Stratford) 10

Factor 6: Adaptability

You can get maximum of 15 points for any combination of the following factors:
Adaptability Points
Dependent child(ren) have been enrolled in a PEI educational institution for at least 6 continuous months 10
Spouse/common-Law Partner successfully graduated from a post-secondary institution in PEI 5
Spouse/common-law partner’s and/or dependent child(ren) Language level at least CLB 6 in all abilities in English of French 10
Spouse/common-law partner has at least 3 years of work experience in the last 5 years 5
Yours or your spouse/common-law partner’s relatives living in PEI for at least 12 consecutive months (parent, grandparent, sibling, aunt, uncle, niece, nephew), living in Canada as permanent resident or citizen 10
Experience in farming, transferrable farming skills and plan to operate a farm in PEI (operation of a registered business where income was derived for a minimum of 3 out of the last 5 years or 5 out of 7 years. The PA must have ownership and be actively involved in the day-to-day operations of the company) 10
Your Total Score  

GCYSA

PE-CYSA

WHAT STEPS SHOULD YOU TAKE?

If you meet all the requirements and if you believe you are likely to be invited based on your score, you can start the process to apply under PEI Business Impact Category – Work Permit Stream.
If you decide to use a paid representative, your file must be submitted through an approved Island Agent. The Island Agent will charge fees for their services. The following is a list of Island Agents who are approved to submit files through the Business Impact Category:
  • Abegweit Immigration
  • AIM 4 Inc.
  • Bether Capital PEI, Inc.
  • Can-nection Immigrant Business Investments Ltd. (CIBI)
  • Confederation Capital 
  • Global Bridge Immigration Advisors PEI Inc. (“GB PEI”)
  • KC Immigration Services Inc. (KCIS) 
  • Launching Point Immigration Services, Inc.
  • Mazu Consortium, Inc.
  • New Island Opportunities Inc.
  • Sunrise Immigration and Investment 
  • Western Immigration Opportunities, Inc.

Step 1: Submit an Online Expression of Interest (EOI)

Now that you meet all the requirements, you can complete an online Expression of Interest (➨immilib.com/PEBWP-Apply) for yourself.

EOI is an online system where you submit information about yourself to the PEI Provincial Nominee Program.
To complete the EOI, you’ll need information from some documents including passports, language test results, etc. But you don’t need to upload any documents.
After you submit the EOI, the system will calculate your score based upon the information you enter and your EOI will be placed in a pool for potential selection. Your score will be sent to you in a confirmation email.
EOIs will be ranked against each other and only top ranked candidates will be invited to apply. A draw will occur with only the top ranked EOIs being selected and issued an invitation to apply.

Recent Draws – PEI Business

Impact Category

Date of Draw No. of ITA Min. Score
Mar 21, 2024 2 80
Feb 15, 2024 1 105
Jan 18, 2024 2 80
Dec 21, 2023 3 92
Nov 16, 2023 7 80
Oct 19, 2023 2 80
Sep 21, 2023 4 80
Aug 17, 2023 4 102
Jul 20, 2023 9 80
If your EOI is selected, you will receive an Invitation to Apply (ITA) letter. Selection is based on nominee program targets and an assessment of your EOI.
If you’re not invited to apply within six (6) months of submitting your EOI, it will automatically expire and removed from the system. You can still create a new EOI. If you are able to acquire additional points after submitting your EOI, you will need to submit a new EOI.
You can earn Community Endorsement points based on a signed endorsement from a participating PEI community. So in order to increase your point total, you may wish to visit a community in PEI and apply to get an endorsement.

Step 2: Get a Community Endorsement (optional)

If you seek community endorsement for additional points in the Expression of Interest (EOI) system, you are required to visit PEI and schedule an appointment with a representative in the community to discuss endorsement and provide an overview of your business concept.
At the meeting, you must be prepared to talk about family, education, and work, business concept, and why choosing the community and PEI in English.
If accepted, you can expect a written community endorsement at least seven (7) days after a community endorsement meeting.
You can only have one written community endorsement at a time. Each written community endorsement is only valid for one (1) year.
If you have a community endorsement, after final approval and arriving at PEI, you need to open a business in that community.
Participating PEI Communities:
Capital Regional Communities (10 points for EOI)
  • Charlottetown
  • Stratford
  • Cornwall
Rural Communities (35 points for EOI)
  • Summerside 
  • Souris 
  • Alberton
  • O’Leary
  • Montague 
  • Georgetown 
  • Kensington 
  • Tignish
The exploratory visit is not mandatory, but recommended. PEI PNP encourages all applicants to visit PEI to gain knowledge about the Province and its business environment. So if you are applying for community endorsement, following your visit and meeting, you are advised to prepare a detailed report of your whole trip. Your report on the visit must cover the entire length of your stay in Canada, including time spent in other provinces, if any. The information can be submitted as part of your Business Plan, including any relevant documents.
If you are not applying for endorsement, you may do your exploratory visit later when you are invited for an in-person interview at the PEI office of immigration.
To find out how you can travel to Canada for a temporary visit, see (➨Page).

Step 3: Net Worth Verification Report

As part of your application, you must provide a Net Worth Verification Report. This report must be prepared by one of designated Net Worth Verifiers. These verifiers are experts in assessing net worth and legal accumulation of net worth.

Please ensure that you hire a vendor with 15 days of receiving an Invitation to Apply. Service providers are required to complete a net worth verification report within the 90 days after you have received your ITA.

List of Prince Edward Island Designated Net Worth Verifiers

Grant Thornton LLP

Suite 410, 98 Fitzroy Street, PO Box 187,

Charlottetown PE C1A 7K4

(902) 892-6547

[email protected]

www.deloitte.ca

MNP LLP

 

 

(778) 374-2102

[email protected]

www.mnp.ca

Step 4: Submit Application to PEI PNP

If you’ve received an invitation to apply, you are expected to submit your application by providing the following:
  • Application forms;
  • Application fee;
  • All supporting documentation;
  • A Business Concept Summary.
  • Net Worth Verification Report
You will have sixty (60) calendar days from the issuance date of the ITA letter to submit your application.
There is a $10,000 application fee. If your file is not accepted, you will be refunded the entire application fee. If your file is declined or withdrawn prior to being interviewed by the Office, you will be refunded $7,500. If your file is declined or withdrawn after you have interviewed with the Office, the entire fee is non-refundable.
PEI PNP Application
Submit application to:

Office of Immigration

94 Euston Street, 2nd Floor

P.O. Box 1176

Charlottetown, PE Canada C1A 7M8

Official Program Guide:
immilib.com/PEBWP-Guide
PEI PNP Application Fee:
$10,000
Processing Time:
Not Available
Document Checklist:

immilib.com/PEBWP-Doc

(page 12)

Contact:

902-620-3628

[email protected]

Please note that at this stage you are not required to submit a complete detailed business plan. You will have to bring your detailed business plan to the interview after your initial application is accepted.
If you submit a complete application, it will be assessed against the eligibility criteria and your EOI points assessment will be verified.
After assessment of the application is complete, if you appear to meet the Eligibility Criteria you will be contacted to participate in an in-person interview. You will be required to travel to PEI to participate in this interview.
To find out how you can travel to Canada for a temporary visit, see (➨Page).

Step 5: Prepare a Detailed Business Plan

You will need to submit a detailed Business Plan as part of your application. Your business plan must be based on the same business concept that you submitted with your initial application. You must submit a business plan that demonstrates that the business will be viable and likely to provide material economic benefit to the economy of Prince Edward Island as a whole or to the local economy where the business will be located.
Your business plan will be reviewed to ensure that it meets program requirements and the commitments made in your application. Thus, this document should be drafted as an essential component of your application.

Step 6: Attend an Interview (and Exploratory Visit)

If your initial application is accepted, you will be invited to attend an interview with the staff of the Office of Immigration. It is advised that you do an exploratory visit at least one week prior to interview, especially if you haven’t done it earlier (at the community endorsement stage).
The interview will include discussions regarding family background, education, work experience, settlement plan, proposed business, etc. You must come to your interview prepared to discuss your business plan in detail.

Step 7: Business Performance Agreement

Upon completion of a successful in-person interview, you will be given a Business Performance Agreement for your review and signature.
You will be requested to submit a signed Performance Agreement during the interview. Should your application be approved, the signed agreement by Island Investment Development Inc. and the letter of support for a work permit will be issued.
Your Business Performance Agreement is your legal agreement with the Province of Prince Edward Island. It will state the amount you will invest in your business and the business sector where you will operate your business. The Business Performance Agreement will also list any other information relevant to your application including but not limited to: job creation, business succession, and business location. This is based upon the information you supplied in your Business Plan.

Step 8: Apply for Work permit

Upon receipt of your signed and dated Business Performance Agreement, PEI Immigration Office will issue you with a support letter for a Work Permit. A work permit allows you to settle in PEI and operate your business.

You must then provide the letter of support, your business plan and your signed Business Performance Agreement to the Government of Canada with an application for a temporary work permit (➨Page).

Step 9: Business Establishment in PEI

All approved applicants are required to meet with staff of office of Immigration within thirty (30) calendar days of their Arrival Date. During the meeting an Officer will be available to answer questions related to fulfilling the terms of the Business Performance Agreement and also refer you to other service providers for relevant information and guidance related to the establishment of your business or settlement in PEI.
You must operate your business for a minimum of one (1) year before you are eligible for nomination.

Step 10: Request for Nomination

You will be issued a nomination after you meet the terms and conditions of your Performance Agreement. The main requirements to receive a nomination for permanent residency include but are not limited to the following responsibilities:
  • Maintaining a residence with your accompanying family in Prince Edward Island while operating the business and be physically present in PEI for a minimum of 274 days of the year;
  • Investing a minimum of $150,000 into the business within 12 months of landing in PEI;
  • Operating the business for a minimum of twelve consecutive months;
  • Providing active and ongoing management of the business from within PEI;
  • Providing prepared financial statements noting a minimum of $75,000 in eligible operating expenses; and
  • Meeting all other terms and conditions of the Performance Agreement.
A reminder letter will be sent one year after the business is started, advising what documents to submit and when they are eligible to be submitted to apply for a nomination for permanent residency. Once you receive a nomination certificate, you must then apply to IRCC for permanent residency.

Step 11: Apply for Permanent Residence

If you are nominated by the province of Prince Edward Island, then your next step is to submit a complete application for a permanent resident visa (➨Page).

You must submit your application using the IRCC Permanent Residence Portal (PR Portal) (➨ immilib.com/PR-Portal). 

If your application is complete, you will receive a letter or an email confirming that your file has been received and accepted for processing. This letter is called the Acknowledge of Receipt (AOR) and will include your IRCC file number.
Once you have received your acknowledgement of receipt, you can create an online account and link your application to it. By creating an account, you will be able to receive email updates and a more detailed case status.

Step 12: Landing in Canada

If your application is approved, you will be asked to pay your right of permanent residence fee if you haven't already done so. You will receive a Confirmation of Permanent Residence (CoPR) and if you are from a country that requires a visa you will also be issued a permanent resident visa.
You will only become a Permanent Resident of Canada when you cross a Canadian port of entry. This is referred to as ‘landing in Canada' (➨Page).
You must land in Canada before the expiry date, which appears on your Canada Immigration Visa. Usually, the expiry date is one (1) year from the time medical examinations were completed. As this is not always the case, be sure to verify the expiry date as soon as the Canada Immigration Visa is received.

Ready to take the next step towards your Canadian immigration journey? Fill out the form below and embark on your path to new opportunities.

PE-WSYTA

WELCOME TO PRINCE EDWARD ISLAND!

GWA
PE-WA

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