PRINCE EDWARD ISLAND ENTREPRENEUR PROGRAM FOR CANADA PR
Interested business people with vision, leadership, and tenacity are sought for the Prince Edward Island Entrepreneur Program. A decision to invest in and run a business on Prince Edward Island will benefit not only the objectives of the company owner but the entire territory as a whole.
You can live a happy and contented life in this region because it provides attractive prospects for anyone who wants to make investments or start businesses in PEI with the goal of eventually settling there permanently.
The smallest province in Canada is called Prince Edward Island (PEI), and it is situated on the eastern side of North America. It can be the best place for you to move to Canada on business. PEI, which is well-known for its red-sand coastlines, lighthouse, thriving farms, and seafood, provides excellent chances for immigrants to prosper.
WHAT IS THE PRINCE EDWARD ISLAND ENTREPRENEUR PROGRAM?
Prince Edward Island Entrepreneur Program, also known as, Business Impact Category, offers this opportunity to global businessmen who meet the eligibility standards set by the provincial government.
A deal with the Government of Canada has made it possible for the Prince Edward Island Immigration Program for Entrepreneurs to achieve its aims to identify and nominate deserving candidates from around the globe who will own and actively operate a company that benefits the federal economy and generates employment opportunities.
According to the Prince Edward Island Entrepreneurs program, there are three immigration streams:
PRINCE EDWARD ISLAND ENTREPRENEUR PROGRAM – 100% OWNERSHIP STREAM
It is designed to draw seasoned business people who desire to live in Prince Edward Island and have considerable managerial or business-ownership experience. Candidates must launch a new business, acquire an existing one, and actively participate in running it on a daily basis. The stream can only be applied for by invitation.
PRINCE EDWARD ISLAND ENTREPRENEUR PROGRAM- PARTIAL OWNERSHIP STREAM
Prince Edward Island offers a partial ownership stream in an effort to draw foreign nationals with substantial management or business ownership expertise who want to invest in and run a PEI company.
PRINCE EDWARD ISLAND ENTREPRENEUR PROGRAM – WORK PERMIT STREAM
This stream may be able to nominate eligible candidates for permanent residence and allows them to invest in and run a business in PEI, Canada. Candidates, who have considerable managerial or business ownership experience and wish to temporarily relocate to PEI to launch their business before eventually becoming permanent residents, should apply through this stream.
ELIGIBILITY CRITERIA – PRINCE EDWARD ISLAND ENTREPRENEUR PROGRAM
You can build an account in the Expression of Interest (EOI) pool if you satisfy all of the eligibility standards listed by PEI PNP. Depending on factors including age, language proficiency, education, prior business ownership or management experience, community endorsement, and adaptability, your profile might earn up to 200 assessment points.
| Factor | Max Points |
| Age | 20 |
| Language | 40 |
| Education | 20 |
| Business ownership or senior management experience | 50 |
| Community endorsement | 35 |
| Adaptability | 35 |
| Maximum Points | 200 |
LANGUAGE PROFICIENCY
Candidates must submit official language test results proving language ability in English or French in accordance with Canadian Language Benchmark (CLB) level 4 in order to be eligible for the PEI Work Permit stream.
| CLB/NCLC 10 | 40 |
| CLB/NCLC 9 | 40 |
| CLB/NCLC 8 | 35 |
| CLB/NCLC 7 | 30 |
| CLB/NCLC 6 | 20 |
| CLB/NCLC 5 | 10 |
| CLB/NCLC 4 | 0 |
| Maximum | 40 |
WORK EXPERIENCE
Candidates must have job experience that exhibits management skills and business ownership expertise because the Work Permit Stream comes under the prince edward island entrepreneur program.
INVESTMENT REQUIREMENTS
Candidates must have an individual wealth of at least $600,000 CAD to be eligible for the Work Permit stream. Prior to receiving a provincial nomination for permanent residence, they must enter Canada with a work permit and run a business for at least a year. A performance agreement with the province is required of candidates.
BUSINESS REQUIREMENTS
- 50 Points for the Owner and manager who actively participate in daily operations and directly influence decisions (at least 50%) of each for 5 to 7 years.
- 40 Points for the Owner and manager who actively participate in daily operations and directly influence decisions (at least 50% of each) for 3 to 5 years.
- 35 Points for Owners (20–50%) and managers who actively participate in daily operations and make decisions for 5 to 7 years.
- 25 points for Owners (20–50%) and managers who actively participate in daily operations and make decisions for 3 to 5 years.
- 30 Points for the Senior Manager in charge of at least three employees and the main decision-maker in daily operations for 5 to 7 years.
- 20 Points for the Senior Manager in charge of at least three employees and the main decision-maker in daily operations for 3 to 5 years.
APPLY FOR CANADA PR WITH PRINCE EDWARD ISLAND ENTREPRENEUR PROGRAM.
The candidate must adhere to the application process’s detailed steps. The applicant will obtain a nomination letter from the government of Prince Edward Island if the Office of Immigration approves their application.
Following acceptance, the Office of Immigration will submit the nomination to CIC for review in order to determine your eligibility for getting permanent residence in Canada.
Step 1: Prepare and submit the business proposal and self-evaluation for the Business Impact Category.
Step 2: Interview at the Office of Immigration,
Step 3: Business and settlement strategies must be submitted to the Office of Immigration.
Step 4: Nomination for permanent residency is the fourth step.
Step 5: The final step involves receiving CIC approval, immigrating to Canada, and reporting to the Office of Immigration, Settlement, and Population.
Step 6: Adherence to the escrow agreement is step six.
Step 7: Receiving the deposit and successfully completing the escrow agreement’s criteria
BENEFITS OF THE PRINCE EDWARD ISLAND ENTREPRENEUR PROGRAM
Appealing business climate
In the area, small and medium-sized businesses prosper thanks to administrative assistance for growth, expansion, training, and innovation.
Supportive Infrastructure
Infrastructure that is industry-specific, contemporary, and business-friendly will support economic growth
Lowest Business Costs
Exceptionally competitive prices for skilled and proficient labor are among the lowest in Canada
Lower Expenses
Low living costs to support a good lifestyle with family
CONCLUSION
There are 12 provinces and territories in canada, and each of them has a separate immigration program. The simple program that requires a minimum amount of money and qualification is the prince edward island entrepreneur program. You can contact Basics of Immigration, BOI for further assistance.
WHY ALWAYS CONSIDER BASICS OF IMMIGRATION?
- Expert Visa counselors provide Step-by-step guidance through a secure, online process.
- Apt evaluation of credentials and faster visa processing.
- Identifying all potential hazards and roadblocks in securing a visa.
- Assistance with documentation, immigration rules, citizenship, and border control procedures.
- Multiple case assessment for better conflict resolution.
- Designated process managers to provide personalized guidance.
Just like the basics of anything act as “building blocks” forming a strong foundation for constructing complex structures. The Basics of Immigration serve as the foundational elements of moving abroad, for any aspiring immigrant.