The 2017 intake for the Canada PEI Provincial Nominee Program is about to open, with applications being accepted starting in December. Prince Edward Island (PEI) is Canada's smallest province by both area and population. While few people are familiar with this province, the PEI Provincial Nominee Program has been open for over 15 years. However, as there are only 200 spots available each year, they are often snapped up as soon as they open. Therefore, clients considering the PEI program must prepare their documentation well in advance to have a chance at securing a spot. Below is a comprehensive introduction to the application requirements and process for the PEI Provincial Nominee Program.
PEI Investment Immigration Application Requirements
Legally acquired family net assets of at least 600,000 CAD;
At least 3 years of management experience within the last 5 years (applicable to both shareholders and senior executives);
Age requirement: 21-59 years old;
High school diploma or higher;
Must provide original IELTS test results with a score of 4 or higher (IELTS is not required if the applicant holds a bachelor's degree or higher from a recognized foreign institution);
Complete a business exploratory visit to Prince Edward Island for at least 5 days;
Upon receiving provincial nomination, deposit a 150,000 CAD entrepreneurship escrow and a 50,000 CAD residency deposit with the Prince Edward Island government.
PEI Investment Immigration Application Process
PEI Provincial Nomination Exploratory Visit Stage: Submit the full set of application documents, business proposal, and a 7,500 CAD application fee to the immigration office;
PEI Provincial Nomination Exploratory Visit Stage: Receive file number; E&O document submission; receive invitation letter for exploratory visit; apply for business visit visa;
PEI Provincial Nomination Exploratory Visit Stage: Travel to PEI for a 5-day exploratory visit and attend an interview;
PEI Provincial Nomination Exploratory Visit Stage: Submit the formal business plan and settlement plan;
PEI Provincial Nomination Exploratory Visit Stage: Receive pre-nomination letter and notification to pay the 200,000 CAD deposit;
PEI Provincial Nomination Exploratory Visit Stage: Complete the 200,000 CAD deposit payment and receive the formal provincial nomination letter.
PEI Provincial Nomination Federal Stage: Prepare federal application documents and submit to the federal government;
PEI Provincial Nomination Federal Stage: Receive federal file number; receive medical examination form; receive passport request letter.