On September 12, Canadian time, the immigration office of Prince Edward Island (PEI) announced on its official website that it would close its existing direct permanent residency entrepreneur immigration program. The program will be transitioned to a work permit-first model, where a provincial nomination certificate will be issued only after one year of business operation, followed by an application for permanent residency through the federal government. From this point on, there is no longer a direct permanent residency entrepreneur immigration program in PEI, Canada!
Chris Palmer, Minister of Economic Development and Tourism for PEI, stated at a press conference that the provincial government has recognized the need to "scrutinize our immigration programs more rigorously." After consulting with the Canadian federal government, the PEI government decided that it would no longer accept applications from immigrants seeking to conduct business in the province in exchange for direct permanent residency.
Palmer emphasized that before the provincial nominee program closes, an EOI draw will be held on September 20. This will be the final draw under the direct permanent residency model, with a maximum of 10 applicants to be selected.
Following the closure of the PEI entrepreneur immigration program that offered direct permanent residency, entrepreneurs or executives still have the opportunity to apply for immigration to PEI. However, applicants will not be able to land in Canada directly as permanent residents. Instead, they will need to first apply for and obtain a work permit, operate a business in PEI for one year, and then submit a provincial nomination application to obtain permanent residency. This is the so-called "work permit to permanent residency model."
The alignment of the PEI entrepreneur immigration model with the policies of provinces like Saskatchewan and Manitoba, shifting to a work permit to permanent residency model, means that the era of PEI entrepreneur immigration offering direct permanent residency is gone forever. However, for younger applicants, obtaining a work permit in advance means that their children can enter Canada earlier to enjoy Canada's advanced education, healthcare, and related supporting services, which may not necessarily be a bad thing.
As everyone knows, Canada's immigration policies have been constantly changing in recent years. From the innovative adoption of the work permit to permanent residency model in Saskatchewan to Manitoba, and now PEI, it can be seen that the work permit to permanent residency model may become an inevitable new policy trend for Canadian investment immigration in the future. It is recommended that investors who are interested in immigrating to Canada and meet the application requirements should seize the opportunity and submit their applications as soon as possible for peace of mind.
Worldway Immigration Group, a top 500 Asian brand and a leading institution in the investment immigration industry, offers high-quality Canadian investment immigration programs, including the Quebec Immigrant Investor Program with low thresholds and direct permanent residency, the Saskatchewan and Manitoba entrepreneur immigration programs that allow for quick landing, and the New Brunswick entrepreneur immigration program that offers direct permanent residency, helping investors realize their dreams of moving to the Great White North and establishing a second home overseas. For details, please call: 400-138-2929.