The Province of Prince Edward Island has announced changes to the Business Impact Category of the Provincial Nominee Program. After September 20, 2018 the province will only invite entrepreneurs selected candidates through the Work Permit stream as the 100% Ownership and Partial Ownership streams will close. All candidates will continue to be invited through the Expression of Interest system and the draw schedule will remain unchanged.
This message is brought to you by PEI Office of Immigration. For more information, please visit the government webpage of Work Permit Stream.
Applicants who receive an Invitation to Apply (ITA) from the PEI Office of Immigration to apply for PEI PNP Business Impact Category under the 100% Ownership or Partial Ownership streams on or before September 20, 2018 will not be affected.
On September 20, 2018, there will be one last draw for no more than 10 applicants to apply for PEI PNP Business Impact Category under the 100% Ownership and Partial Ownership streams. PEI PNP Business Impact Category Work Permit Stream will remain open after September 20, 2018.
Applicants who have a current Expression of Interest (EOI) to apply for PEI PNP Business Impact Category under the 100% Ownership and Partial Ownership streams but have not yet received an ITA need to sign a new Applicant Agreement with GB PEI. GB PEI will update those EOI’s to Work Permit Stream by October 12, 2018.
PEI PNP Business Impact Category Work Permit Stream for entrepreneurs is still a great Canadian immigration program for business owners and senior managers for the following reasons:
- Escrow deposit is not required
- Work Permit Stream does not require any Escrow Deposit
- 100% Ownership and Partial Ownership streams require an Escrow Deposit of C$200,000
- Successful applicants can come to Canada earlier
- The processing time of Work Permit applications is about 3 months
- The processing time of Permanent Residence applications is about 6 months
- Short provincial processing time
- The processing time of PEI PNP Business Impact Category applications can be as short as 3 months from application submission to the result
- Lower English requirement
- PEI PNP Business Impact Category requires only CLB 4 (English) or NCLC 4 (French)
- Some other PNP’s require CLB 5 or NCLC 5 or above
- Net worth verification is not required
- PEI PNP Business Impact Category does not require a net worth verification from a third party
- Some other PNP’s require a net worth verification from a third party which may increase cost and time
We expect the minimum score to receive an ITA will come down when some applicants drop out of the EOI. If you have any question, please do not hesitate to contact us.