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Business Impact Category
Canada Immigration Law Firm
The PEI PNP Business Impact category is designed for foreign national who are interested in investing in and actively managing a business in PEI. There are three streams under the business impact category:
- 100% Ownership Stream
- Partial Ownership Stream
- Work Permit Stream
1) 100% Ownership Stream
This PEI immigration stream is for foreign business people who have the determination and entrepreneurial spirit to either purchase an existing PEI business or for those who want to start their own business in PEI. In either circumstance, applicants under this program must own 100% of the business. The business must generate revenue by selling goods or services at arm’s length to third parties. As such, this excludes business operating primarily for the purpose of deriving investment income, real estate rental operations, investment companies and other non-active investment companies.
Below you will find some of the requirements necessary to be approved under this stream:
– Applicants must have the work experience, age and languages skills necessary to establish and operate a business in PEI.
– Applicants must submit English language exam results, a letter outlining the intention to move and settle in PEI, and a business proposal and business plan. Applicants may still have options if their test results are not satisfactory.
– Must own 100% and have an active role in the management of the business (for a minimum of 1 year).
– Applicants must provide evidence proving he or she has a personal net worth of $400,000 CAD and they must make a minimum investment of $150,000 in the new business they are buying or starting.
– The applicant must sign an escrow agreement and make a deposit of $100,000, which shall be returned once the terms and conditions of the agreement have been met.
– The company must be incorporated under the province’s Company Act or under the federal Canada Business Corporations Act (CBCA).
– Other conditions apply. Please contact us for help with your PEI immigration process.
2) Partial Ownership Stream
The PEI PNP Partial Ownership Stream is for those foreign nationals who wish to buy part of a business in PEI. Among many other requirements, the applicant must buy at least 1/3 of the business’ equity or make an investment of $1,000,000 in the equity of the business. Successful applicants under the Partial Ownership stream must meet the requirements listed below:
– Applicants must have the work experience, age and languages skills necessary to establish and operate a business in PEI.
– Applicants must submit English language exam results. Applicants may still have options if their test results are not satisfactory.
– Submit a letter outlining the intention to move and settle in PEI.
– Submit business proposal and business plan for the partial purchase of a PEI business.
– Must own 1/3 of a PEI business or make an equity investment of at least $1,000,000.
– Must have an active on-going role in the management of the business.
– Applicants must provide evidence proving he or she has a personal net worth of $400,000 CAD and they must make a minimum investment of $150,000 in the new business they are buying or starting.
– Sign an escrow agreement and make a deposit of $100,000, which shall be returned once the terms and conditions of the agreement have been met.
– Provide an investment agreement outlining the terms and conditions of the applicant’s investment.
– Among other requirements. Please contact us to help you with your PEI immigration process.
3) Work Permit Stream
This stream is much like that of the partial ownership stream, except that the applicant is granted a work permit to work in the PEI business they intend to invest in before making such an investments. This allows applicant’s to move to PEI faster and helps facilitate the applicant’s settlement and immigration to PEI. Upon meeting all the requirements and conditions of a performance agreement, the applicant will then be nominated to apply for their permanent residency. The requirements of this stream are the same as those listed under the Partial Ownership stream. Please contact our Canada immigration law firm so that we may help you with your PEI immigration process.