If you wish to immigrate to the Canadian province of Prince Edward Island and make it big there with your business concept, then the category of Immigrant Entrepreneur of the Prince Edward Island Provincial Nominee Program is for you! The category allows international business persons/entrepreneurs to enter the province and start their own business or invest in some existing PEI businesses. The Provincial Nominee Program helps foreign individuals obtaining their permanent residence status in Canada as well.
Below are some of the eligibility criteria that every Immigrant Entrepreneur category applicant has to fulfill:
- Applicants must possess minimum personal wealth of 400,000 Canadian Dollars.
- Applicants must be willing to invest at least 200,000 Canadian Dollars in order to set up a new business or to buy a stake of less than 33 percent in an existing PEI business.
- Applicants must provide a business plan that seems viable in the PEI business, as well as economy scenario.
- Applicants must deposit a refundable amount of 100,000 Canadian Dollars. The amount is returned to the applicants after the establishment and completion of one year of residency in the province.
- Applicants must deposit a good faith amount of 25,000 Canadian Dollars. The amount is refunded after the completion of one year residence in Prince Edward Island.
- Applicants’ whose language proficiency, either in English or French is not up to the mark (required level) must deposit a minimum amount of 20,000 Canadian Dollars with the PEI government. When the applicants are able to demonstrate improved skills in any of the language after their arrival in the Canadian province, the amount is refunded.
- Applicants’ age must be less than 55 years.
- Applicants must possess many years of experience in managing and executing a business.
For more information, contact an Immigration and Visa Consultant!