The Prince Edward Island of Canada is all set introduce new streams to its Provincial Nominee Program. In a bid to facilitate more skilled people and entrepreneurs to immigrate to the province, PEI is precisely coming up with revamped PNP.

The restored PNP includes a Business Impact Category, which is further divided into 3 streams; and a Labor Impact Category which consists of 4 streams under it. Let us have a look at the streams in brief:

Business Impact Category:

• 100% Ownership Stream: This stream lets those foreign nationals to enter PEI who possess total control of a business in the island, which could be possible through the purchase of an already exiting business or by starting up a business in the island province. In order to be eligible to apply under the stream, applicants must meet certain criteria. In addition to meeting the investment thresholds and minimum personal worth, applicants are required to deposit an amount of 100,000 Canadian Dollars, which is refundable in nature.

• Partial Ownership Stream: This stream is for those overseas nationals who intend to venture into the PEI’s business community, however, by sharing partnership in an existing PEI business. For the purpose, a potential immigrant must possess 33 1/3% of the equity of the business. Or, an applicant may also 1,000,000 Canadian Dollars in the equity of that business instead. In addition, the applicant must play active role in everyday management of the enterprise. Besides, this stream also requires applicants to meet investment threshold and minimum net worth.

• Work Permit Stream: This steam lets interested applicants to enter the island province in a bid to begin a life and new business. It allows them to start working on a temporary work permit, while educating themselves about the business in which they are intending to invest in near future before they are being nominated by the PNP for permanent residency.

Labor Impact Category

• Skilled Worker Stream: This stream lets PEI employers to hire skilled workers from outside Canada. The prospective nominees must have the necessary skilled required by employers, which must fall under A, B or O skill level under the NOC (National Occupational Classification). Besides, nominees must hold a post-secondary degree or diploma, as well as work experience in the occupation for which they are being nominated by employers.

• Critical Worker Stream: Under this stream, PEI employers can support foreign workers whom they hired for Canadian PR. This facilitates PEI PNP to meet the labor shortages in the province.

• International Graduate Stream: This lets PEI employers to recruit fresh international graduates who have graduated from any recognized Canadian university. For this purpose, graduate nominees must possess an offer of a regular employment from a PEI employer, which must be in their area of study. All international graduate nominees must possess a current post graduation work permit with the PEI employer. An applicant must be working for at least 6-month period with the employer while filing the application for PNP nomination.

• Family Connection Stream: This stream lets PEI inhabitants to support their close family members in entering the island province who have the potential to contribute to the PEI economy and cultural scenario.

Learn more about the specific PEI PNP streams on Abhinav Blog and get yourself prepared to kick-start the process with an Immigration and Visa Consultant. For instant assistance to immigrate, you can send your resume to ajay@abhinav.com for free-of-charge assessment for immigration.