PEIPNP Application Process: Full Ownership Business Stream

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100% Ownership Stream Application Process

The Business Impact Category provides the opportunity for foreign nationals who wish to work and live in Prince Edward Island to be nominated by the Province thus becoming permanent residents of Canada. The purpose of this program is to attract businesspersons who are willing to make an equity purchase in and actively manage a new or existing business in Prince Edward Island.

Applicants must meet the program’s criteria in the stream they are applying under. Immigration Services requires all applicants to submit a business proposal and a complete application with all required documentation to support the eligibility, experience, language ability, business acumen and financial capacity of the applicant to successfully operate a business in Prince Edward Island.

Applicants are required to identify the stream, which they are applying under, and the sector within Prince Edward Island in which they will likely be involved. Immigration Services will assess the application on the merits of the applicant to demonstrate the capacity to operate a prospective business based on the abilities, experience and business proposal.

Once the applicant has identified the potential business opportunity, has applied and been approved, the applicant is then required to arrange a five day exploratory visit to Prince Edward Island.  The applicant is then required to meet with Immigration Services to discuss both the process for nomination and the potential business opportunity. While in Prince Edward Island, applicants are required to not only meet with officials of the prospective business, if applicable, but also to examine the business environment and lifestyle looking at issues such as housing costs, education or recreational activities.  Upon completion of the exploratory visit, applicants are required to provide a business plan and settlement plan to Immigration Services for assessment.

100% Ownership Stream

After receiving approval, Immigration Services will forward the nomination to CIC for adjudication for permanent residency to Canada.  Upon Federal approval, a Canadian Visa for Permanent Residency and Landing in Canada document is issued.

Upon landing in Canada the applicant has two years with which to execute on the terms and conditions in the escrow agreement.  During this time the applicant will be required to report periodically on the progress towards meeting the terms and conditions of the escrow agreement.  As well, the applicant will be required to provide follow up information as part of ongoing evaluation of the program by Immigration Services.  Once the terms and conditions have been met and verified by Immigration Services, the applicant is eligible for refund of the $100,000 CAD escrow deposit, without interest.

The applicant must meet the requirements at each stage and receive approval prior to advancing to the next step.

Step #1 Complete and submit the Business Impact Category self-assessment, business proposal and application guide:

 

  • Read the entire application guide before completing the application forms.
  • Complete the self-assessment and score 50 or more points to proceed to the application guide.
  • The application guide provides detailed instructions and includes all forms.
  • Follow the checklist and answer every question, gather all required supporting documents and include the application fee.
  • Applicants should photocopy the complete application package for their records.
  • Deliver the application package to Immigration Services.
  • Notification to the applicant will occur when Immigration Services receives the application and a decision has been made.

Step #2 Make a 5 day exploratory visit and attend an interview with Immigration Services:

 

  • Upon review and having met the requirements of the Business Impact Category the applicant will be required to make an exploratory visit to Prince Edward Island and will be invited to an interview with Immigration Services.  The applicant is required to make the exploratory visit to gain knowledge about Prince Edward Island and its business environment. During the visit the applicant must meet with potential business officials (i.e. owners of businesses which may be invested in, etc), professional advisors (accountants, lawyers, bankers, etc.) and learn pertinent information about Prince Edward Island to aid in settling and integrating into Prince Edward Island.

 

Step #3 Submission of business and settlement plans to Immigration Services:

 

  • Following the exploratory visit to the province, the applicant is required to forward a formal business plan accompanied by a settlement plan for the applicant’s family, to Immigration Services for review.
  • Immigration Services must approve these plans prior to the applicant proceeding to the next step.

 

Step # 4 Nomination for permanent residency:

 

  • Upon being approved, the applicant will execute all required documents and agreements including an escrow agreement outlining the terms and conditions required of the applicant under the Business Impact Category in an identified Prince Edward Island business.
  • The applicant is required to make a conditionally refundable deposit of $100,000 CAD to Immigration Services subject to the terms of the escrow agreement.
  • The applicant will, upon signing the escrow agreement, receive a letter of approval and letter of instruction.
  • Upon receipt of the letter of approval, the applicant will need to apply to CIC to continue the immigration process for permanent residency to Canada.
  • The applicant will be required to provide the letter of approval to CIC along with all CIC forms, supporting documents and applicable fees.
  • CIC will provide notification to the applicant upon receipt of the application and a decision has been made. (Immigration Services makes no representation of processing times for permanent resident visas by CIC, for details visit http://www.cic.gc.ca/english/information/times/index.asp)

 

Step #5 CIC approval, landing in Canada and reporting to Immigration Services:

  • If approved by CIC for permanent resident status, the applicant will receive written confirmation and permanent resident visas will be issued.
  • Upon receipt of all the necessary documentation from CIC, the applicant will be able to complete the process of becoming a permanent resident by landing in Canada and obtaining a permanent resident card.
  • Upon arrival in Canada the applicant must contact Immigration Services within 30 days of arrival to register and arrange a post arrival appointment. To contact Immigration Services, please call (902) 620-3628 or email peinominee@gov.pe.ca

Step # 6 Compliance with the escrow agreement:

 

  • The applicant will need to meet the terms and conditions of the escrow agreement.
  • Each escrow agreement will have terms and conditions required for all applicants as well as unique terms and conditions specific to that application.
  • The escrow agreement will also set out the process for the refund or default of the $100,000 CAD deposit.

 

Step #7 Successfully meeting conditions of the escrow agreement and receiving deposit:

 

  • Upon meeting the conditions of the escrow agreement, the applicant will receive the $100,000 CAD deposit (without interest).
  • Please review the agreement and its terms and conditions to fully understand the requirements.

Please be advised that in no way does a Prince Edward Island nomination guarantee that the applicant will receive a permanent resident visa.  Do not make permanent arrangements to move to Prince Edward Island (example: leave your job, sell your property, etc.) until the application for a Permanent Resident Visa has been assessed and confirmed by CIC via the visa office/embassy.

CIC is responsible for ensuring all applications for permanent resident status meet the requirements of the Immigration and Refugee Protection Act and all statutory admissibility checks are completed. CIC has the final authority to approve or refuse an application for permanent residency.

Immigration Services makes no representation of processing times for permanent resident visas by CIC, for details visit http://www.cic.gc.ca/english/information/times/index.asp

Business Impact Category Application Forms

 

PEI PNP Application Forms

 

  1. Business Impact Checklist (B-1) – (form must be completed by the applicant)
  2. Business Impact Self-Assessment Form (B-2) – (form must be completed by the applicant)
  3. Business Impact Application Form (B-3) – (form must be completed by the applicant)
  4. Business Impact Information Release Form for Applicant (B-4) – (form must be completed by the applicant)
  5. Business Impact Information Release Form for Applicant’s Spouse (B-5)  – (form must be completed by the applicant’s spouse)
  6. Business Impact Information Release Form for Applicant and Spouse (B-6) – (form must be completed by the applicant and spouse)
  7. Business Impact Statutory Declaration Form (B-7) – (form must be completed by the applicant)
  8. Business Impact Language Deposit Agreement (B-8)
  9. Business Impact Declaration of Exploratory Visit Form (B-9)  – (form must be completed by the applicant)
  10. Business Impact Acknowledgement of IRPA Reg 87 for Applicant (B-10) – (form must be completed by the applicant)
  11. Business Impact Acknowledgement and Indemnity for Applicant (B-11) – (form must be completed by the applicant)
  12. Business Impact Settlement Form (B-12)
  13. Business Impact Performance Agreement – template (B-13)
  14. Business Impact Escrow Agreement – template (B-14)
  15. Business Impact Acknowledgement of IRPA Reg 87 for Business (B-15) – (form must be completed by the business)
  16. Business Impact Acknowledgement and Indemnity for Business (B-16) – (form must be completed by the business)

Overview and Guide

 

 

CIC Application Forms

 

  1. Generic Application Form for Canada (IMM 0008 Generic) – (form must be completed by the applicant and a photo of the applicant and each accompanying family member is required)
  2. Additional Dependants Declaration Form (IMM 0008DEP) – (form is only required to be completed by the applicant if the applicant has more than 5 dependants)
  3. Schedule A Background Declaration Form (IMM 5669) – form must be completed by the applicant, spouse and each dependent age 18 and over whether they are accompanying you to Canada or not)
  4. Schedule 4 Economic Classes – Provincial Nominees (IMM 0008 Schedule 4) (form must be completed and signed by the applicant )
  5. Schedule 4 A Economic Classes – Provincial Nominees – Business Nominees (IMM 0008 Schedule 4A) (form must be completed and signed by the applicant )
  6. Statutory Declaration of Common-Law Union Form (IMM 5409E) – (form must be  completed by the applicant)
  7. Additional Family Information Form (IMM – 5406) – (form must be completed by the applicant, spouse and each dependent age 18 and over whether they are accompanying you to Canada or not)
  8. Use of Representative Form (IMM 5476) – (form must be completed by the applicant and representative, if applicable

Business Impact Category Island Agents

Applicants may apply directly to the Business Impact Category or an applicant can use an Island agent.  Any applicant who is using a pay for fee representative must use an Island agent.  Failure to submit your file through an Island agent while using a pay for fee representative will result in an immediate decline for nomination.

The Island agent will be available to assist the applicant throughout the immigration process.  This assistance will begin with the application and will end when the applicant is settled as a resident of Prince Edward Island.  Throughout this timeframe, the applicant will be able to rely on their Island agent to make their integration into the Prince Edward Island business community more seamless.

The Island agent will also provide the applicant with business opportunities that currently are available in Prince Edward Island.  There are numerous opportunities available to applicants and the Island agent can assist in finding the opportunity that matches the applicant’s skill set.

Island agents that can represent an applicant to the PEI PNP must be;

• Approved by Immigration Services

• Located in Prince Edward Island, and

• Members in good standing of the Immigration Consultants of Canada Regulatory Council (ICCRC), or

• Lawyers that are members in good standing with the Prince Edward Island Law Society.

The following are approved Island Agents of the Prince Edward Island Provincial Nominee Program:

Bether Capital PEI Inc.

70 Kent Street, Suite 200

Charlottetown, Prince Edward Island

Canada   C1A 1M9

Telephone: (902) 566-2566

Facsimile: (902) 368-3558

E-mail: immigration@bcipei.com

Website: www.bcipei.com

Caninvestor Consulting and KC Immigration Services

75 Fitzroy Street, Suite 301B

Charlottetown, Prince Edward Island

Canada   C1A 1R6

Telephone: (902) 628-8577

Facsimile: (902) 628-1613

E-mail: immigration@caninvestorkc.com

Website: www.caninvestorkc.com

Can-nection Immigrant Business Investments Ltd. (CIBI)

155 Queen Street

Charlottetown, Prince Edward Island

Canada   C1A 8C4

Telephone: (902) 566-9996

Facsimile: (902) 566-9997

E-mail: admin@can-nection.com

Website: www.can-nection.com

Confederation Capital

Queen Square Centre

119 Queen Street, Suite 101

Charlottetown, Prince Edward Island

Canada   C1A 4B3

Telephone: (902) 367-3799

Facsimile: (902) 367-3798

E-mail: blake@confederationcapital.com

Website: www.confederationcapital.com

H.P. Consultants

119 Kent Street

Charlottetown, Prince Edward Island

Canada C1A 1N3

Telephone: (902) 569-2600

Facsimile: (902) 569-4138

E-mail: hpconsultants@pei.aibn.com

New Island Opportunities Inc.

85 A Fitzroy Street

Charlottetown, Prince Edward Island

Canada C1A 1R6

Telephone: (902) 894-5008

Facsimile: (902) 569-4557

E-mail: cgs@cicnova.ns.ca

Website: www.cicnova.com

Sunrise Immigration and Investment

137 Queen Street, Suite 303

PO Box 25026

Charlottetown, Prince Edward Island

Canada   C1A 9N4

Telephone: (902) 367-3177

Facsimile: (902) 442-1617

E-mail:  immigration@sunriseltd.ca

Website: www.sunrisegroup.ca

Business Impact Category Application Fee

The Business Impact Category application fee is $2,500 CAD per stream. Immigration Services will accept a bank draft, certified cheque or money order made payable to Island Investment Development Inc. (IIDI). Cash will not be accepted.  Please include the fee with the application.

If the file is declined prior to interview stage $2,000 CAD of the $2,500 CAD application fee will be returned to the applicant. Once an invitation to an interview letter and required exploratory visit is issued for an applicant the $2,500 CAD processing fee becomes non-refundable.

Business Impact Category Contact

Immigration Services

94 Euston Street, 2nd Floor

PO Box 1176

Charlottetown, Prince Edward Island

Canada   C1A 7M8

Telephone: 902 620 3628                     Facsimile: 902 368 5886

Email: peinominee@gov.pe.ca              Website: www.gov.pe.ca/immigration