PEI Investment Program
The following program is designed for investors and entrepreneurs, who are thinking of opening a new business or buying one that is already operating in the province of Prince Edward Island. The applicant may be entitled to apply under this category if they satisfy the following criteria:
- Having personal liquid assets in the amount of no less than $600,000 CAD, including business, real estate and savings in the bank;
- Depositing $200,000 CAD, which will be returned after 1 year of residing in the province and fulfilling the conditions of business organization;
- Traveling on an exploratory trip to the province, which has to last a minimum of 5 working days;
- Passing IELTS English test and getting a minimum score of 4.0;
- Meeting a number of requirements concerning age, education and work experience.
Generally speaking, if the applicant owns a business or is a business co-founder for at least three years during the last five years, the requirement of demonstrating one’s management experience is satisfied. The process of undertaking this program is not overly cumbersome and consists of several stages:
- After checking the client`s documents, the file is opened.
- After approximately 5-6 months the spouses receive an invitation to apply for entry visa for the exploratory trip to Prince Edward Island and to pass the interview.
During the interview the applicants are accompanied by an interpreter in order to prevent any misunderstandings. Original documents are required at the time of the interview.
The exploratory trip lasts for 5 days and includes the following aspects:
- Familiarization with the existing businesses with a view to buying one in the future.
- Writing a business plan, that is required for the interview, with the help of the professional accountant or a business analyst.
- Visiting the Immigration Authorities and passing the interview with the immigration officer.
- Signing of the “Deposit agreement”.
- After passing the interview and reviewing the business plan, the Ministry issues their provincial certificate of nomination. Within 30 days after its issuance, the investment of $200 000 must be transferred.
- The documents are filed at the Canadian Embassy and after completing background and medical checks, the whole family should receive their entry visas for permanent resident status.
Currently, this is the fastest and the most reliable option of immigration to Canada for business people.
You can obtain further information during a consultation with Inna Kogan.