The Business Impact Program of Prince Edward Island immigration offers an excellent opportunity for aspiring individuals to become an entrepreneur and lead a happy life in Canada.
The Prince Edward Island immigration aka Prince Edward Island, a small province in Canada, has staged a decision to select the candidates through Expression of Interest starting the year 2018 for the Business Impact Program. The selection of the candidates, who submits the Expression of Interest, will be based on various factors on a 200 point program including adaptability (35 points), language (40 points), education (20 points), age (20 points) and experience in doing the business (50 points).
The candidates can also score additional 35 points by securing a community endorsement. For the community endorsement, the candidates need to visit the respective community and get an endorsement letter from the community where they intend to do the business in Canada.
Prince Edward Island immigration selects the candidates considering the score, and the requirements of the local industry, local business opportunities, and diversity. The selected profiles are valid for a period of six months with an option for renewal for another six months. The candidates in the pool can also update their profiles during this period to increase the score.
The Business Impact Program is offered in three streams namely Work Permit, Partial Ownership and 100% Ownership. The eligibility conditions for the three streams are enumerated below:
Eligibility Criteria for 100% ownership and Partial Ownership
- The persons should have verifiable and legal net worth of Canadian $600,000
- Should have scored at least 4 on an IELTS test
- Business ownership experience, past employment and transferable management skills
- Should at least hold a certificate equivalent to the high school certificate in Canada
- Should be interested to work and live in Prince Edward Island and provide daily updates of the management of the firm
- The applicants must be aged at least 21 years and not more than 59 years
- Should be able to submit a deposit of $200,000 and a signed escrow accord
- Should attend an interview with the officials of Immigration
Eligibility Criteria for Work Permit
- The persons should have verifiable and legal net worth of Canadian $600,000
- Should have scored at least 4 on an IELTS test
- Business ownership experience, past employment and transferable management skills
- Should at least hold a certificate equivalent to the high school certificate in Canada
- Should be interested to work and live in Prince Edward Island and provide daily updates of the management of the firm
- The applicants must be aged at least 21 years and not more than 59 years
- Should attend an interview with the officials of Immigration
- Should execute a performance agreement