On Sep.21/18, the 100% Ownership, Partial Ownership, and Work Permit streams of the PEIPNP were consolidated into one Work Permit stream. Clients invited to apply before this date are grand-fathered under the previous program.
The program criteria (language ability, net worth, business ownership/management experience, etc.) and EOI selection process remain the same. That is, the Government will draw Work Permit clients from the EOI pool each month, and community endorsement points will remain intact.
Following an Invitation to Apply, file submission, and successful interview, the new nomination and Permanent Residence process will be as follows:
-There will be no escrow deposit.
-The PEI Government will issue a Work Permit “Letter of Support” to enable clients to obtain a 2-year work permit. Extensions will be allowed, at the discretion of the federal government.
-The client and family will move to PEI and report to the Government within 30 days of landing.
-Clients must operate a business in the community which endorsed them, and commence the business within 1 year of landing in PEI.
-The client and family members must reside in PEI (any community) for at least 274 days each calendar year.
-The spouse can receive an open work permit and work in PEI.
-Children can attend public school in PEI free of charge (kindergarten to grade 12). Post-graduate students will pay foreign student rates until permanent residence is received.
-Medical care will be free for the family after residing in PEI for 6 months.
-Clients will run a business in PEI for 1 year according to their Performance Agreement (invest minimum $150,000 in the business, incur minimum $75,000 in eligible operating expenses, etc).
-Once conditions of the Performance Agreement are met, clients will be nominated by the PEI Government (after which time they can file their federal Permanent Residence application).
-The family must remain in PEI, and continue to run the PEI business, until Permanent Residence is obtained.