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Business Impact Application Guide 100% Ownership | Partial Ownership | Work Permit OFFICE OF IMMIGRATION
Business Impact Application Guide 100% Ownership | Partial Ownership | Work Permit
OFFICE OF IMMIGRATION
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Contents Introduction ............................................................................................................................................ 1
Step 1: Assess your eligibility ................................................................................................................... 1
100% Ownership Stream ..................................................................................................................... 1
Partial Ownership Stream .................................................................................................................... 1
Work Permit Stream ............................................................................................................................ 2
Step 2: Prepare your Initial Application .................................................................................................... 2
Step 3: Submit Your Application .............................................................................................................. 3
Step 4: Attend Interview .......................................................................................................................... 3
Step 5: Submit Business Plan ................................................................................................................... 4
Step 6: Final Submission .......................................................................................................................... 4
100% Ownership and Partial Ownership Stream .................................................................................. 4
Work Permit Stream ............................................................................................................................ 5
Step 7: Submission to Federal Government ............................................................................................. 5
100% Ownership and Partial Ownership Stream .................................................................................. 5
Work Permit Stream ............................................................................................................................ 5
Step 8: Landing in Prince Edward Island ................................................................................................... 5
Step 9: Compliance with Your Agreement ................................................................................................ 5
100% and Partial Ownership Streams .................................................................................................. 5
Work Permit Stream ............................................................................................................................ 6
Appendix A: Required Supporting Documentation ................................................................................... 7
Appendix B: Definitions ........................................................................................................................... 9
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Introduction This guide is for foreign nationals who have are interested in owning all or part of a business and would
like to apply for a nomination for permanent residency through the Prince Edward Island Provincial
Nominee Program.
The Office of Immigration reviews applications based on the program criteria and selection factors. You
must meet the program criteria for the stream you are applying for. Meeting program criteria does not
guarantee a nomination. Priority will be given to applicants who have the greatest potential to become
economically established in Prince Edward Island.
The Prince Edward Island Provincial Nominee Program is a selection program whereby the Province is
able to nominate individuals to the Federal Government for permanent residency. If selected for
nomination, you must submit an application for permanent residency to Immigration, Refugees, and
Citizenship Canada (IRCC), and they hold the ultimate authority to issue a permanent residence visa.
The Office of Immigration does not post processing times. Applicants submitting applications in person
must note that reception staff is not authorized to provide application advice or review the
completeness of applications.
Step 1: Assess your eligibility There are three pathways to permanent residency through the Business Impact Category of the Prince
Edward Island Provincial Nominee Program: the 100% Ownership Stream; the Partial Ownership Stream;
and the Work Permit Stream. The criteria for each stream are different, but you must obtain at least 50
points on the Business Impact Self Assessment to qualify for any of these programs.
100% Ownership Stream To be eligible for nomination through the 100% Ownership Stream you must:
Score a minimum of 50 points on the Business Impact Self Assessment.
Have a minimum verifiable personal net worth of $600,000 which has been accumulated
through legal and legitimate sources in your own right.
Have a minimum education of high school equivalent.
Be within 21-59 years of age at the time of application.
Have transferable management skills and past employment or business ownership experience.
Meet minimum language requirements equivalent to a band score of 4.0 on an IELTS test.
Intend to live and work in PEI, and provide day-to-day active and ongoing management of your
company from PEI.
Attend an interview with staff from the Office of Immigration.
Sign an escrow agreement with the Province and submit a $200,000 deposit, which will be
refunded upon you meeting the terms and conditions of the escrow agreement.
Partial Ownership Stream To be eligible for nomination through the Partial Ownership Stream you must:
Score a minimum of 50 points on the Business Impact Self Assessment.
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Have a minimum verifiable personal net worth of $600,000 which has been accumulated
through legal and legitimate sources in your own right.
Have a minimum education of high school equivalent.
Be within 21-59 years of age at the time of application.
Have transferable management skills and past employment or business ownership experience.
Meet minimum language requirements equivalent to a band score of 4.0 on an IELTS test.
Intend to live and work in PEI, and provide day-to-day active and ongoing management of the
PEI-based company.
Attend an interview with staff from the Office of Immigration.
Sign an escrow agreement with the Province and submit a $200,000 deposit, which will be
refunded upon you meeting the terms and conditions of the escrow agreement.
Work Permit Stream To be eligible for nomination through the Work Permit Stream you must:
Score a minimum of 50 points on the Business Impact Self Assessment.
Have a minimum verifiable personal net worth of $600,000 which has been accumulated
through legal and legitimate sources in your own right.
Have a minimum education of high school equivalent.
Be within 21-59 years of age at the time of application.
Have transferable management skills and past employment or business ownership experience.
Meet minimum language requirements equivalent to a band score of 4.0 on an IELTS test.
Live and work in PEI, and provide day-to-day active and ongoing management of the PEI-based
company.
Attend an interview with staff from the Office of Immigration.
Sign a Performance Agreement and meet all of the terms and conditions of the Agreement.
Step 2: Prepare your Initial Application If you have scored at least 50 points on the Business Impact Self Assessment, and you meet all of the
eligibility criteria of at least one of the streams listed above, you must complete all relevant Provincial
and Federal forms, and gather the required supporting documentation, listed in Appendix A. This is a
list of the forms required at time of your initial submission. Additional forms and documentation are
required at other times during the application process.
Provincial Forms (originals must be submitted)
B-2 – Business Impact Self Assessment To be completed and signed by the Principal Applicant. If there is a difference between the score you assign yourself and the score assigned by the Office of Immigration, the assessment by the Office of Immigration will prevail. Points will only be awarded based on documentation provided.
B-3 – Business Impact Application To be completed and signed by the Principal Applicant.
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B-5 – Business Impact Consent to Validate Information
To be completed and signed by the Principal Applicant and spouse/ common-law partner, if applicable (1 form for each person).
B-6 – Business Impact Information Release To be completed and signed by the Principal Applicant and spouse/ common-law partner, if applicable (1 form for each person).
Federal Forms (copies must be submitted)
IMM 0008 – Generic Application Form for Canada To be completed and signed by Principal Applicant.
IMM 0008DEP – Additional Dependants/Declaration Form
To be completed if there are more than five dependents.
IMM 5669 – Schedule A Background/Declaration To be completed and signed by the Principal Applicant and spouse/common-law partner, if applicable (1 form for each person).
IMM 5406 – Additional Family Information To be completed and signed by the Principal Applicant, spouse/common-law partner, and any dependent children 18 years of age or older, if applicable (1 form for each person).
IMM 0008 – Schedule 4 Economic Classes – Provincial Nominees
To be completed and signed by the Principal Applicant.
IMM 5409 – Statutory Declaration of Common-law Union
To be completed and signed by the Principal Applicant and Common-law Partner, if applicable.
IMM 5476 – Use of a Representative To be completed and signed by any person who has given you advice or guidance, if applicable.
IMM 5562 – Supplementary Information You Travels
To be completed by the Principal Applicant.
Step 3: Submit Your Application The complete application along with all supporting documentation can be submitted either in person or
through courier or mail package. The application package must be accompanied by the $10,000
application fee. If your file is not accepted, the entire fee will be refunded. If your file is declined or
withdrawn prior to you being interviewed by our office, $7,500 will be refunded. If your file is declined
or withdrawn after you have interviewed with our office, the entire fee is non-refundable. Acceptable
forms of payment are bank draft, certified cheque, or money order, made payable to Island Investment
Development Inc.
Complete application packaged can be submitted to:
Office of Immigration 94 Euston Street, 2nd Floor PO Box 1176 Charlottetown, PE Canada C1A 7M8
Step 4: Attend Interview If your initial application is accepted, you will be invited to attend an interview with the staff of the
Office of Immigration. The location of the interview is at the sole discretion of the Province of Prince
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Edward Island. We encourage all applicants to visit PEI to gain knowledge about the Province and its
business environment.
The interview will include, among other things, discussion about your proposed business idea, as well as
a discussion about the Agreement you will be signing with the Province. At the end of the interview you
will be asked to sign 2 copies of the Agreement (either the Escrow Agreement if you are applying
through the 100% or Partial Ownership Stream, or the Performance Agreement, if you are applying
through the Work Permit Stream).
The following forms must be completed and brought to the interview:
B-7 – Business Impact Declaration To be signed by Principle Applicant and notarized.
B-9 – Business Impact Interview Declaration To be completed and signed at completion of interview.
B-10 – Business Impact Acknowledgement of IRPA Reg 87 for Applicant
To be completed and signed by Principal Applicant.
B-11 – Business Impact Acknowledgement and Indemnity for Applicant
To be signed by Principal Applicant and signed by a barrister or solicitor of the Supreme Court of PEI.
B-12 – Business Impact Settlement To be completed and signed by Principal Applicant.
B-17 – Business Impact Business Concept Approval To be completed and signed by Principal Applicant.
Step 5: Submit Business Plan If you are successful in your interview with the Office of Immigration, you will be asked to submit a
formal business plan outlining the details of your planned business venture in PEI. This business plan
must include, at a minimum, the following:
Company overview;
Products/services offered, industry analysis, and competitive landscape;
Marketing plan;
Management team and staffing;
Description of applicant’s role in the business;
Historical financial statements (if purchasing a business); and
Financial projections prepared by a qualified accountant (CA, CGA, CMA, or CPA) (if not
purchasing a business)
Step 6: Final Submission The requirements for the streams differ after the business plan has been accepted.
100% Ownership and Partial Ownership Stream You will be requested to submit your escrow deposit in the amount of $200,000, as well as a legal
opinion written by a Canadian lawyer stating that your application meets the IRCC Regulations and the
Immigration and Refugee Protection Act (IRPA 87). After those items are received by our office, you will
be issued a nomination certificate.
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Work Permit Stream You will be requested to submit a letter written by a legal opinion written by a Canadian lawyer stating
that your application meets the IRCC Regulations and IRPA 87. After this is received by our office, you
will be issued a letter of support for a work permit.
Step 7: Submission to Federal Government
100% Ownership and Partial Ownership Stream If you are selected for nomination by Prince Edward Island, you must then submit your application for
permanent residency to the Federal Government (as represented by Immigration, Refugees, and
Citizenship Canada), who maintains the ultimate decision on all immigration applications. Refer to IMM
5690 – Document Checklist Permanent Residence – Provincial Nominee Class and Quebec Skilled Worker
for a complete list of documents that must accompany your application. Note that incomplete
applications will be returned to you. The completed application is to be mailed to the Centralized Intake
Office (CIO) – Sydney.
Work Permit Stream After you receive your letter of support from the Province, you must file an application for a work
permit from IRCC. As you will be applying for non-LMIA backed work permit, you must first register on
the employer portal and pay an employer compliance fee. Full details of this process can be found on
IRCC’s website www.cic.gc.ca.
Step 8: Landing in Prince Edward Island If your application is approved by IRCC you must report to the Office of Immigration in person to 94
Euston Street, 2nd floor within 30 days of landing in Canada to remain in compliance with your
Agreement. To make a landing appointment you can contact our office by email at
Step 9: Compliance with Your Agreement At your initial landing meeting you will meet with your assigned Settlement Officer. This officer is able
to work with you to help you along the process of opening and operating your business. They will
contact you every six month for updates, but you can contact them as often as you need to ask
questions.
100% and Partial Ownership Streams There are two parts of your escrow deposit – a residency portion and a business portion.
The $50,000 residency portion can be refunded in two parts at two different times - $25,000 after you
reside in PEI for six months, and $25,000 after you reside in PEI for one year. You will receive written
notice from our office advising you what documents to submit and when you are able to submit them to
request your refund.
The $150,000 business portion can be refunded after you meet the terms and conditions of your escrow
agreement, including operating your business for a minimum of 12 consecutive months. A reminder
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letter will be sent to you one year after you start your business advising you what documents to submit
and when you are able to submit them to request your refund.
Work Permit Stream You will be issued a nomination after you meet the terms and conditions of your Performance
Agreement, including operating your business for a minimum of 12 consecutive months. You will be
sent a reminder letter advising you what documents to submit and when you are able to submit them.
When you receive your nomination certificate, you must then apply to IRCC for permanent residency
(see Step 7).
Appendix A: Required Supporting Documentation You must submit all forms listed in order in Step 2, and all supporting documentation in the order listed
below.
Tab 1 – Provincial Forms and Language
Submit provincial forms in order listed in Step 2
Proof of language ability: International English Language Testing System (IELTS) General test result taken within the last two years with a minimum band score of 4.0 OR Canadian English Language Proficiency Index Program (CELPIP) test result taken within the last two years with an average score of 4 OR Test d’évaluation de francais (TEF) test result taken within the last two years with an equivalent score of CLB 4 OR Documentation from an internationally recognized institution to confirm education received in English or French (our office reserves the right to request a language test if deemed necessary)
Tab 2 – Federal Forms
Submit federal forms in order listed in Step 2
Tab 3 – Identity Information
Birth certificate for Principal Applicant and spouse/common-law partner (if applicable) or other official identity document
Marriage certificate (if applicable)
Divorce certificate (if applicable)
Divorce agreement (if applicable)
Death certificate of former spouse (if applicable)
Tab 4 - Children’s Information (if applicable)
Birth Certificate
Official Adoption Papers (if applicable)
Proof of custody and proof that he/she may be removed from the jurisdiction of the court (if applicable)
Tab 5 - Travel Documents
Color photocopy of bio data page of passport for all people included in application
Status documents for country of residence, if different from country of citizenship
Correspondence and/or refusal letters for previous applications for immigration to Canada through Federal and/or Provincial programs
Tab 6 - *Omitted*
Tab 7 - Education
Diploma and transcript for highest level of education received, confirming satisfaction of program requirements for Principal Applicant and spouse/common-law partner (if applicable)
Tab 8 - Employment
Detailed resume for the Principal Applicant and spouse/common-law partner (if applicable) including:
Summary of company(s) worked for
Position(s) held and duties
Period of employment
Breakdown of annual employment income
Letters of reference from previous employers supporting work experience claimed for Principal Applicant and spouse/common-law partner (if applicable) for last five years
Organizational structure and business card from current employer
If self-employed also submit additional documentation:
Business license
Business tax records for most recent year
Financial statements for most recent year prepared by third party
Documents supporting ownership of company
Tab 9 - Net Worth
Narrative including timeline of personal income to support net worth for Principal Applicant and spouse/common-law partner (if applicable)
Most recent six months bank statements from all accounts for Principal Applicant and spouse/common-law partner (if applicable). Provide supporting documentation for any large transactions.
Fixed-term deposit certificates and most recent six months statements
Property documentation including:
Title deed
Tax payment receipt
Purchase agreement
Property appraisal performed within the past year. Appraisal cannot state it was performed for immigration purposes
Most recent six months statements for stocks and other investment including number of shares held, adjusted cost base, and current market value
Documentation supporting any outstanding liabilities, including personal loans and mortgages
Documentation supporting any other assets
Tab 10 – Business Concept
Summary of proposed business concept and how your experience ties into proposal
Appendix B: Definitions Canadian Language Benchmark: The Canadian standard used to describe, measure and recognize
English language ability of adult immigrants and prospective immigrants who plan to live and work in
Canada, or apply for citizenship. The Niveaux de compétence linguistique canadiens (NCLC) is used to
assess abilities in the French language. More information can be found at
http://www.cic.gc.ca/english/resources/tools/language/charts.asp.
Common-law partner: A partner of the same sex or opposite sex that you have been living with for at
least 12 consecutive months in a relationship like a marriage. This means living together for one year
without any long periods where you did not see each other. Either partner may have left home for work
or business travel, family obligations, and so on. However, that separation must have been temporary
and short.
Dependant: A spouse, common-law partner or dependent child of a permanent resident or principal
applicant.
Dependent child: A child who depends on their parent for financial and other support. A son or
daughter is considered a dependant of their parent when the child is: under 19 years old, and does not
have a spouse or partner, or 19 years old and over, and has depended largely on the parent’s financial
support since before the age of 19 because of a physical or mental condition.
Escrow Agreement: An agreement signed with the Province that outlines the conditions under which
the escrow deposit is being held, and the conditions under which it will be released. Terms used in the
Agreement are further defined in the Agreement.
Foreign National: a person who is not a naturalized citizen of the country in which they are living.
Immigration, Refugee and Citizenship Canada (IRCC): The name of the Canadian federal
department that facilitates the arrival of immigrants to Canada, provides protection to refugees, and
offers programming to help newcomers settle in Canada.
Landing: The final interview with an immigration officer at either a port of entry or a local IRCC office
within Canada, during which an applicant becomes a permanent resident. This happens when the
person signs the confirmation of permanent residence.
National Occupation Classification Code (NOC Code): A list of all the occupations in the Canadian
labor market. It describes each job according to skill type and skill level. The NOC is used to collect and
organize job statistics and to provide labour market information. It is also used as a basis for certain
immigration requirements. More information can be found at
http://www5.hrsdc.gc.ca/noc/english/noc/2011/SearchAlphabetical.aspx
Performance Agreement: An agreement signed with the Province that outlines the terms and
conditions which must be fulfilled to be nominated by the Province. Terms used in the Agreement are
further defined in the Agreement.
Principal Applicant: When a family applies together, one member must be the main or “principal”
applicant. For example, a mother applying for permanent residence with her three children would be
the principal applicant. When parents are included in an application, dependent children cannot be
principal applicants.
Spouse: A legal marriage partner. This term includes both opposite- and same-sex relationships but
does not include common-law partnerships.
Work permit: A document issued by IRCC that authorizes a person to work legally in Canada. It sets
out conditions for the worker such as: the type of work they can do, the employer they can work for,
where they can work, and how long they can work.
