Conditions to Participate
• Age: From 21-59 years old
• Assets: Minimum net worth of 600,000 CAD through legal and legitimate source of personal (not gift).
• Minimum qualifications: High School
• Your previous business and/or work experience (minimum 2 years)
• Minimum IELTS: 4.0 within the last 2 years.
• Provides detail business plan for 100% ownership of businesses
• Joins in the management and operation in PEI province
• Sign an escrow agreement containing stipulations on a deposit of $200,000 to be held by the Province until terms of the agreement have been met.
• Have a minimum active investment of $150,000 CAD of an existing business or the start of a new business in Prince Edward Island .
Conditions to refund of deposit
Minimum Investment of 200,000 CAD deposit for PEI provincial government will be refunded to based conditions and business plan:
• $25,000 CAD after 6 months of residency on PEI
• $25,000 CAD after 1 year of residency on PEI
• $150,000 CAD will be released upon the applicant meeting the requirements outlined in the escrow agreement.
PEI Processing Time Line (From 24 to 30 months)
Phase 1: From 1 to 2 months
– Collect docs
– BCI review package
– BCI agree to accept the file and issue quota, issue invoice of 15,000.
– Investor pays directly to BCI
– Submit the file to PEI
Phase 2: From 5 to 8 months
– PEI issued file (1 – 4 months)
– Approved by PEI (Interview invitation letter) or ENO (error and omission) (2 – 3 months)
– Book interview with PEI in canada & conduct 5 days visit before interview (within 6 months from invitation date)
– Visit + interview (if need translator, then fee is 1500 for official translator)
– Approved (letter of request to wire deposit)
– Wire 200.000 CAD deposit + 40.000 USD to BCI
– Show client receitp of deposit 200,000 CAD to PEI on behalf of client
– Nomination letter to Federal state
Phase 3: ~1,5 years
– Submit civil docs + Police Cert (by mail)
– To Singapore for visa issue