Canada Investor Program: Prince Edward Island Business Visa Put on Hold
The government of Canada offers permanent residency to foreign nationals through the Business Visa Program. The Canada Business Visa Program is divided into two main categories- investors and entrepreneurs.
In the entrepreneur category of Canada's Business Visa Program each province has set their requirements. Even though they are all part of Canada's Business Visa Program, each province can vary greatly.
Prince Edward Island had been a popular spot for the investor category of Canada's Business Visa Program. The investor part of the Business Visa Program was suspended in 2008 due to allegations of conflict of interest and concerns about the companies that were approved. The entrepreneur category of Canada's Business Visa Program has not been as popular; only 43 immigrants have landed in Prince Edward Island. The provincial government of Prince Edward Island also suspended the entrepreneur category of Canada's Business Visa Program in October 2010. The province of Prince Edward Island said that they were suspending the provincial Business Visa Program ahead of coming changes to the program.
The Canada Business Visa Program in Prince Edward Island required entrepreneurs to invest a minimum of $200,000 CAD to start their own business or buy at least a third of an existing business. Any potential candidates for the Canada Business Visa Program in Prince Edward Island also needed to have a minimum net worth of $400,000 CAD. Along with these requirements a $25,000 CAD good faith deposit and a business plan were required. The Canada Business Visa Program in Prince Edward Island didn't require proficiency in English nor French, but candidates who were unable to be interviewed because of a lack of language skills were required to deposit $20,000 CAD in an escrow with the government of Prince Edward Island.
Entrepreneur candidates for the Canada Business Visa Program in Prince Edward Island are now waiting to see what changes the government of Prince Edward implements and when they plan on continuing their Business Visa Program.
In the entrepreneur category of Canada's Business Visa Program each province has set their requirements. Even though they are all part of Canada's Business Visa Program, each province can vary greatly.
Prince Edward Island had been a popular spot for the investor category of Canada's Business Visa Program. The investor part of the Business Visa Program was suspended in 2008 due to allegations of conflict of interest and concerns about the companies that were approved. The entrepreneur category of Canada's Business Visa Program has not been as popular; only 43 immigrants have landed in Prince Edward Island. The provincial government of Prince Edward Island also suspended the entrepreneur category of Canada's Business Visa Program in October 2010. The province of Prince Edward Island said that they were suspending the provincial Business Visa Program ahead of coming changes to the program.
The Canada Business Visa Program in Prince Edward Island required entrepreneurs to invest a minimum of $200,000 CAD to start their own business or buy at least a third of an existing business. Any potential candidates for the Canada Business Visa Program in Prince Edward Island also needed to have a minimum net worth of $400,000 CAD. Along with these requirements a $25,000 CAD good faith deposit and a business plan were required. The Canada Business Visa Program in Prince Edward Island didn't require proficiency in English nor French, but candidates who were unable to be interviewed because of a lack of language skills were required to deposit $20,000 CAD in an escrow with the government of Prince Edward Island.
Entrepreneur candidates for the Canada Business Visa Program in Prince Edward Island are now waiting to see what changes the government of Prince Edward implements and when they plan on continuing their Business Visa Program.