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Everyone loves the speed at which this program can be completed for your Canadian PR as an entrepreneur/investor, but you may not love the weather down there.
We’re covering our 2 favorite and fastest entrepreneur programs in Canada, the Manitoba Provincial Entrepreneur Program and the Prince Edward Island Entrepreneur program.
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1: All the immigration Entrepreneur programs in Canada, which are administered by each province under the Federal immigration act and subsequent regulations, start with a work permit. You are expected to run a business inside Canada (whether existing one you have purchased or from scratch) for a specific duration before the province issues a nomination certificate for your permanent residency – after which you apply to the Federal government to process your PRs. There are two key timeline factors which impact the processing time from the date you start the application process to the date you receive your PR:
A: The minimum duration of time you need to be actively managing the business inside Canada on your closed work permit before the province considers issuing you the nomination certificate.
B: The amount of time the provincial office (PNP) will take to issue you the nomination certificate after the minimum duration of your active business operations has been fulfilled.
Due to these two factors, we like:
2: Now why are they our favorites? Because they’re the fastest provincial entrepreneur programs. For that same reason we will be visiting both provinces this summer helping clients complete exploratory trips and supporting their applications. We will be visiting both Winnipeg and Charlottetown, which are the capital cities of each respective province.
3: Here is a Bonus reason why we love these two programs.
Their points-based systems are very discretionary in terms of being selected to apply. They’re not necessarily looking for the highest point applicants, but rather eligible applicants who a) can bring something to the province in terms of economic benefit. b) have ties to the province or are serious in settling with their families there.
You can’t say that about Ontario, BC or any of the other provinces which always look at the minimum points of the entrepreneurs in their provincial pool before issuing the invitation to apply, only other exceptions are New Brunswick and Newfoundland who are also practicing similar methods of issuing invitations to their applicants. If you can’t claim high points for your profile due to your education, language or other factors, don’t worry, there is a potential solution with these provinces to still be invited to apply as an entrepreneur and become eligible for PR nomination after the specified timelines for each program.
You may be wondering why I didn’t include Saskatchewan entrepreneur program on our list, since it also allows you to run the business for 6 months before being nominated. Although it’s a great province and very aggressive on immigration, the points system is not as discretionary as Manitoba and PEI, in addition to the fact that the investment amount is higher, and the weather is even colder than Manitoba and PEI.
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Let’s do a side-by-side comparison of our favorite 2 province’s investor programs (Manitoba v. PEI) and check all their eligibility criteria and timelines & costs involved:
|
Eligibility Criteria & Costs |
Manitoba |
Prince Edward Island (PEI) |
|
Minimum Language ability |
IELTS Reading 4, Writing 5, Listening 5, Speaking 5 (or equivalent scores in CELPIP, Pearson Language Test, or French equivalent exam scores) |
IELTS Reading 3.5, Writing 4, Listening 4.5, Speaking 4 (or equivalent scores in CELPIP, Pearson Language Test, or French equivalent exam scores) |
|
Minimum Education Requirements |
High school diploma |
High school diploma |
|
Age Restrictions |
No age restrictions |
Max age of 59 (min age of 21) |
|
Minimum business or management experience |
3 years during the past 5 years before the application date |
3 years during the past 5 years before the application date |
|
Minimum investment amount |
$250,000.00 inside the Winnipeg metropolitan area or $150,000.00 outside the Winnipeg region (in the rural regions and smaller towns) |
$150,000 anywhere in the province |
|
Minimum net worth requirement |
$500,000 no matter which region of the province you invest in |
$600,000.00 no matter which region of the province you invest in |
|
Net Worth Audit Mandatory? |
Yes. |
Yes. |
|
Can you buy an existing business or start a new one? |
Yes. Both options available. |
Yes. Both options available. |
|
Bonus point criteria |
Your spouse or partner’s language ability / work experience in the province or your children/spouse’s studies in the province / Family ties to the province |
Community endorsement letter / Your spouse or partner’s language ability / work experience in the province or your children/spouse’s studies in the province / Family ties to the province |
|
Exploratory trip Requirements |
Yes. You can do a 5 day trip or a 10 business day exploratory trip |
Not mandatory but highly advisable if you don’t have contacts/ties to the province. |
|
Interview Requirements |
Yes. The interview can be both online and in-person |
In-person interview is mandatory |
|
Requirements to be nominated for PR? |
Run the business for the minimum duration and completed all terms of the business performance agreement. |
Run the business for the minimum duration and provide prepared financial statements noting a minimum of $75,000 in eligible operating expenses and completed all terms of the business performance agreement. |
|
How long before nomination eligibility? |
6 months after you have the closed work permit, you can submit your final report before nomination |
12 months after you have the closed work permit, you can submit your final report before nomination |
|
Minimum physical presence inside the province? |
292 days in one year or 80% during the 6-month period before nomination eligibility |
274 days in one year |
|
Provincial Application Processing Fees |
$2,500.00 after you receive the invitation to apply (not before) |
$10,000.00 after you receive the invitation to apply (not before) and $7,500.00 refundable if you were refused before the interview. |
If you believe you can meet these minimum eligibility criteria and want to obtain a permanent residency for you and your family, then these programs are for you. If you can’t handle the harsh winters, that’s fine too, the other programs in BC or other provinces may take longer to PR, but at least they are also good alternatives. Whether you can’t obtain your language score at the beginning stages, don’t have the minimum net worth requirements, or other factors - there is a program out there for everyone in different parts of the country. The most important factor is to select the right program which increases your chances of success for Canadian PR based on your profile details!
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