[Canada] New Policy for Prince Edward Island (PEI PNP)
According to the new policy from the P.E.I. government, they are no longer accept the applications from immigrants looking to set up a business in exchange for immediate permanent residency.
Starting from September 20, 2018, the Business Impact Category of the Provincial Nominee Program has changed. The 100% and Partial Ownership Streams of the Business Impact Category will be eliminated. However, it will move to a Work Permit stream as the applicants would come to P.E.I. and run their business for a year before being nominated. Also, they will receive a permanent residency after their business is established successfully. Furthermore, all candidates will continue to be invited through the Expression of Interest system and the draw schedule will remain unchanged.
Applicants who applied in September 20, 2018 will also be grandfathered under the current program. The September 20, 2018 draw will be the last draw for the 100% and Partial Ownership Streams of the Business Impact Category, but future monthly draws will occur for the Work Permit stream.
Source: PEI Government