Good Faith Deposit Agreement Form PDF Details

Embarking on a new life in Prince Edward Island, Canada, represents a significant step for many individuals and families seeking a fresh start or new opportunities. Among the numerous considerations for those aiming to establish residence through investment or entrepreneurship, the Good Faith Deposit Agreement serves as a critical component of the immigration process. This document, issued by Island Investment Development Inc., outlines the terms under which an individual pledges a $25,000 deposit to the Province of Prince Edward Island. The deposit is refundable, provided that certain conditions are met, demonstrating the individual's commitment to living and participating in the local economy. For immigrant partners, these conditions include engaging actively in the invested company and residing in the province with their families for at least one year post-receiving permanent resident status. Similarly, immigrant entrepreneurs are asked to prove that their business is operational and that they, along with their families, have made Prince Edward Island their home for a minimum of one year after achieving permanent residency. The agreement sets out specific evidence required to satisfy these conditions, from declarations by company directors to various proofs of residence. Completing this agreement and meeting its conditions not only secures the return of the deposit but also symbolizes a successful transition to a new community and economy.

QuestionAnswer
Form NameGood Faith Deposit Agreement Form
Form Length2 pages
Fillable?No
Fillable fields0
Avg. time to fill out30 sec
Other namesgood faith agreement form, good faith deposit agreement, good faith agreements to occupy, good faith agreement

Form Preview Example

I sland I nv est m ent Dev elopm ent I nc.

Telephone: 90 2 620 3628

94 Eust on St r eet , 2 n d Floor

Facsim ile: 902 368 5886

PO Box 1176

 

Char lot t et ow n, Pr ince Edw ar d I sland

Em ail: p e in o m in e e @g o v . p e . ca

Canada C1A 7M8

Websit e: w w w . g o v . p e . ca / im m i g r a t i o n

Good Fa it h D e p osit Ag r e e m e n t For m

I _______________________________________ , bor n on ( d/ m / y ) __________________________ ,

declar e t hat m y fam ily m em ber s and I int end t o live in t he Pr ov ince of Pr ince Edw ar d I sland if I am successful in at t aining Canadian per m anent r esident st at us.

I n suppor t of t his under t ak ing, I hav e pledged a Good Fait h Deposit of $ 25, 000 t o be held by t he Pr ov ince of Pr ince Edw ar d I sland for a per iod of one y ear aft er I am gr ant ed per m anent r esident st at us by t he

Gov er nm ent of Canada. The deposit is fully r efundable ( w it hout int er est ) , pr ov ided t hat I am able t o pr ov ide ev idence sat isfact or y t o t he Pr ov ince of Pr ince Edw ar d I sland t hat t he condit ions pr ecedent for r efund hav e been m et .

Condit ions Pr ecedent t o Refund of t he Good Fait h Deposit Pledged by an I m m igr ant Par t ner

1 .

That t he I m m igr ant Par t ner is act iv e in t he inv est ee com pany as a Dir ect or or as a Senior Manager at

 

t he “ O” lev el of t he Nat ional Occupat ional Code; and

2 .

That t he I m m igr ant Par t ner and his/ her fam ily hav e r esided and m aint ained a r esidence in Pr ince

 

Edw ar d I sland for a m inim um per iod of one ( 1) y ear aft er r eceiv ing per m anent r esident st at us.

Ev idence t hat t he condit ion pr ecedent cit ed under ( 1 . ) has been m et w ill be a declar at ion t o t his effect

ex ecut ed by t he Chair of t he Boar d of Dir ect or s signing t oget her w it h t he Chief Ex ecut iv e Officer on behalf of t he inv est ee com pany , and t he I m m igr ant Par t ner .

Ev idence t hat t he condit ion pr ecedent under ( 2 . ) has been m et m ay include, but is not necessar ily lim it ed t o, a v isit t o est ablish t he dw elling is ow ned/ leased and occupied by t he im m igr ant fam ily ; local em ploym ent ;

r ent al r eceipt s; pr oper t y t ax r ecor ds; ut ilit y bills; r egist r at ion of any childr en at a local school or day care facilit y ; com m unit y or ot her t hir d par t y cor r obor at ion, per sonal Canadian incom e t ax r et ur n and not ice of assessm ent .

Condit ions Pr ecedent t o t he Refund of t he Good Fait h Deposit Pledged by an I m m igr ant Ent r epr eneur

1 . That t he business est ablished by t he I m m igr ant Ent repr eneur is fully oper at ional selling goods and/ or ser v ices at ar m ’s lengt h t o unr elat ed t hir d par t ies; and

2 . That t he I m m igr ant Ent repr eneur and his/ her fam ily hav e r esided and m aint ained a r esidence in

Pr ince Edw ar d I sland for a m inim um per iod of one ( 1) y ear aft er r eceiv ing per m anent r esident st at us.

Ev idence t hat t he condit ion pr ecedent cit ed under ( 1 . ) has been m et m ay include, but is not necessar ily lim it ed t o a pr e- ar r anged v isit t o t he business pr em ises; an ex am inat ion of t he book s and r ecor ds of t he

ent er pr ise; ex am inat ion of financial st at em ent s independent ly audit ed/ r ev iew ed by a Char t er ed Account ant or a Cer t ified Gener al Account ant ; ex am inat ion of t ax r et ur ns t o t he Canada Cust om s & Rev enue Agency or t he Pr ov incial Tr easur y ; or ot her independent cor r obor at ion .

Sept em ber 2 0 0 7

Page 1 of 2

For m : Good Fait h Deposit Agr eem en t ( PEI - PNP- 0 3)

Ev idence t hat t he condit ion pr ecedent under ( 2 . ) has been m et m ay include, but is not necessar ily lim it ed t o, a v isit t o est ablish t he dw elling is ow ned/ leased and occupied by t he im m igr ant fam ily ; local em ploym ent ;

r ent al r eceipt s; pr oper t y t ax r ecor ds; ut ilit y bills; r egist r at ion of any childr en at a local school or day care facilit y ; com m unit y or ot her t hir d par t y cor r obor at ion .

One y ear aft er obt aining per m anent r esident st at us, t he Pr ov incial Nom inee m ust giv e w rit t en not ice t o t he Pr ov ince of Pr ince Edw ar d I sland t hat t he condit ions pr ecedent t o r efund hav e been m et .

The Pr ov ince w ill indicat e, in w rit ing, t he docum ent at ion t o be pr ov ided by t he Pr ov incial Nom inee t o est ablish t hat t he condit ions t o r efund hav e been m et and w ill det er m ine w hat ot her ev idence, if any is r equir ed t o

r efund t he Good Fait h Deposit w it hout int er est .

Pr int ed Nam e of Applicant :

Signat ur e of Applicant :

Pr int ed Nam e of Wit ness:

Signat ur e of Wit ness:

Signed at : ( Cit y / Tow n and Count r y )

Dat e: ( D/ M/ Y)

Pe r son a l in f or m a t ion on t h is f or m is colle ct e d u n de r t h e Pr in ce Edw a r d I sla n d N om in e e Pr ogr a m a n d w ill be u se d f or

im m ig r a t ion a n d p r ogr a m e v a lu a t ion p u r p ose s. I f y ou h a v e a n y q u e st ion s a b ou t t h is colle ct ion of p e r son a l

in f or m a t ion , y ou m a y con t a ct I sla n d I n v e st m e n t D e v e lopm e n t I n c. a t 9 4 Eu st on St r e e t , 2 n d Floor , Ch a r lot t e t ow n , Pr in ce Ed w a r d I sla n d , C1 A 7 M 8 Te l: ( 9 0 2 ) 6 2 0 - 3 6 2 8 Fa x : ( 9 0 2 ) 3 6 8 - 5 8 8 6 Em a il: p e in om in e e @g ov . p e . ca

Sept em ber 2 0 0 7

Page 2 of 2

For m : Good Fait h Deposit Agr eem en t ( PEI - PNP- 0 3)

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