Prince Edward Island Provincial Nominee Program:


The Business Impact Category provides the opportunity for foreign nationals to be nominated by Prince Edward Island to become permanent residents of Canada providing they invest in and actively manage a business in Prince Edward Island. The Business Impact Category is looking for interested businesspersons who can demonstrate vision, leadership and determination.

 

PEI 100% Ownership Stream Criteria

 

The 100% Ownership Stream is designed for individuals who have a strong entrepreneurial spirit, a great work ethic and solid business acumen. In the application and business proposal, the applicant must demonstrate these skills and the capability of owning and operating a business in Prince Edward Island. The stream will require any approved applicant to obtain 100% control of a business through the start of a new business, or an outright purchase of an existing business. The applicant must provide active and ongoing management to the business from within Prince Edward Island.

To receive approval under this stream, the applicant must demonstrate the capabilities and meet the selection criteria. Upon receiving approval from Immigration Services, the applicant will sign the necessary agreements, including an escrow agreement, and provide Prince Edward Island with a $100,000 CAD deposit. One of the key conditions is the control of 100% of the equity of a business in accordance with the investment requirements of the program. Once the terms and conditions of the escrow agreement have been met, the $100,000 CAD deposit will be refunded.

PEI Partial Ownership Stream Criteria

  • Meet the age, education, work experience, adaptability and language skills necessary to establish and operate a business in Prince Edward Island.
  • Provide a business proposal at time of application and a business plan after the exploratory visit for purchasing partial ownership of a business in Prince Edward Island.
  • Provide a settlement proposal outlining the intention to move and settle in Prince Edward Island.
  • Provide evidence of personal net worth of at least $400,000 CAD obtained from legal sources.
  • Have a minimum of $100,000 CAD unencumbered personal funds to make the required escrow deposit.
  • Have sufficient unencumbered personal funds to make the required investment, operate the business for a minimum of one year, and settle in Prince Edward Island.
  • Sign an escrow agreement with the Province of Prince Edward Island and make a $100,000 CAD deposit, which is held in escrow, to be returned without interest once the terms and conditions of the agreement have been met.
  • Make a minimum investment of $150,000 CAD.
  • Control not less than 33 1/3% of the equity in the business or make an equity investment in the business of at least $1,000,000 CAD.
  • Provide active and on-going management of the business from within Prince Edward Island.