Prince Edward Island
Provincial Nominee Program
There are three stream from which an applicant can choose:
- 100% Ownership Stream
- Partial Ownership Stream
- Work Permit Stream
- 100% Ownership Stream
Businesspersons are integral to the advancement of the Prince Edward Island economy. Prince Edward Island recognizes that this is still the fact and welcomes any capable individuals with entrepreneurial spirit to come to our province and help the progress continue. For foreign nationals, one avenue for entry into the Province to showcase entrepreneurial ability is through the 100% Ownership Stream.
The applicant must follow the step by step application process. If approved by the Office of Immigration, Settlement and Population, the applicant will receive nomination from Prince Edward Island and will need to sign an escrow agreement. The escrow agreement requires the applicant to obtain 100% control of a business through the outright purchase of an existing business or the start of a new business in Prince Edward Island.
Useful links
Am I eligible to apply?
To be eligible for nomination through the 100% Ownership stream you must:
- Score a minimum of 50 points on the self-assessment.
- Have a minimum verifiable personal net worth of $600,000 which has been accumulated through legal and legitimate sources in your own right.
- Have a minimum education of high school equivalent.
- Be within 21-59 years of age at the time of application.
- Have transferable management skills and past employment or business-ownership experience.
- Meet minimum language requirements equivalent to a band score of 4.0 on an IELTS test (link is external).
- Intend to live and work in PEI and provide day-to-day active and ongoing management of your company from PEI.
- Attend an interview with staff from the Office of Immigration.
- Sign an escrow agreement with the Province and submit a $200,000 deposit, which will be refunded upon you meeting the terms and conditions of the escrow agreement.
Do I have to pay a fee?
Yes, the application fee is $10,000. If your file is not accepted, the entire fee will be refunded. If your file is declined or withdrawn prior to you being interviewed by our office, $7,500 will be refunded. If your file is declined or withdrawn after you have interviewed with our office, the entire fee is non-refundable. The acceptable forms of payment are a bank draft, a certified cheque, or a money order made payable to Island Investment Development, Inc.
- Partial Ownership Stream
The Partial Ownership Stream is designed for applicants who wish to transition into the Prince Edward Island business community by becoming a part owner in a business.The applicant must follow the step by step application process. If approved by the Office of Immigration, Settlement and Population, the applicant will receive a nomination from Prince Edward Island and will sign the necessary agreements. The applicant, amongst other conditions, must obtain 33 1/3% of the business’ equity or invest $1,000,000 CAD in the equity of the business.The applicant must meet the program criteria, minimum net worth and investment thresholds and will be required to make a conditionally refundable deposit of $150,000 CAD to be held in escrow. Upon applying, meeting the criteria of the program, signing the necessary agreements and making the $150,000 CAD refundable escrow deposit, the applicant will be granted nomination. Of the $150,000 CAD deposit $25,000 CAD will be refunded after 6 months of residency on Prince Edward Island another $25,000 CAD will be refunded after 1 year of residency on Prince Edward Island and the remaining $100,000 CAD will be released upon the applicant meeting the requirements outlined in the escrow agreement. - Work Permit Stream
Applicants may wish to transition in a more timely fashion to start a new life and business utilizing a work permit to enter Canada and begin the journey. The Work Permit Stream will allow applicants to come to Prince Edward Island and begin working and learning about the business they will be investing in prior to nomination by the Province of Prince Edward Island.
The applicant must follow the step by step application process. If conditionally approved by the Office of Immigration, Settlement and Population, the applicant will apply to CIC for a temporary work permit to come to Prince Edward Island to start the process to invest in and operate the business in Prince Edward Island. At the time of work permit issuance, the applicant will sign the necessary agreements outlining what is required of them. Upon meeting the terms and conditions of a performance agreement, the applicant will be nominated by the Office of Immigration, Settlement and Population for permanent residency to Canada.