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Business Impact Category


The Province of Prince Edward Island (PEI) is interested in building a better, brighter future for all; including both Islanders currently residing within the province and newcomers alike. Newcomers comprise a significant portion of both our current and proposed future growth. Our recently released Island Prosperity Strategy sets out the course of action that we plan to pursue to grow the economy of this great province. In the strategy it states “Our province’s destiny will be determined by the choices we make today. We simply must take advantage of our place in the world in a way that will propel us forward to a new position on the national and global stage.”

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. Together with a growing population and economy, we are confident that a choice to invest in and operate a business in Prince Edward Island will serve not only the interests of the business person themselves but the entire province at large.

There are three streams from which an applicant can choose:

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, 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. 

The applicant must meet the program criteria, minimum net worth and investment thresholds and will be required to make a conditionally refundable deposit of $200,000 Canadian dollars (CAD) to be held in escrow. Of the $200,000 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 $150,000 CAD will be released upon the applicant meeting the requirements outlined in the escrow agreement.

100% Ownership Criteria 100% Ownership Process 

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, 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 $200,000 CAD to be held in escrow. Upon applying, meeting the criteria of the program, signing the necessary agreements and making the $200,000 CAD refundable escrow deposit, the applicant will be granted nomination. Of the $200,000 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 $150,000 CAD will be released upon the applicant meeting the requirements outlined in the escrow agreement.

Partial Ownership Criteria Partial Ownership Process

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, 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 for permanent residency to Canada. 

Work Permit Criteria Work Permit Process

Prioritization


Due to limitations on immigration levels nationally and the effects on the Provincial Nominee Programs, the province of Prince Edward Island reserves the right to prioritize nominations to the three streams of the Business Impact Category based on the strengths and merits of the application and the economic value to Prince Edward Island.

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