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Work Permit Stream Criteria


The Business Impact Category of the PEI PNP is looking for interested business persons who can demonstrate vision, leadership and determination to contribute to the Prince Edward Island economy.  A healthy business environment and strong economy together with a diverse and skilled labour market makes Prince Edward Island an ideal location to invest in and operate a business.  The Work Permit Stream of the PEI PNP considers applications from experienced business managers and entrepreneurs.  Prior to being nominated by the province for permanent residency, applicants must plan to obtain their work permit and become a sole or partial owner of a business by investing in and actively managing an eligible business in Prince Edward Island.  Furthermore, specific criteria must be satisfied to be nominated under the program.

Under the Work Permit Stream, the applicant must:


  • Complete and submit all required Federal and Provincial PNP forms and supporting documentation.
  • Apply to CIC for approval of a work permit for the Prince Edward Island business that the applicant intends to invest in and manage.
  • Possess a minimum verifiable personal net worth of $600,000 which has been accumulated through legal and legitimate sources in their own right.
  • Possess a minimum education of high-school equivalent.
  • Have transferable management skills and past employment.
  • Have scored a minimum band score of 4.0 on the IELTS within the last 2 years.
  • Provide a detailed business plan that falls within an eligible sector and meets all program criteria in place at the time of application.
  • Provide active and on-going management of the business from within Prince Edward Island.
  • Sign a Performance Agreement containing stipulations on the business investment that must be satisfied to proceed with nomination.
  • Make a minimum of $150,000 investment into a new or existing Prince Edward Island owned and operated business. The transaction must be in compliance with the Immigration and Refugee Protection Act.

If an applicant meets all program criteria in place at application time and is approved, a letter of support for a Work Permit will be issued.  When the Performance Agreement is satisfied a nomination certificate will be issued.


Work Permit


Under the work permit option, business applicants have the greatest potential to not only enhance the value of the business they are investing in, but also to integrate into Prince Edward Island society.

Once an application and all supporting documentation has been submitted and approved by Immigration Services, the applicant is deemed eligible for the Work Permit Stream. The applicant will be presented with a letter of support from Immigration Services to apply to CIC for a work permit to Canada.

The applicant will be required to sign a performance agreement with the Office of Immigration.  The performance agreement will outline the terms and conditions with which the applicant will be required to execute on the business plan, prior to the Office of Immigration nominating the applicant for permanent residency to Prince Edward Island, Canada.

Performance Agreement


The performance agreement outlines the terms and conditions that must be met prior to receiving nomination for permanent residency under the Work Permit Stream. The applicant must execute the performance agreement as agreed upon with the Office of Immigration.  The performance agreement includes, but is not limited to; timelines of investment, amount of investment, reporting and monitoring guidelines, and pre & post nomination requirements.  Upon meeting the terms and conditions of the performance agreement, as determined by the Office of Immigration, the applicant will receive a nomination for permanent residency to Prince Edward Island, Canada.

Investment Agreement


Should the applicant choose to purchase not less than 33 1/3% of the equity of an eligible Prince Edward Island business, the applicant is required to submit an investment agreement to the Office of Immigration.  The investment agreement outlines the details of the proposed investment between the applicant and the Prince Edward Island business and must include as a minimum the following information:

  • Confirmation that the Business is not operated primarily for the purpose of deriving investment income such as interest, dividends and/or capital gains;
  • The proposed amount of the Investment in the Business;
  • The number, class and conditions of the shares being purchased (if applicable);
  • Confirmation that the investment does not include a redemption option;
  • Confirmation that the Investment is not less than 33 1/3% of the equity in a Prince Edward Island business or make an equity investment in the business of at least $1,000,000;
  • Confirmation that the Applicant provides or will provide active and ongoing management of the business from within Prince Edward Island; and
  • Time frames for the Investment.


Purchase and Sale Agreement


Should the applicant choose to purchase a 100% of an eligible Prince Edward Island business, the applicant is required to submit a purchase and sale agreement to the Office of Immigration. The purchase and sale agreement outlines the details of the proposed investment between the applicant and the Prince Edward Island business and must include as a minimum the following information:

  • Confirmation that the Business being acquired is not operated primarily for the purpose of deriving investment income such as interest, dividends and/or capital gains;
  • Purchase price for the Business;
  • The number, class and conditions of the shares being purchased (if applicable);
  • Confirmation that the investment does not include  a redemption option;
  • Confirmation that the applicant provides , or will provide, active and ongoing management of the business from within Prince Edward Island;
  • Timelines for the purchase of the Business;
  • Confirmation the purchase price is for the whole Business, not a part of the Business;
  • Detailed description of the activities and interests of the Business.

Priority Sectors


Prince Edward Island will be limiting its nominations to those applicants who are best suited to enhance the Prince Edward Island economy.  Prince Edward Island’s economy relies heavily on its core industries to create economic value.  Accordingly, Prince Edward Island will be giving priority to applications involving:

  • The starting or expanding of an export-oriented business.
  • Businesses that utilize primary sector resources from the following sectors (Agriculture, Fishery and Forestry).
  • Businesses that help economically diversify rural communities in Prince Edward Island.
  • Businesses that develop the province's emerging innovative sectors: bioscience, information technology, aerospace and renewable energy.

Preference will be given to applications that can demonstrate the ability to increase or maintain employment levels within the business.

For more information about Eligible Businesses, please visit our Business Criteria page.

Due Diligence


Business Impact Category applicants and potential Prince Edward Island businesses are to obtain accounting/finance, risk assessment, tax, legal or other advice as may be required to exercise due diligence in selecting and investing. 


Declaration


It is important that applicants understand that:

  • The Government of Prince Edward Island and IIDI do not assume any liability whatsoever for the oral or written misrepresentations made by the prospective business, or an agent/representative thereof, which may lead to an applicant subscribing for shares in a Prince Edward Island business;
  • The Government of Prince Edward Island and IIDI do not guarantee, in any way, that the applicant will eventually recover his/her investment or earn dividends or any other return on their investment;
  • The Government of Prince Edward Island and IIDI do not accept any liability whatsoever for the representations, actions, errors or omissions of businesses, agents, or others involved in investment promotion, investment match making, due diligence or other activity which may be associated with the applicant making an investment.
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