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Prince Edward Island (PEI)

The Prince Edward Island(PEI ) government has a program under which it can nominate certain applicants for Canadian permanent residence (PR) , also referred to as the Provincial Nominee Program (PNP). Successful businesses can apply for PNP in PEI under three specific immigration programs. These programs all require applicants to invest in a PEI business. The programs are:

  • The 100% Ownership Program

  • The Partial Ownership Program

  • The Work Permit Program

PEI Business Immigration Program Eligibility

Applicants can either apply on their own or utilize services of an approved island agent. Island agents are a genuine and authentic resource to reach out to PEI businesses. The first step is to file a business plan, which must include;

  • Company Synopsis.

  • Products and services description.

  • Industry description.

  • Competition overview.

  • Marketing plan.

  • Operational plan.

  • Management team and staff.

  • Applicant’s role in business.

  • Historical Financial statements.

  • Projected Financial statements prepared by qualified Chartered Accountant..

Financial Requirements under PEI

All business immigration applicants to PEI must:

  • Invest at least $150,000 Canadian dollars in a PEI company.

  • Control at least 1/3 of the company’s equity OR make an equity investment in the company of at least $1,000,000.

  • Actively and consistently manage the business from within PEI.

  • Exit clause for Investment is not allowed.

Eligibility Criteria

Businesses must meet the following criteria:

  • Is a for-profit corporation incorporated under the Companies Act of PEI or the Canada Business Corporations Act.

  • Derive profits by selling goods and services.

  • Be debt positive

  • Has Prince Edward Island as the headquarters.

  • Maintain a “permanent establishment” in PEI as defined under the Income Tax Act by regulation 400 (2).

  • Good profit potential in future.

  • Have assets with a value of at least $150,000. These assets must be actively used for the expansion of the business.

  • Under the Partial Ownership if portion of equity is sold, then the business must.

  • Have incurred a total of $60,000 CAD in wages and/or net income in the past year..

    • Good profit potential in future.

    • Be able to prove its ability to sustain the applicant’s salary.

  • Business should have the potential to create significant economic benefits for PEI by contributing through under mentioned activities;

    • Value-added manufacturing, processing or primary resource activities.

    • Exports of goods or services.

    • Destination tourism.

    • Tourism attractions.

    • Fixed roof accommodations.

    • Research and development.

    • Technology commercialization.

    • Any industry in an underserved local or regiona.

    • Retail and restaurant investment.

  • Be able to prove its ability to sustain the applicant’s salary.

If a license or credential is required in order for the business to operate, the applicant must show in her business plan that all relevant licenses and credentials have been obtained.

All businesses participating in the PEI business immigration program will be required to report to the PEI government in order to ensure that the business is following all relevant rules and regulations. These reports will only be mandatory over the first five years of the business’ operation.

Community Endorsement is mandatory and is given maximum weightage and that’s where an Island agent will be able to help get this requirement fulfilled for Points criteria.

Dependants

The undermentioned dependents can be included in PEI business immigration applications.

  • Spouse.

  • Common Law Partner.

  • Dependent children who are.

    • Younger than 19 and do not have a spouse or common law partner OR.

    • Financially dependent on their parents due to physical or mental illness.

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