Prince Edward Island Provincial Nominee Program – Business Impact Category
Prince Edward Island is one of the four provinces located on the Atlantic coast. It is also the smallest province of Canada in terms of land area and population. PEI entrepreneur stream does not set requirements for business turnover and job creation for immigrant entrepreneurs. The mandatory requirement of this stream is the lowest among all provinces.
Besides, the investment amount of this program is only CAD$150,000, which is the lowest investment amount among all provincial entrepreneur streams of Canada.
Prince Edward Island is one of the four provinces located on the Atlantic coast. It is also the smallest province of Canada in terms of land area and population. PEI entrepreneur stream does not set requirements for business turnover and job creation for immigrant entrepreneurs. The mandatory requirement of this stream is the lowest among all provinces.
Besides, the investment amount of this program is only CAD$150,000, which is the lowest investment amount among all provincial entrepreneur streams of Canada.
suitable for senior managers and SME business owners
Eligibility
Personal Requirements
- Age: 21-59
- Net Asset: Have a net worth of at least CAD 600,000, which may include spouse’s assets
- Management Experience: Achieved in the past 5 years
- At least 3 years of business management experience (20% or more ownership in business), or
- At least 3 years of senior management experience (supervising at least 3 full-time employees)
- Education: Have at least high school diploma
- Language: Meet the minimum requirement of CLB 4 in English or French, or proof of education level of Bachelor degree or higher)
- Scoring: The total score is 200 points. EOI system is required.
Investment Requirements
- Invest at least CAD 150,000 to establish an eligible new business or purchase and improve an existing business in PEI. Actively participates in day-to-day operations and management of the company in PEI.
- Spend at least CAD 75,000 in eligible operating expenses.
- Own 100% of the business
- Operate the business for a minimum of 12 consecutive months
- Principal applicants with their accompanying family members must demonstrate PEI residence for at least 75% of the time.
Accompanying Family Members
- Your spouse or common-law partner, and
- Your dependent child under 22 years
Application Process:
FAQ
1. What if my children cannot meet the residency requirement because they attend school outside of PEI?
In case the dependent children are attending a post-secondary institution outside of PEI, the dependent children are not required to be physically present in PEI for 75% of the time.
2. Can business ownership be included as my personal net worth?
Assets belonging to a business may be considered as personal assets, only if the applicant, or the applicant and spouse in combination own a minimum of 70% ownership in the business.
3. How much of my business assets can be counted as my personal net worth?
No more than 30% of net corporate assets may be considered as personal net worth subject to the maximum amount of CAD 180,000.
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