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Prince Edward Island Business Impact Category
About the ProgramPrince Edward Island recognizes that businesspersons are integral to the advancement of the economy and welcomes any capable individuals with entrepreneurial spirit to come to the 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. If an applicant meets all program criteria in place at application time and is approved, a nomination certificate will be issued
Under the 100% Ownership Stream, the applicant must:
  • • Complete and submit all required Federal and Provincial PNP forms and supporting documentation
  • • Possess a minimum verifiable personal net worth of $600,000
  • • Possess 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
  • • Have scored a minimum band score of 4.0 on the IELTS within the last 2 years
  • • Provide a detailed business plan for 100% business ownership
  • • Provide active and on-going management of the business from within Prince Edward Island
  • • Sign an escrow agreement containing stipulations on a deposit of $200,000
  • • Make a minimum of $150,000 investment into a new or existing Prince Edward Island owned and operated business
  • Purchase and Sale Agreement

    Should applicant choose to purchase a 100% of an eligible Prince Edward Island business, he/she 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.
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