The 100% Ownership Stream under the Prince Edward Island Provincial Nominee Program (PEIPNP) offers business-minded individuals the opportunity to own and actively manage a business in this province while paving their way to permanent residency.

Application Process

1. Initial Submission: Applicants must complete a self-assessment form and submit a detailed business proposal.
2. Approval and Interview: If the PEIPNP approves the initial file, the applicant will attend an in-person interview and submit both a settlement plan and a business plan for further evaluation.
3. Nomination: Upon approval of the business and settlement plans, the applicant receives a nomination for permanent residency.

Eligibility Requirements

To qualify for the 100% Ownership Stream, applicants must meet the following criteria:

• Net Worth: Have a verifiable personal net worth of at least $600,000 CAD, legally obtained.
• Education: Hold at least a high school diploma or equivalent.
• Age: Be between 21 and 59 years old at the time of application.
• Management Skills: Demonstrate transferable management skills and relevant work experience.
• Language Proficiency: Achieve a minimum IELTS score of 4.0 within the last two years.
• Business Plan: Submit a comprehensive business plan detailing a proposal for 100% ownership of a business in an eligible sector that aligns with the program’s criteria.
• Active Involvement: Commit to actively managing and operating the business from within Prince Edward Island.
• Escrow Agreement: Sign an Escrow Agreement and deposit $200,000 CAD, which will be refunded upon meeting the terms of the agreement. Failure to comply may result in the forfeiture of the deposit.
• Investment Requirement: Make a minimum $150,000 CAD investment in a new or existing Prince Edward Island business.
• Purchase and Sale Agreement: If acquiring an existing business, provide a valid agreement outlining the terms of the transaction.

Priority Business Sectors

Given Prince Edward Island’s unique economic landscape, priority is given to businesses that align with the province’s strategic goals, including:

• Export-Oriented Businesses: Starting or expanding businesses focused on exporting goods and services.
• Primary Resource Sectors: Businesses utilizing resources from agriculture, fisheries, or forestry.
• Rural Economic Diversification: Initiatives that boost economic growth in rural areas.
• Emerging Innovative Sectors: Ventures in bioscience, information technology, aerospace, or renewable energy.

Final Steps

If all program criteria are met at the time of application, and the PEIPNP approves the applicant’s plans, a nomination certificate will be issued, allowing the applicant to apply for permanent residency through Immigration, Refugees and Citizenship Canada (IRCC).

This program provides a pathway for entrepreneurs to contribute to Prince Edward Island’s economy while building their future in Canada.