100% Ownership Stream
The Province of Prince Edward Island has announced changes to the Business Impact Category of the Provincial Nominee Program. After September 20, 2018, the province will only invite entrepreneurs selected through the Work Permit stream as the 100% Ownership and Partial Ownership streams will close. All candidates will continue to be invited through the Expression of Interest system and the draw schedule will remain unchanged.
If you are interested in immigrating to Prince Edward Island and would like to own your own business, you may be eligible for a nomination for permanent residency through the 100% Ownership Stream of the Prince Edward Island Provincial Nominee Program (PEI PNP). This stream is for foreign nationals with business-ownership or extensive management experience who would like to own and operate their own business in PEI.
Am I eligible to apply?
To be eligible for nomination through the 100% Ownership stream, you must:
- have a minimum verifiable personal net worth of $600,000 which has been accumulated through legal and legitimate sources in your own right;
- have a minimum education of secondary school equivalent;
- be within 21-59 years of age at the time of application;
- have transferable management skills and past employment or business ownership experience;
- meet minimum language requirements equivalent to a CLB/NCLC 4;
- intend to live and work in PEI while providing day-to-day active and ongoing management of your PEI-based company;
- Attend an interview with staff from the Office of Immigration; and
- Sign an escrow agreement with the Province and submit a $200,000 deposit, which will be refunded upon you meeting the terms and conditions of the escrow agreement.
How do I apply?
If you meet the criteria listed above, you must first read the Business Application Guide and then you or your representative must create a profile in the Prince Edward Island Expression of Interest system. To create a profile you will be asked to provide a valid email address, and identification information including your passport details. Once your account has been verified, you will be able to proceed to complete your profile. Applicants can only have one active profile at any time.
Your profile will remain active for a period of six months. You must ensure information provided in your profile is accurate and verifiable. If your situation changes prior to being invited to apply, you may update your profile. If your situation changes after being invited to apply you must contact the Office with the new information; this may impact the ultimate decision on your file. You can find additional information on the EOI points grid in the Business Application Guide.
An Expression of Interest is not an application, but an indication of your interest in being considered to apply to the PEI PNP Business Impact Category. The Office reserves the right to limit intake or make exclusions from Expressions of Interest draws.
If you are invited to apply you will receive an email notification that will include your file number and instructions for submission of your file. If you are invited to apply you must complete the application forms.
Information provided in the Expression of Interest Profile must be valid and verifiable. The Office of Immigration will compare information provided in application with the Expression of Interest Profile. If there is a discrepancy, it may affect your ability to apply. Files that have been determined to contain misrepresentations may be ineligible to apply to the Office of Immigration for 2 years
The complete application package, along with all supporting documentation and the $10,000 application fee, can be submitted to the Office of Immigration in two ways:
In person at 94 Euston Street (2nd floor), Charlottetown, PEI; or
Courier or mail package to
Office of Immigration
94 Euston Street, 2nd Floor
PO Box 1176
Canada C1A 7M8
Do I have to pay a fee?
There is no fee to create an Expression of Interest profile. If you are selected for nomination by PEI, the application fee is $10,000 CAD which must be submitted with your application. The acceptable forms of payment are a bank draft, a certified cheque, or a money order made payable to Island Investment Development, Inc.
If your file is not accepted, the entire fee will be refunded. If your file is declined or withdrawn prior to you being interviewed by our office, $7,500 will be refunded. If your file is declined or withdrawn after you have interviewed with our office, the entire fee is non-refundable.
What forms do I need to fill out?
You must complete all applicable provincial forms listed below:
You must also complete all applicable federal forms from the Federal Application Package for Provincial Nominees.
Do I need to use an immigration consultant or a lawyer?
No, if you are able to complete your application forms on your own and represent yourself to our office, you do not need to use an immigration consultant or a lawyer. If you are not using a representative, all communications with and submissions to the Office of Immigration must come directly from you and the interview must be conducted without the help of an interpreter.
If you do require assistance in preparing your application, you must use an approved Island Agent.
What happens after I am nominated?
After you receive a nomination, you are responsible for submitting your Application for Permanent Residency to Immigration, Refugees, and Citizenship Canada (IRCC) along with your nomination certificate. IRCC will then assess your application for admissibility factors. You can check processing times at IRCC on their website.
Who can I contact to ask questions?
You can check the status of your Expression of Interest profile by logging in to the Prince Edward Island Expression of Interest system.
Forward questions related to the 100% Ownership Stream to firstname.lastname@example.org or call (902) 620-3628.