Prince Edward Island PNP Business Immigration Program
The Province of Prince Edward Island is interested in building a better, brighter future for all; including both Islanders currently residing within the province and newcomers alike. Newcomers comprise a significant portion of both our current and proposed future growth. Our recently released Island Prosperity Strategy sets out the course of action that we plan to pursue to grow the economy of this great province. In the strategy, it states “Our province’s destiny will be determined by the choices we make today. We simply must take advantage of our place in the world in a way that will propel us forward to a new position on the national and global stage.”
The Business Impact Category provides the opportunity for foreign nationals to be nominated by Prince Edward Island to become permanent residents of Canada providing they invest in and actively manage a business in Prince Edward Island. The Business Impact Category is looking for interested business persons who can demonstrate vision, leadership, and determination. Together with a growing population and economy, we are confident that a choice to invest in and operate a business in Prince Edward Island will serve not only the interests of the business person themselves but the entire province at large.
- Minimum net worth of CAD $600,000
- Minimum active investment CAD $150,000
- A refundable deposit of $200,000 Canadian dollars (CAD) to be held in escrow. Of the $200,000 CAD deposit $25,000 CAD will be refunded after 6 months of residency on Prince Edward Island another $25,000 CAD will be refunded after 1 year of residency on Prince Edward Island and the remaining $150,000 CAD will be released upon the applicant meeting the requirements outlined in the escrow agreement.
Businesspersons are integral to the advancement of the Prince Edward Island economy. Prince Edward Island recognizes that this is still the fact and welcomes any capable individuals with an entrepreneurial spirit to come to our 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, Settlement, and Population, the applicant will receive a 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. Of the $200,000 CAD deposit $25,000 CAD will be refunded after 6 months of residency on Prince Edward Island another $25,000 CAD will be refunded after 1 year of residency on Prince Edward Island and the remaining $150,000 CAD will be released upon the applicant meeting the requirements outlined in the escrow agreement.
Prince Edward Island Facts
Area: 5,660 Km2
Population: 145,855 (2011)
Approximately 54% of the population is rural
The majority of the population is of British ancestry
Industry: agriculture, tourism, fishing and manufacturing
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