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Prince Edward Island Entrepreneur Work Permit Stream
Provincial Nominee Program
The PEI Provincial Nominee Program (PEI PNP) Entrepreneur Work Permit Stream is best suited for foreign entrepreneurs who are interested in moving to PEI to operate a business.
The province has developed a new category which allows communities to endorse the selection of potential Applicants and provide guidance and support for a greater likelihood of successful integration into the community.
In order to the eligible for the program, the Principal Applicant must:
- Be between 21 and 59 years of age at the time of application;
- Have a verifiable personal net worth of at least CAD$600,000;
- Be able to prove that the funds have been accumulated through legal and legitimate sources;
- Have a minimum education of secondary school equivalent;
- Have transferable management skills and previous employment or business ownership experience;
- Have basic English or French language proficiency equivalent to Canadian Language Benchmark level four (4) or higher on a valid language test;
- Demonstrate intent to live and work in PEI and be actively involved in the day-to-day management activities in the established business on an ongoing basis;
- If a community endorsement is received and claimed, establish the business in the endorsing community.
Upon approval of the application, Applicants are required to sign a Performance Agreement with PEI.
Upon successful establishment of the business in PEI and fulfillment of the Performance Agreement, Applicants and their accompanying eligible family members (if applicable) must meet the following requirements in order to be nominated for permanent residency:
- Maintain residence and be physically present in PEI for a minimum of 274 days of the year while operating the business;
- Invest at least CAD$150,000 into the business within 12 months of landing in PEI;
- Operate the business for at least 12 consecutive months;
- Provide active and ongoing management of the business from within PEI;
- Provide prepared financial statements noting at least CAD$75,000 in eligible operating expenses;
- Satisfy all other terms and conditions of the signed Performance Agreement.
Applications may be denied on the following grounds:
- Direct or indirect misrepresentation;
- If the information provided in the Expression of Interest Profile is not verifiable or if there are discrepancies;
- If the Applicant proposes an ineligible business;
- If the Applicant has a criminal record.
Acquiring a Work Permit and Permanent Residence
The Entrepreneur Work Permit Stream is a multi-step process requiring registration and application to the PEI PNP first. PEI PNP will invite the highest-scoring registrants to submit a full application. Upon approval of the application, PEI PNP will require the Applicant to attend an in-person interview. PEI PNP will then issue the Applicant(s) a work permit support letter which will allow the Applicant(s) to apply for a two (2) year work permit and begin implementing the business plan and making the required investments.
Applicants must submit an application for nomination after at least 12 months of operating the business for determination on whether the terms and conditions of the Performance Agreement were met. If the determination is positive, Applicants are nominated for permanent residence and may apply with eligible family members to IRCC to become permanent residents under the Provincial Nominee Class.
Application Processing Time
Registrations are valid for six (6) months with monthly draws to issue Invitations to Apply. Application decisions are usually made within three to six (3-6) months. Applications for nomination are usually assessed within two to four (2-4) months. Permanent residence application processing times for the Provincial Nominees class are currently 15 to 19 months.