The Business Impact Category of the Province of Prince Edward comprises of three different streams, namely, 100% Ownership Stream, the Partial Ownership Stream, and the Work Permit Stream.

100% Ownership Stream

This stream is for investors who plan to make a 100% investment in a business in Prince Edward Province.

Following is the eligibility criteria for the applicants:

• Age: between 21 and 59 years
• Net worth: At least $600,000
• Education: At least high-school level
• The applicant must possess transferable management skills and past employment
• Language requirement: A score of at least 4.0 on an IELTS English test within the last two years
• The applicant must provide a detailed business plan for 100% ownership of the business
• The applicant must actively participate in the management of the business from within the Prince Edward Province
• The applicant must sign an escrow agreement containing stipulations on a deposit of $200,000
• Investment: At least $150,000

Partial Ownership Stream

All investors who plan to make a partial investment in a business in the Prince Edward’s Province, come under this category. The eligibility criteria for the applicants, is as follows:

• Age: Between 21 and 59 years
• Net worth: At least $600,000
• Education: At least high-school level
• The applicant must possess transferable management skills and past employment
• Language requirement: A score of at least 4.0 on an IELTS English test within the last two years
• The applicant must provide a detailed business plan for partial ownership of the business
• The applicant must actively participate in the management of the business from within the Prince Edward Province
• The applicant must sign an escrow agreement containing stipulations on a deposit of $200,000
• The applicant must make a minimum investment of $150,000 in a PEI business for a partial ownership interest of at least 33 1/3% of voting shares, or make a minimum $1 million investment in the company
• Partial investment in start-up is not eligible for this category but partial investment in newly incorporated companies is eligible

Work Permit Stream

Before getting nominated in either of the above mentioned categories, the applicant must obtain a work to become the sole/partial owner of a business in the Province of Prince Edward.

Following are the eligibility criteria for the applicant:

• Age: Between 21 and 59 years
• The applicant must apply to Employment and Social Development Canada (it says CIC) for approval of a work permit for the PEI business that he/she intends to manage
• Net worth: At least $600,000
• Education: At least high-school level
• The applicant must possess transferable management skills and past employment
• Language requirement: A score of at least 4.0 on an IELTS English test within the last two years
• The applicant must provide a detailed business plan for 100% or partial ownership of the business
• The applicant must actively participate in the management of the business from within the Prince Edward Province
• The applicant must sign an escrow agreement containing stipulations on a deposit of $200,000
• The applicant must sign a Performance Agreement containing stipulations on the business investment that must be satisfied to proceed with nomination
• Investment: At least $150,000 in a PEI business
• Upon being coined eligible for this stream, the applicant will receive a letter of support for the PEI PNP to apply to Employment and Social Development Canada for a work permit

Additional Conditions for all three categories

Eligibility Criteria for Business

The business must be a for-profit corporation with its corporate headquarters and permanently established in Prince Edward Province.

The business must be in good standing with the province on all debts and obligations like tax on taxable income.

The business must have assets with a book value of at least $150,000 and a capacity to create a noteworthy economic benefit to the Province of Prince Edward by contributing to one or more of the following:

• Increasing value-added manufacturing, processing or primary resource activity.
• Increasing exports of goods or services and tourism.
• Increasing research and development/technology commercialization.
• Servicing an underserved local or regional market
• Diversifying retail and restaurant investment

Priority is given to the following business activities

• Creation or expansion of an export-oriented business
• Business that utilizes primary sector resources from agriculture, fishery, or forestry sectors
• Business that helps to economically diversify rural communities in PEI
• Business that develops PEI’s emerging innovative sectors: bioscience, information technology, aerospace and renewable energy

The following businesses are ineligible

• Bed and breakfasts, hobby farms, and home-based businesses
• Pay day loans, cheque cashing, money changing, cash machines
• Pawnbrokers
• Sale of used goods
• Real estate development/brokerage, insurance brokerage, or business brokerage
• Professional practices
• Financial services
• Consulting services
• An entity that cannot issue shares
• Any business that tarnishes the Province’s reputation or one that has been started only to gain access to immigrant investment program