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PEI-Work Permit Stream

The applicant:

  • Must meet the age, education, work experience, adaptability and language skills necessary to establish and operate a business in Prince Edward Island.
  • Must provide a valid International English Language Testing System (IELTS) test result with a minimum band score of 4.0 obtained within the last 2 years.
  • Must provide a business proposal at time of application and a business plan on the starting or purchasing of a business in Prince Edward Island.
  • Must provide a settlement proposal outlining the intention to move and settle in Prince Edward Island.
  • Must provide evidence of personal net worth of at least $600,000 CAD obtained from legal sources.
  • Must have sufficient unencumbered personal funds to make the required investment, operate the business for a minimum of one year, and settle in Prince Edward Island.
  • Must sign a performance agreement with the Province of Prince Edward Island.
  • Must be eligible and willing to apply to CIC for approval of a work permit for the Prince Edward Island business where the applicant intends to work and invest in.
  • Must make a minimum personal equity investment of $150,000 CAD to establish or purchase an eligible business in Prince Edward Island.
  • Must control not less than 33 1/3% of the equity in the business or make an equity investment in the business of at least $1,000,000 CAD
  • Must provide active and on-going management of the business from within the Province of Prince Edward Island.
  • Must not include a redemption option in the terms of the investment.
  • Must execute an investment agreement or purchase and sale agreement outlining the terms and conditions of the applicant’s intent to invest in an eligible Prince Edward Island business.