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PEI-100% Ownership Criteria

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 detailing the start up or purchase 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 a personal net worth of at least $600,000 CAD obtained from legal sources.
  • Must make a minimum $150,000 CAD investment to start or purchase an eligible business in Prince Edward Island.
  • Must have a minimum of $150,000 CAD unencumbered personal funds to make the required escrow deposit.
  • 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 an escrow agreement with the Province of Prince Edward Island and make a $150,000 CAD deposit, which is held in escrow, to be returned without interest once the terms and conditions of the agreement have been met. 
  • Must control 100% of the business.
  • Must provide active and on-going management of the business from within Prince Edward Island.
  • Must not include a redemption option in the terms of the investment.
  • If acquiring 100% of an eligible Prince Edward Island business, the applicant must provide a purchase and sale agreement outlining the intent of the applicant to purchase the business.