Canadian Immigration -

Prince Edward Island Provincial Nominee Program

Immigrant Partner Program Criteria

The Immigrant Partner element of the Nominee Program is intended for prospective immigrants who propose to make an investment in a Prince Edward Island company and to take an active role in the investee company. That role may be either as a director or as a senior manager defined at level "0" of the National Occupational Classification.

• Immigrant Partner Net Worth and Liquidity Criteria

  Immigrant partners are required to have a minimum net worth of $750,000, of which $350,000 will be in the form of liquid assets.

• Investment Amount and Good Faith Deposit

  Immigrant partners must be prepared to make a $200,000 investment by way of preferred shares in an eligible Prince Edward Island company and to place $25,000 in escrow with the Government of Prince Edward Island.

• Exploratory Visit

  Immigrant partners are required to make an exploratory visit to Prince Edward Island of at least three business days duration. During this time, the immigrant partner will meet with the Program Officer for an interview to assess his/her application for nomination.

  It is also strongly encouraged that prior arrangements have been made for the immigrant partner to meet with the principals of companies in which they may invest, preferably at the primary place of business. The necessary appointments are to be made directly by the immigrant partner (or his/her agent) with the investee company, or an investment intermediary acting on behalf of the prospective investee company(ies).

• Investment Promotion and Match Making

  Eligible Prince Edward Island companies interested in receiving investment from immigrant partners may solicit investment directly or through an investment intermediary which acts as a match maker between the immigrant partner and the prospective investee. It is important that immigrant partners fully understand that:

  1. neither the Government of Canada nor the Government of Prince Edward Island assumes liability for the oral, written or other representations of the prospective investee, or an investment intermediary, which may lead to an immigrant partner subscribing for shares in an investee;
  2. neither the Government of Canada nor the Government of Prince Edward Island guarantees that the immigrant partner will eventually recover his/her investment or earn dividends or other return; and
  3. neither the Government of Canada nor the Government of Prince Edward Island accepts liability for the representations, actions, errors or omissions of investees, investment intermediaries, or others involved in investment promotion, investment match making, due diligence or other activity which may be associated with the immigrant partner making an investment.

• Eligible Investees

  A company proposing to issue preferred shares to an immigrant partner under the Prince Edward Island Nominee Program will provide a written opinion from its independent legal counsel or an independent chartered accountant certifying the investee company meets the following eligibility criteria:

  1. the company must be a for-profit corporation incorporated under the Companies Act of Prince Edward Island or the Canada Business Corporations Act;
  2. the company's authorized capital structure permits the issuance of preferred shares to an immigrant partner (s) in alignment with the provisions of the Prince Edward Island Nominee Program;
  3. the investee's corporate headquarters are located on Prince Edward Island;
  4. the investee maintains a "permanent establishment" on Prince Edward Island as defined under the Income Tax Act by regulation 400 (2); and
  5. the investee is liable to pay income tax on taxable income earned as a result of a "permanent establishment" on Prince Edward Island, irrespective of income or other taxes which may also be payable in other jurisdictions as a result of income earned or other business activity.

  In addition, the investee must be engaged in business which is included in the Ministry of Development & Technology's strategic priorities, namely:

  1. aerospace and spin-off industry;
  2. bio-resources, life sciences and new uses;
  3. information and communications technologies;
  4. film, television and new media;
  5. manufacturing and processing;
  6. tourism attractions and tourism fixed roof accommodations, excluding cottage or recreational property development;
  7. first-of-kind, market-ready, peer-reviewed exportable technology including proprietary products, processes or other intellectual property.
  8. Investment may be permitted in up to ten retail companies, in aggregate, with a limit of one investor per investee.

• Excluded sectors include:

  1. Primary resources, such as agriculture, fisheries and forestry, except where the company's primary business activity is predicated upon first-of-kind, peer reviewed, exportable technology;
  2. Wholesale;
  3. Financial services;
  4. Business and personal services;
  5. Most professional practices;
  6. Real estate and construction.

Complete our Free Online Assessment to see whether you qualify for the Prince Edward Island Provincial Nominee Program.