Located on Canada’s east coast, Prince Edward Island (PEI) is the smallest province in Canada. Connected to the mainland by a 12.9km bridge, PEI offers something that no other place in the world can: opportunity set amongst fertile farmland, red-sand beaches, and a way of life that has earned it the well-deserved nickname, The Gentle Isle.
As the birthplace of Canada, Prince Edward Island has a long history of welcoming newcomers who have a dream to make big things happen. Some of Canada’s most famous leaders, entrepreneurs, artisans, and business people have gotten their start on PEI’s peaceful red shores.
In an effort to welcome even more newcomers to the province, the Canada Entrepreneur Program seeks to attract foreign individuals who are experienced entrepreneurs. With the Prince Edward Island Provincial Nominee Program, qualified applicants can invest $150,000 CAD in establishing a business on PEI. Applicants are required to run the business for a minimum of one year before they can become eligible to be nominated for permanent residency.
This is a slight change from previous program requirements. Applicants will now receive a work permit, and provided certain terms and conditions are met, are then eligible to be nominated to receive permanent residency.
The program is designed for those who are experienced business owners as applicants are required to have a minimum of three years (out of the past five years) of transferable management or business ownership experience that includes managing at least three employees.
There are several benefits to settling in PEI over a larger city centre like Toronto or Montreal. The first is the benefit of space—a smaller population means more room to spread out and lead a more peaceful lifestyle. Housing prices tend to be lower on PEI than in larger cities and thanks to technological advances, everything you could possibly want is still available at the click of a button thanks to Canada’s extremely sophisticated technological and transportation networks.
The second benefit is the ability to live full-time in a place that most people can only dream of visiting on vacation. PEI is known around the world for its beautiful scenery, friendly and welcoming people, cultural attractions, and fresh cuisine. This is your chance to play as hard as you work in a country that boasts some of the best education, healthcare, and infrastructure in the whole world, not to mention a stable and growing economy.
If you have an entrepreneurial spirit and are looking for a savvy investment opportunity, the Prince Edward Island Provincial Nominee program might be the answer you’ve been looking for. For more information, including full eligibility criteria, contact us today.