Minimum Applicant Eligibility Requirements

To qualify under the Work Permit Stream, applicants must:

• Have a minimum personal net worth of $600,000 CAD, earned through legal means

• Possess at least a secondary school education (or equivalent)

• Demonstrate transferable management skills through prior business ownership or senior management experience

• Be between 21 and 59 years of age at the time of application

• Meet the minimum language requirement (CLB 4 or higher)

• Intend to live and work in PEI while managing the business

• Provide active and ongoing management of the proposed business from within PEI

Minimum Business Eligibility Requirements

To qualify, the business must:

• Be a for-profit corporation incorporated under the PEI Companies Act or the Canada Business Corporations Act

• Operate primarily for active income (sale of goods or services) rather than investment income

• Maintain headquarters and a permanent establishment in PEI

• Have been an established commercial operation for at least 12 months (if purchasing an existing business)

• Be in good standing with the province on debts and obligations

• Demonstrate potential for long-term commercial viability and significant economic benefit to PEI

• Participate in ongoing program evaluation and annual reporting for up to 5 years

• Meet all conditions set out in the Business Performance Agreement

Ineligible Businesses

Applications will not be accepted for:

• Passive investment, real estate, insurance, or financial services companies

• Bed & breakfasts, hobby farms, or home-based businesses

• Payday loans, cheque cashing, money exchanges, pawn shops

• Sale of used goods (except collectibles or value-added services)

• Professional practices (law, medicine, consulting, etc.)

• Any entity unable to issue shares or deemed to disrepute the program

Exceptions apply for certain industries like boutique hotels, construction/renovation, franchises, or real estate development — provided they meet strict additional conditions.