Incorporate a business in Prince Edward Island

Requirements to incorporate in Prince Edward Island

A Prince Edward Island company is incorporated under the province's Business Corporations Act and recorded in the provincial corporate registry. Whether you run a farm business, a tourism operation or a consulting firm, the file rests on the same building blocks:

• Directors: One or more directors (three for a distributing corporation)source. A private company with a single founder can therefore have a single director.
• A registered office: Required at all timessource, in the province. It is where legal documents can be served on the company.
• A name: either a word name, or a numbered companynumbered companyCorporation named after its registry number (e.g. 12345678 Canada Inc.). Skips the name search.See definition →. Numbered company in PEI: Yes (e.g., 1234567 P.E.I. Inc.)source.
• A share structure: classes of shares, their rights and any restrictions on transfer, written into the articles of incorporationarticles of incorporationDocument filed with the registry setting the name, share capital, number of directors and restrictions.See definition →.
• Incorporators: the people who sign the articles, usually the future shareholders.

Government fees and processing times in Prince Edward Island (sourced)

Government fees are paid to the province and are always listed apart from Incorpo's fees. Each figure below comes from a PEI government source; its reference and verification date appear at the bottom of the page.

Name rules in Prince Edward Island

A corporate namecorporate nameThe corporation’s legal name: a distinctive, a descriptive and a legal element.See definition → generally combines a distinctive element (what sets it apart), a descriptive element (what the business does) and a legal ending such as Limited, Ltd., Incorporated or Inc. A registry can refuse a name that is too close to an existing business or that could mislead the public, so a name search is part of every word-name file.

• How names are approved: Name approval request to reserve the name (OCBR)source.
• Reservation fee: $40 name reservationsource.
• Time for approval: Typically within 5 business dayssource.
• Language: English or French; combined names must end with “Inc.”source.

The numbered company remains the simplest route: Yes (e.g., 1234567 P.E.I. Inc.)source. The registry assigns the number, no name reservation is needed, and a business name can be registered later if you want to trade under a brand.

Director residency rules in Prince Edward Island

Director residency in Prince Edward Island: No resident-director quota; if no director resides in PEI, a certificate from a PEI-resident member of the Law Society of PEI must accompany the noticesource. In other words, a board made up entirely of people living outside the Island, or outside Canada, is possible, but the filing then needs an extra document from a PEI lawyer. Incorpo flags this at the questionnaire stage so the file is complete when it reaches the registry.

For comparison, the federal rule under the CBCACBCAFederal statute governing corporations formed with Corporations Canada.See definition → is: At least 25% of directors must be resident Canadians; at least 1 if fewer than 4 directorssource. In the neighbouring provinces, by contrast, Nova Scotia's rule reads: No residency requirement; directors may live outside Canadasource. Whatever the director rule, the registered office stays on the Island: Required at all timessource.

Step by step: how we file for you

1. 1Answer the questionnaireName or number, activity, directors, shareholders and share classes. Save your progress and come back whenever you like.
2. 2Name reservation or numbered companyFor a word name, we submit the name approval request through the registry's online system and follow up until it is approved. Approval time: Typically within 5 business dayssource. For a numbered company, we skip straight to the documents.
3. 3Articles and noticesWe prepare the articles of incorporation and the notices of registered office and directors from your answers. You review and sign them electronically.
4. 4Filing with the PEI registryWe file online and pay the government fee on your behalf. Online incorporation fee: $215 online incorporation feesource.
5. 5Digital minute bookOnce the certificate is issued, your minute bookminute bookOfficial record holding a corporation’s articles, by-laws, resolutions and registers.See definition → is ready in your dashboard: bylaws, organizational resolutions, registers and share certificates.
6. 6Tax registrationsWe walk you through getting a business number from the Canada Revenue Agency and, where your activity calls for them, GST/HST and payroll accounts.

After incorporation: annual return and registrations

A PEI company keeps a few recurring obligations with the registry. Letting them slide changes the company's status and, eventually, can end its existence.

Transparency register: Required, kept at the registered office or another place in PEIsource. Filing with the registry: Shareholder information filed in the OCBR (since Sept. 1, 2020)source. Public access: Not publicsource. Unlike its Atlantic neighbours, where this information stays with the company, PEI has shareholder information filed with the registry, so Incorpo prepares that filing together with your registers.

PEI company, federal corporation or another Atlantic province?

A PEI company generally suits a business that operates mainly on the Island. A federal corporation protects its name across Canada, but it still registers in each province where it does business, PEI included: Must register to do business in PEIsource. Nova Scotia and New Brunswick have their own rules and fees, summarized in the table above.

The right structure depends on where you operate, who your shareholders are and your tax situation. A lawyer or an accountant can help you weigh the options; our province pages compare them side by side.