Innovation Minister Allan Campbell is encouraging Island businesses to seek legal advice if they received immigrant investment money from the Provincial Nominee Program.

Allan Campbell says the financial liability issues are not his biggest concern. (CBC)

Campbell said it is not entirely clear what money the business might have to give back if an investor decides not to come to P.E.I.

Immigrants paid $200,000 through the program for an immigration visa, pending health and security checks by the federal government. About a quarter of that money went for an investment in an Island business.

Citizenship and Immigration Canada is now suggesting that in some cases it could take five years for immigrant applications to be processed. That's led some to wonder if immigrants will back out of the program when they find out how long it could take.

Campbell said he doesn't think Island businesses would be at risk, but he's not sure.

"We sought legal opinion with respect to our responsibilities with the province, and certainly there are other stakeholders in this program as well," he said.

"I would assume that, certainly in the business community, that there will be people that will be seeking a legal opinion as well, and I'd encourage them to do so."

Campbell is concerned that immigrants could pull out of the program if they have to wait five years, but said his main worry isn't the financial liability, but the lost opportunity to boost the Island's population.