Individuals and families who desire to develop, buy, or join a business in Saskatchewan can use the Saskatchewan Entrepreneur Program to gain entry to Canada.
An applicant can receive a Temporary Work Permit through this stream in order to start or buy a business in Saskatchewan and settle there. After six months of successful operation, the individual is eligible to apply for provincial nomination and, eventually, Canadian permanent residence status.
What are the minimum eligibility requirements?
For the Applicant:
Applicants must satisfy the following criteria to be accepted for the Entrepreneur Category:
- Meet the SINP’s minimal conditions for submitting an EOI, which are as follows:
○ A net worth of at least $500,000 CAD, as certified by a Ministry-approved expert third party;
○ Net wealth accumulation by lawful ways, validated to at least 80% by a Ministry-approved expert third party;
○ At least three years of entrepreneurial experience during the last ten years; and
○ A minimum equity investment of $300,000 CAD is required in Regina or Saskatoon. However, at least only $200,000 CAD is needed for any other community in Saskatchewan.
- Have a thorough understanding of their Business Establishment Plan (BEP) and be prepared to show it;
- Unless your entire investment is $1,000,000 CAD or greater, they must own at least one-third (33.33 %) of the stock in a Saskatchewan corporation;
- If establishing a new business in Saskatoon or Regina, create or maintain a minimum of two employment for Canadian citizens or Permanent Residents in Saskatchewan (non-relative workers);
- When purchasing an established firm in Saskatoon or Regina, the applicant must retain the company’s personnel complement (the number of Canadian or permanent resident workers).
- Live in Saskatchewan with their dependent family members; and
- Sign a SINP-issued business performance agreement with the provincial government when the application is accepted.
For The Businesses:
All of the following conditions must be satisfied for a business to be considered eligible under this category:
- As determined by the SINP immigration officer, the firm must have the capacity to generate economic value to Saskatchewan.
- The company can be a sole proprietorship, partnership, or corporation, but it must adhere to the laws of the community in which it works.
- The company must be a for-profit enterprise with the primary goal of profiting from the sale of products and/or services; and
- The company must be classified as a “permanent establishment” under paragraph 400(2) of the Canadian Income Tax Regulations, 1985.
How do I get nominated under this stream?
Step 1: Create an Expression of Interest (EOI) and send it to the SINP.
Prospective immigrants express their interest in relocating to Saskatchewan and starting a business by filling out an online survey with information on their entrepreneurial expertise, assets, and Business Establishment Plan (BEP), among other things. Candidates that match the minimal entrance requirements will be allowed into the EOI candidate pool, where they’ll be ranked and scored based on selection considerations on the points criteria grid.
Step 2: Receive an Invitation to Apply
Candidates are chosen from the EOI system depending on their performance. The EOIs with the highest scores are prioritized for selection and formal application submission. Selected applicants are encouraged to apply to the SINP under this stream. Candidates are then verified, and those who reach this stage are offered a SINP Entrepreneur Approval Letter, which expresses support for the applicant’s request to IRCC for a two-year temporary work visa, allowing them to live and work legally in Saskatchewan while the business concept is put in place.
Step 3: Get nominated.
Once an applicant has met the terms of the Business Performance Agreement, he or she can request to be nominated for permanent residency by the SINP.
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