Under the Entrepreneur Category of Saskatchewan Immigrant Nominee Program (SINP), eligible candidates can set up or acquire or become a partner of a business in Saskatchewan. The process of nominating a candidate for provincial nomination under this category involves three steps:
1. Expression of Interest (EOI)
Candidates indicate their interest to reside in Saskatchewan and operate a business in the province in an online survey. The candidate must also provide information including their entrepreneurial experience, assets, and Business Establishment Plan (BEP). If the candidate meets minimum eligibility criteria, their profile will enter EOI candidates’ pool where each profile will be awarded a score and ranked on the basis of selection factors on the points assessment grid.
2: Invitation to Apply
The highest scoring candidates are invited to apply to the SINP under the Entrepreneur immigration subcategory. If they successfully undergo a verification process, they will receive an SINP Entrepreneur Approval Letter, supporting their request for a work permit from the Immigration, Refugees and Citizenship Canada(IRCC). With this temporary work permit which will be valid for two years, the candidate can reside in Saskatchewan and implement the business plan.
3. Provincial Nomination
If the candidate satisfies the conditions of the Business Performance Agreement, they can apply for provincial nomination from SINP.
Minimum Requirements for Applicants
- A minimum net worth of $500,000 CAD, which must be verified by a Ministry-approved professional third party. The net worth must have been accumulated through legal means.
- Minimum three years of entrepreneurial experience acquired within the past 10 years
- A minimum equity investment of $300,000 CAD, if the proposed business is located in Regina or Saskatoon, or a minimum of $200,000 in other areas.
- Candidate must be able to demonstrate an in-depth knowledge of their Business Establishment Plan (BEP).
Own at least one-third (33.33 percent) of the equity of a business in Saskatchewan unless their total investment is $1,000,000 CAD or higher.
- Create or maintain at least two jobs for Canadian citizens or Permanent Residents in Saskatchewan (non-relative workers) if establishing a new business in Saskatoon or Regina;
- If purchasing an existing business in Saskatoon or Regina, the applicant must retain the number of Canadian or permanent resident workers as it was when the purchase was made.
- The applicant must reside in Saskatchewan with their dependent family members
- The applicant must also sign a business performance agreement with the Government of Saskatchewan, which will be provided by the SINP after the application is approved.
Minimum Requirements for Businesses
- The business must have the potential for creating economic benefit to Saskatchewan
- The business must meet the legal requirements of the community in which it operates
- The business must be a for-profit entity with the primary purpose of earning profits through the sale of goods and/or services
- The business must be a “permanent establishment” as defined under subsection 400(2) of the Canadian Income Tax Regulations, 1985.
Business Establishment Plan
The Business Establishment Plan (BEP) should outline the steps that the applicant will be taking to make the proposed business a success. It must also demonstrate that the business will meet the required minimum level of investment and that the applicant will be holding an active managerial position in the business. It should also prove that extensive research has been done by the applicant on into the economic, market, and cultural factors relevant to the proposed business before submitting the plan.
Though the candidate may seek the help of a third party to develop the BEP, the candidate must have complete knowledge and understanding of the plan. If the immigration officials find out that the applicant is unaware of the contents of the BEP, the application may be rejected. The plan must have details including the business idea, economic benefit, investment, business relationships, and human capital.
Exploratory Visit Report
For the candidates who wish to apply for provincial nomination from Saskatchewan through the Entrepreneur category, an exploratory visit to the province is mandatory. The applicants must also submit an Exploratory Visit Report along with their online application, detailing the activities they undertook during their visit. The report must cover the entire length of stay in Canada, including time spent in other provinces.
Canada Provincial Nominee Program is one of the best immigration pathways to make Canada your permanent home. Get in touch with us to explore your options to migrate to Canada through Provincial Nominee Program