Saskatchewan Entrepreneur stream is a category of Saskatchewan immigrant nominee program (SINP) which receives Expression of interests (EOI) from those candidates who have an interest in starting a business in Saskatchewan. It means any foreign business owner or business manager who fulfills the eligibility criteria for Saskatchewan Entrepreneur stream can apply to it.
Successful applicants can start a business alone or with a partner in Saskatchewan while living in the province. After successfully operating the business for a minimum of six months, they receive provincial nominations through Saskatchewan for Canadian permanent residence.
Benefits of Saskatchewan Entrepreneur stream:
- Unlike other popular economic immigration categories, Saskatchewan Entrepreneur stream brings applications from business class for Permanent residence
- There is no minimum requirement of language proficiency to become eligible for Saskatchewan Entrepreneur stream
- There is no minimum requirement of level of education to become eligible for Saskatchewan Entrepreneur stream
- One of SINP’s subcategories which allows the entry of immigration candidates without job offer and connections to the province
Eligibility for Saskatchewan Entrepreneur stream:
An applicant must score the minimum Comprehensive Ranking System (CRS) scores in Point Assessment Grid to become eligible for submitting his/her EOI in the pool of candidates
It is important for an applicant to show his/her interest and experience in managing the business in Saskatchewan. For that, he/she must have a minimum of three years a high level of relevant business management or entrepreneurial experience gained in the past ten years
An applicant needs to show a significant amount as personal net worth and investment to become eligible for Saskatchewan Entrepreneur stream.
- He/she must have $500,000 (CAD) at a minimum in Net Business and Personal Assets
- The amount of investment for Saskatchewan Entrepreneur stream depends on the location of the proposed business:
- In Regina or Saskatoon:
If the location is within Regina or Saskatoon, then he/she need to invest a minimum amount of $300,000 (CAD)
- Outside Regina or Saskatoon:
If the location is outside Regina or Saskatoon, then he/she needs to invest a minimum amount of $200,000 (CAD)
Business Establishment Plan (BEP):
An applicant needs to develop and submit a Business Establishment Plan (BEP) mentioning the details on establishment and investment of Saskatchewan business corresponding to the information in corresponding EOI
BEP must include,
- A plan explains how to own or manage a business which aligns with the points assigned in the Entrepreneur Category Points Grid
- Ownership of at least one-third of the equity of a business in Saskatchewan, unless the total investment is $1 million CAD or more
- Commitment to provide active and on-going participation in the day-to-day management
- The creation of minimum two employment opportunities in Saskatchewan for Canadians or permanent residents who are not related to you (only for a new business in Regina or Saskatoon)
Application process for Saskatchewan Entrepreneur stream:
Check the eligibility:
Eligibility criteria for Saskatchewan Entrepreneur stream are different from other SINP’s immigration pathways as it does not include any job offer, language proficiency, connections in the province and more. So, check the above eligibility criteria before proceeding to the submission of EOI.
Submit Expression of interest:
Expression of Interest (EOI) is an expression of a candidate’s interest in the Saskatchewan immigration nominee program (SINP). Candidates interested in operating a business and living in Saskatchewan show their interest by providing required information about their experience as an entrepreneur, assets, and business Establishment Plan (BEP), among other factors, need to submit EOI through SINP online portal.
Get an invitation through regular draws:
Here, the invitation means Letter to Advice to Apply, LAAs. Based on the SINP Entrepreneur Ranking System, profiles of candidates are evaluated and assigned a score, and only top scoring EOIs get prioritized for selection. Then, selected candidates receive Letter to Advice to Apply, LAAs through the draws for the nomination through Saskatchewan
Pay the processing fee for Saskatchewan Entrepreneur stream:
Invited applicants need to pay the amount of $2,500 (CAD) as a processing fee within 20 days after getting invitations. In addition to this, they need to select a financial review service to access the amount for personal net worth and investment.
Sign a business performance agreement:
After getting approval on the application, candidates need to sign a business performance agreement with Saskatchewan. Then, the SINP will issue a work permit support letter which enables applicants to further apply to for a temporary work permit by IRCC. (This work permit is LMIA exempted)
Submit a request for a provincial nomination
Once arriving in Canada, the applicant needs to operate his/her business for a minimum of 6 months according to the terms Business performance agreement. Then, he/she may submit his/her request for a provincial nomination to SINP.
Saskatchewan Entrepreneur Ranking System
Saskatchewan Entrepreneur stream uses a Saskatchewan Entrepreneur Ranking System to rank candidates based on the factors including personal credentials, business experience, and business establishment plan.
|Business Establishment Plan
Total points = 160
How to know about Saskatchewan Entrepreneur stream?
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