Saskatchewan Entrepreneur Program
The Saskatchewan Entrepreneur Immigration program is a great option for business owners and entrepreneurs who are looking to establish, acquire or partner in a business in Saskatchewan, Canada. This program comes under the Saskatchewan Immigrant Nominee Program known as SINP and is intended to boost the economic growth of the province. This is done by bringing in experienced entrepreneurs who can potentially contribute to the local economy of the province.
For applicants who are aspiring entrepreneurs wanting to settle in Canada, the Saskatchewan Entrepreneur stream provides an easier pathway to Permanent Residency. This program offers an easier way to invest in and manage a business. While doing this, applicants can enjoy the benefits of living in one of Canada’s most business-friendly provinces.
Saskatchewan Entrepreneur Program Requirements
Applicants should meet the requirements below to be eligible for the Saskatchewan Entrepreneur stream.
Business Experience
The applicant should have at least three years of relevant entrepreneurial experience or business management which should be gained in the last ten years. The experience gained should be in an active management role in a business where the applicant should have had a decision-making authority.
Net Worth Requirement
The applicant should have a minimum net worth of CAD 500,000. This net worth should be acquired legally and should also be verified through financial documents.
Business Investment Requirement
A minimum investment of CAD 300,000 is required if the applicant has planned to establish or purchase a business in Regina or Saskatoon. For establishing any business in any other Saskatchewan community, a minimum investment of CAD 200,000 is required.
Business Establishment Plan
The applicant must submit the Business Establishment Plan which should have a clear outline of how to begin or get a business in Saskatchewan. This plan should demonstrate the economic contribution and viability of the business.
Active Involvement in Business
If the entrepreneur is approved, they should actively participate in the management and operation of the business regularly. Passive participation is not entertained in this program.
Job Creation
If the business is located in Regina or Saskatoon, it should create at least two full-time jobs for the PRs and citizens of Canada.
Saskatchewan Entrepreneur Immigration Process
There is a structured process followed for the application process of the Saskatchewan Entrepreneur stream. There are several steps involved that are listed below.
Expression of Interest Submission
Applicants should submit an Expression of Interest online through the SINP. This EOI will include details regarding the business experience, investment plans, net worth and the proposed business activities of the applicant in Saskatchewan. A point-based system is used to rank the EOI. Applicants with higher ranks have more chances of receiving an Invitation to Apply.
Application and Interview
When an invitation to apply is received, the applicant should submit a complete application with all the documents that are required. If required, the applicant has to attend an interview during which the business experience and proposals will be assessed. Once the application is approved, the applicant should sign a Business Performance Agreement and get a work permit support letter.
Establishing Your Business in Saskatchewan
The applicant should arrive in Saskatchewan with a valid work permit. The applicant should then establish or get the proposed business. As per the business performance agreement, the applicant has to actively manage and operate the business for at least six months. The applicant should also submit the progress reports to the SINP. This will demonstrate that you are fulfilling the business commitments mentioned in the agreement.
Nomination for Permanent Residency
After successfully running the business for at least 6 months, the applicant can apply for provincial nomination. If all the conditions are met, the applicant will receive a nomination certificate from the province. With this nomination, the applicant can apply for Permanent residency through the IRCC.
Benefits of the Saskatchewan Entrepreneur Immigration Program
Some of the significant benefits to entrepreneurs and business owners wanting to settle in the province through the Saskatchewan Entrepreneur Immigration Program are listed below.
Pathway to Permanent Residency
Successful applicants can get their permanent residency which will allow them to live and work in Canada for an indefinite period.
Diverse Business Opportunities
The economy of the province is thriving with many opportunities in fields including manufacturing, technology, agriculture and many more.
Quality Education and Healthcare
Saskatchewan provides world-class educational institutions and an excellent healthcare system. These can benefit permanent residents and their families.
Economic Growth and Stability
There is stability and growth in the economy of the province. This will ensure that the environment is safe and secure for business investments.
Supportive Entrepreneurial Ecosystem
The applicants can have access to business support services, networking opportunities and mentorship programs.
Low Corporate and Business Taxes
Saskatchewan has one of the lowest tax rates for businesses in Canada. This makes the province an ideal for investment.
Affordable Real Estate and Business Costs
When compared to other metropolitan areas, Saskatchewan has a much lower cost for setting up and running a business.
Types of Eligible Businesses under the Saskatchewan Entrepreneur Program
There are a set of businesses that qualify under the Saskatchewan Entrepreneur Stream. Only businesses that contribute to economic growth and job creation are prioritized by the province. Some of the eligible businesses are listed below.
- Retail and Wholesale Trade
- Manufacturing and Processing
- Agriculture and Agri-Food Businesses
- Hospitality and Tourism
- Healthcare and Wellness Services
- Technology and Innovation Startups
- Construction and Real Estate Development
How Can Croyez Immigration Help You?
At Croyez Immigration, our team specializes in assisting entrepreneurs to apply for the Saskatchewan Entrepreneur Immigration Program and make it successful. We provide thorough guidance in each step of the process to ensure your application meets all your needs. Here is how we can assist you.
- We assess your eligibility based on your net worth and business experience.
- Our team assists you in preparing an EOI. A strong EOI will increase the chances of getting selected.
- We help you develop a solid Business Establishment Plan known as BEP. This BEP will make sure that the business proposed will match all of the economic goals of Saskatchewan.
- Our agents handle all the documentation and paperwork which will simplify the application process.
- Consultants at Croyez will guide you through the phases of business establishment and work permits.
- We also help in applying for permanent residency after fulfilling all the business requirements.
The Saskatchewan Entrepreneur Immigration Program is the best option for entrepreneurs who are experienced and want to establish their business in Canada and get permanent residency. Saskatchewan has become an ideal destination for business-minded individuals as the application process is simple, the investment requirements are affordable and there are a lot of business opportunities. If you want to migrate to Canada through entrepreneurship, Croyez is here to help you. Contact us today for a free consultation and we will help you achieve your dream of a successful business in Saskatchewan.