Saskatchewan Entrepreneur Program- How does it work?
The Saskatchewan Entrepreneur Program was designed for investor applicants who have a minimum net worth of $300,000 Canadian Dollars (CAD) and are willing to establish a purchase or partner business in Saskatchewan.
These investors and their family members will be granted a permanent residence visa if they comply with Saskatchewan’s nomination requirements.
If you are looking at exploring business opportunities as well as obtaining permanent residency in Saskatchewan, the Saskatchewan Entrepreneur Program will be best for you.
Through the Saskatchewan Entrepreneur Program, an individual can get a Temporary Work Permit in order to create or acquire a business in Saskatchewan, and settle there.
Once the business has been successfully managed for six months, the individual can then apply for provincial nomination and subsequently obtain Canadian permanent resident status.
The Saskatchewan Entrepreneur Program involves three steps, which are:
- Submission of an Expression of Interest (EOI) to the SINP and enter the candidate pool.
- Get an Invitation to submit an application during a nomination.
- Get provincial nomination.
During intermittent draws, known as Expression of Interest (EOI) Selections, the Saskatchewan immigration authorities nominate top-ranking candidates from the EOI pool.
How does Saskatchewan Entrepreneur Program Works?
The Saskatchewan Expression of Interest (EOI) system for Entrepreneur individuals runs in a similar way to the system for the International Skilled Worker (ISW) candidates. If you are interested in applying, you will be required to create a profile in the SINP’s online OASIS system and submit an Expression of Interest.
Candidates who fulfill the minimum requirements (see below) may enter the pool, where they are assigned a score and are ranked accordingly.
Unlike the International Skilled Worker (ISW) system criteria, there are no minimum score criteria for Entrepreneur candidates in order to enter the EOI pool. The Saskatchewan Immigrant Nominee Program (SINP) states that those with the highest point score will be nominated and that the number nominated depends on program requirements.
Another major difference from the ISW process is that candidates will not have an opportunity to update their EOIs once submitted.
Minimum Requirements for entering the Saskatchewan Entrepreneur Program EOI candidate pool
Potential candidates must:
- Possess at least $500,000 CAD business net worth and personal assets;
- Show a minimum of three years of entrepreneurial experience and business management within the past 10 years;
- Demonstrate an Intend to invest at least $300,000 CAD in Regina or Saskatoon, or a minimum of $200,000 CAD in another Saskatchewan community.