The Saskatchewan Immigrant Nominee Program (SINP) Entrepreneur stream is designed for individuals who wish to start, acquire, or partner in a business in Saskatchewan. This stream provides a pathway to Canadian permanent residency for entrepreneurs who are capable of contributing to the province’s economic growth.
### Applicant Requirements
To be eligible for the SINP Entrepreneur stream, applicants must meet the following criteria:
1. **Net Worth**:
- Applicants must have a minimum legally acquired net worth of CAD 500,000.
2. **Investment**:
- In Regina or Saskatoon: Minimum investment of CAD 300,000.
- In other Saskatchewan communities: Minimum investment of CAD 200,000.
- The investment must be made in an eligible business that is not on the SINP’s list of ineligible businesses.
3. **Business Establishment**:
- The applicant must establish a new business or purchase and improve an existing business in Saskatchewan.
- They must own at least one-third (33.3%) of the equity of the business in Saskatchewan unless their total investment is CAD 1 million or more.
- The business must create or maintain at least two jobs for Canadian citizens or permanent residents if it is located in Regina or Saskatoon.
4. **Business Experience**:
- The applicant must have at least three years of relevant business management or entrepreneurial experience gained in the past ten years.
5. **Business Plan**:
- A comprehensive business plan is required, outlining the proposed business's potential for success and how it will benefit Saskatchewan’s economy.
6. **Exploratory Visit**:
- Although not mandatory, it is highly recommended that applicants make an exploratory visit to Saskatchewan to research business opportunities and local conditions.
7. **Sign a Business Performance Agreement (BPA)**:
- After the application is approved, the applicant must sign a BPA with the Government of Saskatchewan, outlining the terms and conditions under which they will operate the business.
8. **No Mandatory English Requirement**:
- Unlike many other immigration pathways, there is no mandatory English or French language requirement under this stream. However, language proficiency can be an asset in operating a business in Saskatchewan.
### Application Process
1. **Expression of Interest (EOI)**:
- Applicants begin by submitting an EOI, which is a pre-application that indicates their interest in applying for the SINP Entrepreneur stream.
- EOIs are scored, and candidates with the highest scores are invited to submit a formal application.
2. **Invitation to Apply (ITA)**:
- If selected, the applicant receives an ITA to submit a detailed application, including a business plan and supporting documentation.
3. **Application Submission**:
- After receiving the ITA, the applicant submits a full application along with the required documents and business plan.
4. **Application Assessment**:
- The SINP reviews the application, and if approved, the applicant signs a BPA.
5. **Business Establishment**:
- The applicant then moves to Saskatchewan and has a set period (typically two years) to establish or acquire the business according to the terms of the BPA.
6. **Nomination for Permanent Residency**:
- Once the conditions of the BPA are met, the applicant can be nominated for permanent residency, which is then processed by Immigration, Refugees, and Citizenship Canada (IRCC).
### Advantages of the SINP Entrepreneur Stream
1. **No Mandatory Language Requirement**:
- One of the most significant advantages is that there is no mandatory requirement for English or French proficiency, making it accessible to a broader range of applicants.
2. **Lower Investment Threshold**:
- Compared to other provinces, Saskatchewan offers relatively lower investment thresholds, particularly in communities outside of Regina and Saskatoon.
3. **Business Environment**:
- Saskatchewan boasts a strong economy with significant opportunities in sectors like agriculture, mining, energy, and manufacturing.
- The province offers a supportive business environment with a growing market, low operating costs, and a high quality of life.
- Saskatchewan's government is pro-business, offering various incentives and support programs for new and existing businesses.
4. **Pathway to Permanent Residency**:
- The SINP Entrepreneur stream provides a clear and structured pathway to permanent residency for those who meet the business requirements.
5. **Support for Newcomers**:
- Saskatchewan provides ample support for new entrepreneurs, including resources for business development, networking opportunities, and guidance on regulatory compliance.
This stream is an attractive option for experienced entrepreneurs looking for a province with a welcoming business environment and lower barriers to entry.