The Entrepreneur Category of the SINP is another innovative program where all parties involved receive some benefit.
First, for business people interested in coming to Canada, this category gives them an opportunity to apply for entry–they may not be eligible to apply under other categories such as a skilled worker or under a sponsorship.
Secondly, the Province of Saskatchewan benefits from the economic stimulation these entrepreneurs bring. In some cases they buy existing businesses, others create new enterprises.
To be considered for the SINP Entrepreneur Category, you must meet the following criteria:
- Have a minimum of 3 -5 years business ownership experience or senior management experience;
- Have a minimum personal net worth of CDN $250,000;
- Conduct a comprehensive Exploratory Visit to Saskatchewan (at least five working days) that includes a Visitation Seminar and interview with a SINP Business Immigration Officer;
- Submit a Business Proposal or Relocation and Settlement Plan;
- Make a minimum, verifiable investment of CDN $150,000 into starting a new business or buying outright an existing business, and have an active (not passive) management role in the day-to-day operation of the business;
- Intend to own at least 33.3% of your business in Saskatchewan (with a minimum investment of CDN $150,000). If you will not own 33.3% of your business, you must invest a minimum of CDN $500,000 into the business, in either case, you must have an active management role in the day-to-day operation of the business;
- Make a deposit of CDN $75,000 into a trust account and sign a Performance Agreement based on your Business Proposal or Relocation and Settlement Plan.
Prepare and submit pre-application material to SINP to determine if invitation will be extended for an Exploratory Visit. SINP will require the following at least 2-3 months before the planned visit:
- Your Resume (to show criteria #1 is met)
- Your Personal Net Worth and Financial Statement (to show criteria #2 is met)
- Your Statement of business intentions
- State when you would like to come for a visit
Wait to receive an invitation
If invited, apply for a Temporary Resident Visa from the visa office serving your region.
Come to Saskatchewan to meet criteria #3. Plan for at least five days of meetings.
If still interested in investing in Saskatchewan, attend to satisfying criteria #4-#6
Prepare and submit SINP and Permanent Resident application documents to SINP
If nominated, SINP will submit Permanent Resident forms and documents to the visa office serving your region
Pay the refundable $75,000 deposit (criteria #7)
Apply for an Open Work Permit, come to Canada, start the business (while the visa office completes Permanent Resident processing)
If approved, receive Permanent Resident status