Saskatchewan Entrepreneur Stream invites 54 immigrants

By Scarlett Wilson [Published 10 May, 2022 | 05:04 AM] 518
Saskatchewan Entrepreneur Stream invites 54 immigrants

On May, 05 Saskatchewan Immigrant Nominee Program (SINP) issued 54 invites following a fresh Entrepreneur stream draw. A minimum score of 90 and an average score of 110 points were necessary.

The first draw of 2022 Saskatchewan Entrepreneur stream was held on January 06 that invited 51 applicants. The second draw was conducted on March 03 that invited 58 new immigrants with a minimum score of 80 and highest score of 135.

The next dates of Saskatchewan Entrepreneur draw 2022 is expected on September 01 and November 03. 

What is Saskatchewan Entrepreneur Program? 

The Saskatchewan Entrepreneur Stream is for international entrepreneurs who wish to establish their business in the province. This program enables applicants to get nominated by the province of Saskatchewan through which they can ultimately apply for permanent residence to the federal government of Canada. 

To receive an Invitation to Apply under this stream each candidate has to get evaluated by a point-based score system (up to 160 points), depending on multiple factors such as age, education, investment, business plan etc. The SINP conducts frequent draws, and each candidate that score above or equal to the draw's threshold is invited to apply. 

It is important to note that the Entrepreneur Stream is not aligned with the Express Entry Program, hence the processing time taken is usually longer than compared to the 6-months average processing time taken in the Express Entry Program. 

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What are the Minimum Eligibility Criteria to apply for the Saskatchewan Entrepreneur Stream? 

1. For Applicants: 

  • The candidate should have a net worth of $500,000 CAD, that should be verified by a designated third-party professional. The accumulation of the net worth should be demonstrated though legal means.
  • The candidate should be able to demonstrate at least 3 years of entrepreneurial experience in the last 10 years.
  • A minimum of $300,000 CAD should be intended to invest in the proposed business plan by the applicant in Regina or Saskatoon. If the candidate chooses any other community in Saskatchewan the minimum investment should be of at least $200,000 CAD. 
  • The candidate should demonstrate a thorough knowledge of their proposed BEP (Business Establishment Plan).
  • The applicants need to create and maintain a minimum of 2 jobs for a permanent resident of Canada or for a Canadian citizen.
  • If the investment to be made is less than $1,000,000, the applicant should own at least one-third of the equity of proposed business. 
  • The entrepreneur should reside with their dependent family members in the province of Saskatchewan. 
  • Once the SINP application is approved, the candidate should sign a Business Performance Agreement with the Government of Saskatchewan. 

2. For Businesses: 

  • The business should have the potential to contribute to the economic development of Saskatchewan. 
  • The business should be operated with the primary motive of creating profits through the sale of goods or services. 
  • The business should be a "permanent establishment" of the Canadian Income Tax Regulations, 1985. 
  • The business should meet all the legal requirements of the community in which it is to be operated. 
  • The proposed business can be a Corporation or Partnership or a Sole Proprietorship. 

To distinguish candidates with the same score on the Entrepreneur stream points grid, Saskatchewan prioritises three selection variables over which importance is laid:  

  • Official language proficiency
  • Those having their business planned for a crucial economic sector
  • An exploratory visit has been completed

Tags: Saskatchewan Immigrant Nominee Program , Entrepreneur stream draw, Canada Immigration news, SINP, Canada Business Visa


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