Saskatchewan ‘s final Entrepreneur Stream draw of 2018 is due to take place on Wednesday, November 21.
Immigrant entrepreneurs need to submit an Expression of Interest soon if they want to be considered for this draw.
Candidates are required to establish their business in the province while on a temporary work permit under the Saskatchewan Entrepreneur Stream.
The province nominates candidates for permanent residence once the business is established, and the terms of an agreement met.
The province recently increased the frequency of the popular stream, through which 669 invitations have been issued so far in 2018.
Previously draws took place every three months, now they take place every two months.
Saskatchewan Entrepreneur Stream Draws
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The Saskatchewan immigration Entrepreneur stream is a three-stage process:
- Expression of interest
- Invitation to submit application
The expression of interest must meet the following minimum entry requirements:
- Minimum net worth of $500,000 legally acquired.
- Minimum of three years of entrepreneurial or relevant management experience.
- Investment of at least $300,000 in Regina or Saskatoon, or $200,000 is any other Saskatchewan area.
Candidates enter a pool where they receive a score. The top scoring candidates are invited to apply.
Applications must include:
- Business Establishment Plan confirming figures in expression of interest, and including at least one third ownership of a company in Saskatchewan, unless investment is $1 million or higher.
- Commitment to be active in day-to-day management of business.
- Creation of two or more jobs for Canadian citizens or permanent residents if the business is located in Regina or Saskatoon.
The SINP website says: “Please note that the SINP reserves the right to have Business Establishment Plans assessed by professional third parties identified by the government of Saskatchewan.
“The assessment conducted by third parties will focus on the preparation and due diligence conducted by the applicant in preparing their proposed business plan.”
How to Qualify under the New Saskatchewan and Quebec Expression of Interest Immigration Systems
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