Saskatchewan Investment Entrepreneur Program

The SINPs Entrepreneur Category is the best way for the Saskatchewan Immigration for Entrepreneurs. The Entrepreneur sub-category for investors is a program that is designed for an entrepreneur who aspires to set up, acquire, or become an active partner in a business in Saskatchewan.

Having read this whole article, you will gain all the necessary information about the SINP Entrepreneur program; you mustn’t think that Canada Immigration is not so tough. You must consult the best immigration consultant to help you with completing the application, filling up forms, providing latest updates related to immigration to Canada, and making you more eligible by providing valuable advice and instructions. Keep reading below to know more about the SINP’s Entrepreneur Category.

Note: The next invitation round for the SINP’s Entrepreneur Category is fixed on 21, November 2018.

The Nomination Process Under the SINP Entrepreneur Program

Here is a step by step Sinp entrepreneur application guide.

Step 1: Submit an Expression of Interest (EOI) to the SINP 

In this step the candidates are required to give a statement that shows their interest in residing and vigorously operating a business in Saskatchewan by providing information about factors like their entrepreneurial experience, Business Establishment Plan (BEP), assets, etc in an online survey.

Candidates who qualify under the minimum entry criteria will be able to enter the SINP EOI Pool where they will be ranked according to their score based on the selection points.

Step 2: Invitation to Apply

The Candidates will be selected under the EOI system based on their score.  The profiles with the highest scores are prioritized for being selected and receiving a formal request to apply. Selected candidates are invited to apply to the SINP through the Entrepreneur Immigration Sub-category, after which comes the verification process, on passing the verification process the candidates will be issued a SINP Entrepreneur Approval Letter, which will show the support of the applicant’s request to the IRCC for a two year temporary work permit through which the candidate can live and work legally in Saskatchewan till he/she implements the business proposal.

STEP 3: Nomination

Once the conditions for the Business Performance Agreement is met then the candidate can apply and be nominated by the SINP for obtaining a Permanent Residency.

Minimum Eligibility Criteria

Minimum Requirements for the SINP Entrepreneur Program:

  1. Meet the minimum criteria to qualify for submitting an EOI to the SINP:
  2. Have a net worth of atleast $500,000 CAD, verified by a third party that has been approved by the ministry.
  3. Have acquired the Net worth through legal means, verified by a third party that has been approved by the ministry.
  4. Have a minimum of 3 years of entrepreneurial experience from the past 10 years
  5. Have $300,000 CAD as a minimum equity investment in Regina or Saskatoon. Or have at least $200,000 CAD in equity in any other city in Saskatchewan.
  6. Should be able to show that they possess the In-depth knowledge of the Business Establishment Plan (BEP) that they have submitted.
  7. Own atleast one-third of the equity they have submitted (33.33 percent) unless their total investment amounts upto $1,000,000 or higher.
  8. Create a job opportunity for two Canadian Citizens or Permanent Residents in the state of Saskatchewan (non-relative workers) if the business establishment is in Regina or Saskatoon.
  9. If the candidate will be purchasing an existing business in the cities of Regina or Saskatoon the applicant should maintain the business and staffing complement in place during purchasing the business.
  10. Be a resident of Saskatchewan along with their dependant family members.
  11. Sign an agreement of business performance with the government of Saskatchewan, which will be provided by the SINP once the application is approved.

Minimum Requirements for Businesses

Requirements for a business to be considered eligible under the SINP Entrepreneur Program:

  1. The business should be able to economically benefit Saskatchewan as per assessment done by an immigration officer.
  2. The business can be a sole-proprietorship, partnership, or Corporation but it should meet the legal requirements of the city it operates in.
  3. The primary purpose of the business should be earning profits through the sale of goods and services.
  4. It should be considered a “permanent establishment” under the subsection 400 (2) of the Canadian Income tax Regulations, 1985.

Additional Requirements for Business Succession

If the candidate is going to buy a business that is already established in Saskatchewan, he should meet the following requirements:

  1. The business should have been in operation by the previous owner for the last three years.
  2. The applicant should visit the place and should have met with the previous business owners.
  3. The applicant should own the business completely resulting to a full change in ownership from the last owners to a new one.
  4. The applicant should make a commitment to maintain job opportunities for Canadian citizens or permanent residents as well as maintain the existing wages and employment terms.

If the applicant is purchasing an already existing business in Saskatchewan from an SINP Entrepreneur Nominee, he should meet the following requirements:

  1. The business should have been in operation for the past three years.
  2. It should show profit in two out of three years.
  3. The last owner should be a Canadian Citizen or a permanent resident.
  4. The applicant should have visited the place to meet the current owners.
  5. Efforts should be made to establish a fair market value for the business.
  6. The current owner should give full ownership to the new owner along with full control, meaning a complete change in the ownership should be made.
  7. The applicant should commit to creating jobs for Canadian citizens or permanent residents.

Requirements for Joint Ventures between SINP Program:

If the applicant is aspiring for being in a Joint Venture with another SINP applicant in operating a newly established business, the following requirements should be met:

  1. The business should have been in operation from the past 3 years by the same owner.
  2. Applicant should visit the place and meet with the business partners.
  3. Efforts should be made to have a fair market value for the business or the investment amount.
  4. In case of continuation a complete change in the ownership can also take place, in which the applicant assume full control of the business.
  5. The applicants should be able to maintain the jobs of the people already employed there, its not mandatory for the people to create new jobs.
  6. When submitting an application under the SINP entrepreneur program the applicant should clearly mention that they are aspiring for a Joint Venture and should submit an identity of their business partners.
  7. Every applicant should submit their own EOI together.

NOTE: Every applicant in a joint venture application will be separately evaluated. Selection from the SINP EOI pool for further processing will depend on the applicants score from the SINP entrepreneur point grid. If one partner is not selected then all the other partners need to update their business proposal to still remain eligible under the SINP EOI points that they earned earlier.

If all the partners have been selected and approved, each partner has to sign a separate SINP business performance agreement and every partner should be eligible to meet the terms of his agreement to be nominated under the sinp entrepreneur program. If any partner fails to meet their part in the business agreement they submitted all the other partners should update the terms from their end to still be eligible under the program criteria.

Minimum Requirements for Investing:

Any investment will be considered eligible if it is necessary for establishing and operating a new business, or to purchase, improve and operate the existing business. Some investments with limitations will be considered eligible.

Expression of Interest Points Grid (SINP EOI) 

The SINP Entrepreneur Point grid scores the candidates based on three factors that are:

  1. Human Capital
  2. Business Experience
  3. Business Establishment Plan

The points scored from the expression of interest Saskatchewan grid will decide if the candidate is eligible to receive an SINP Nomination Certificate under the SINP Entrepreneur Program.

Human Capital factors:

FactorDescriptionPointsMaximum Points
Age20 or less0
21-2910
30-3915
40-541015
55+0
Exploratory VisitHas conducted an exploratory visit to Saskatchewan for at least five working days with evidence of contact with relevant business contacts.1515
Official Language Ability (English or French)No language test0
Canadian Language Benchmark (CLB) 45
CLB 51015
CLB 6+15
Qualifications/EducationHas a trade or occupational certification that required at least one year full-time post-secondary training or apprenticeship equivalent10
15
Has completed a Bachelor Degree or Post-Graduate Degree/Designation in a Business, Agriculture, or Science/Technology field15
Net Business and Personal Assets$500,000 – $549,999 CAD0
$550,000 – $749,999 CAD5
$750,000 – $999,999 CAD1015
$1,000,000+ CAD15

Business Experience:

FactorDescriptionPointsMaximum Points
Entrepreneurial experience4 to 7 years entrepreneurial experience1020
8 or more years entrepreneurial experience15
4 to 7 years entrepreneurial experience with 50%+ ownership in business15
8 or more years entrepreneurial experience with 50%+ ownership in business20
Business revenue $50,000 – $99,999 CAD 5 20
 $100,000 – $249,999 CAD 10
 $250,000 – $499,999 CAD 15
 $500,000 CAD+ 20
 Innovation Previous verifiable experience in: Export Trade 10 10
 Registered patents 10
 Gazelle business 10

 Business Establishment Plan

FactorDescriptionPointsMaximum Points
Investment amount
(Total equity to establish or purchase and expand an eligible business in SK)
$200,000 – $349,999 CAD020
$350,000 – $499,999 CAD5
$500,000 – $749,999 CAD10
$750,000 – $999,999 CAD15
$1,000,000+ CAD20
 Investment in Key Economic Sectors Science and technology 1515
 Manufacturing 15
 Export 15
 Rural business succession 15
Rural business development15

Business Establishment Plan (BEP)

The Business Establishment Plan (BEP) must be clear and wisely and carefully planned to settle and set up a business in Saskatchewan.  It must mention the prospective steps that the candidate will take when they reach the province. These steps must sound promising, and it must be proven that the business satisfies the minimum required investment level, and the candidate will play an active managerial role in the business. The BEP must have the evidence that the applicant has gone through thorough research in the economic, cultural factors, and market related to the prospective business.

Although the candidate can take assistance in making the BEP, it’s very important that the applicant has a deep understanding of their plan. If they are found with incomplete information of their BEP, they will not be regarded eligible, and they will not get the necessary points.

Irrespective of whether the applicant wants to buy an already existing business or set up a new business, the BEP must include the business idea, investment, economic benefit, human capital, and the business relationships.

Business Idea

The business idea part of the Business Establishment Plan must fulfill the following requirements:

  1. It should mention the prospective industry/sector wherein the business will operate. And, it must include the North American Industry Classification System (NAICS) code.
  2. Mentioning every point of the prospective business is a must like the legal name and the trading name of the business (in the business succession case, details of any change the applicant is planning for the business operation (in the business succession case).
  3. It must specify business ownership information like the partnership, proprietorship, franchise, acquisition, and corporation.
  4. It must mention the planned location for the business like city or town.
  5. It has to provide a satisfying market analysis like target markets and main competitors.
  6. Mentioning of the products and services of business is a must.
  7. It must specify the distribution channels that the prospective business will use.
  8. Mentioning the business’ hours of operation must be kept in mind.
  9. If there are any regulations or licences required to operate the business, they must be mentioned.
  10. It is mandatory to be mentioned that how many jobs will be created for the PRs and citizens of Canada living in Saskatchewan.
  11. It must include the complete details of the research conducted to support these plans.

Economic Benefit

This part of the BEP must mention the economic benefit to the community being served like:

  1. Developing new products and services
  2. Adopting and introducing new technology
  3. Increasing exports
  4. Developing innovative methods in the traditional businesses
  5. Providing services and products to an under-served local or regional market
  6. Boosting research and development or technology commercialization
  7. Transferring technology and advanced knowledge to the province

Investment

The investment part of the BEP must include:

  1. The planned investment amount and how it will be spent.
  2. The estimated start-up funds and expenses, including the cash flow projection for the first year of operation.
  3. The financing source for investment (the minimum investment amount must be from the candidate’s own funds).
  4. The credit amount if credit will be needed apart from the investment from the personal resources.

Business Relationships

In this part of the BEP, the applicant must fulfill the following requirements:

  1. They need to provide the name, organizations, phone numbers, mailing addresses, and emails of the contracted professional business service providers whom the candidate has contracted and made an active working relationship or paid contractual agreement with.
  2. Providing the name, organization name, email, mailing address, and telephone number of the individual who helped in the compilation of the BEP.
  3. A detailed description of the individuals contracted or consulted in the making of the BEP.

Human Capital

The last part of the BEP must include the points given below:

  1. The contribution to the management that the applicant has concerning the planned business like the time they will spend in managing or working in the business weekly.
  2. It’s compulsory to include any training or preparation for the entrepreneurship in the province like the course titles and institution names, if applicable.
  3. The educational background of the applicant and how it will affect the planned business idea.
  4. The entrepreneur experience of the applicant and how important it is for the planned business idea.
  5. If the applicant doesn’t have any experience or background related to the business directly, they have to tell how their knowledge and experience will be useful for the business.

Exploratory Visit Report

For every candidate who wants to invest in a business succession opportunity, a joint venture, or a regional business opportunity, an exploratory visit to the Saskatchewan province in compulsory. These candidates have to complete an Exploratory Visit Report that will be submitted with their online application. This report has the necessary details about all the activities that were done by the applicant when they visited the province. The report should have the details of the total length of stay in Canada. It also has the information and details of any other provinces if the applicant has visited.

The Exploratory Visit Report has to include the following:

  1. It should have the name of the professional business service providers or settlement organizations visited in the trip like mailing addresses, emails, and telephone numbers.
  2. It must describe the meeting and activity and how it is relevant to the candidate’s business foundation and management.
  3. The candidate must include the following in this report all airline tickets, boarding passes, and hotel receipts during their entire stay in the country.
  4. They need to include the copies of business cards gathered from related contact and business service providers who were contacted during the visit.
  5. Last but not the least; the report has to mention any visits to the existing business location and meetings with current owners, in the business succession case.

When Are Candidates Ineligible?

A candidate will be deemed ineligible in the following conditions:

  1. They are a refugee claimant in Canada.
  2. The candidate is living illegally in their residency country or Canada.
  3. There has a removal order issued against the applicant by the IRCC or Canada Border Services Agency.
  4. They are not allowed to enter Canada.
  5. If the candidate or any dependent family member who is accompanying or not have a serious medical problem.
  6. The applicant (or any dependent family member over 18, accompanying or not, has a criminal record.
  7. Candidates have any unsolved custody or child support case or disputes that affect any their family member.
  8. They deliberately provide wrong information about them in their application.

Ineligible Businesses:

The following are the Businesses that will be unacceptable for the Saskatchewan Investment Entrepreneur Program:

  1. Property investment, rental, and leasing activities
  2. Real estate development/construction/brokerage, insurance brokerage, or business brokerage
  3. Payday loan, cheque cashing, cash machines, and money changing
  4. Professional services or self-employed business operators demanding licensing or accreditation
  5. Home-based businesses that include bed-and-breakfast and lodging houses
  6. Credit unions
  7. Investments in a business that is operated mainly for deriving passive investment income
  8. Co-operatives

Invitation History

The table provided below shows the history of invitations to apply that were issued under this SINP program:

Expression of Interest (EOI) Selections
January 17, 2018Points RangeTotal Invitation Issued
80 or above251
 October 31, 2017 Points Range Total Invitation Issued
 80-135265
 July 19, 2017 Points Range Total Invitation Issued
 180-145 98
 May 24, 2017 Points Range Total Invitation Issued
 80-140 142
 March 2017 Points RangeTotal Invitation Issued
90-135107
December 2016Points RangeTotal Invitation Issued
120-13014
September 2016Points RangeTotal Invitation Issued
110-13557</

For availing more information about Saskatchewan Investment Entrepreneur Program to get in touch with the Make Visas professionals by calling on the corporate hotline +91-7042184185/Email your queries on info@makevisas.com.

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