The Saskatchewan Immigrant Nominee Program (SINP) Entrepreneur Category allows applicants to build, acquire or be a partner in an active business in Saskatchewan.
SINP Entrepreneur Category Nomination Process
Here is a step by step Sinp entrepreneur application guide.
Step 1: Submit an Expression of Interest (EOI) to the SINP
Candidates who want to operate a business in the province have to provide information about their entrepreneurial experience, funds and Business Establishment Plan, among other factors, in an online survey. And, candidates who meet this eligibility criteria get into the EOI candidate pool where they are given score on the selection factors avaialble on the points system.
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
Candidates who meet the Business Performance Agreement are eligible to apply for provincial nomination by the SINP for permanent residence.
Have a net worth of atleast $500,000 CAD, verified by a third party that has been approved by the ministry.
Have acquired the Net worth through legal means, verified by a third party that has been approved by the ministry.
Have a minimum of 3 years of entrepreneurial experience from the past 10 years
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.
Should be able to show that they possess the In-depth knowledge of the Business Establishment Plan (BEP) that they have submitted.
Own atleast one-third of the equity they have submitted (33.33 percent) unless their total investment amounts upto $1,000,000 or higher.
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.
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.
Be a resident of Saskatchewan along with their dependant family members.
Sign an agreement of business performance with the government of Saskatchewan, which will be provided by the SINP once the application is approved.
Requirements for a business to be considered eligible under the SINP Entrepreneur Program:
The business is economically benefical to Saskatchewan as per assessment done by an immigration officer.
The business can be a sole-proprietorship, partnership, or Corporation but it has to meet the legal requirements of the region where it operates in.
The main purpose of the business is to earn profits through the sale of goods and services.
It should be considered a “permanent establishment” as per 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:
The business should be running countinuosly from the past three years by the same owner.
The applicant have to meet the previous onwer(s) and place, as well.
You should make reasonable efforts to establish your business in the market.
Your business should be a source of employment opportunities for citizens of Canada or pr holders and you have to mainatin existing wages and employment terms.
If you are puchasing an existing business in Saskatchewan from an SINP Entrepreneur Nominee, you should meet the following requirements:
The business should be running countinuosly from the past three years by the same owner.
It should show profit at least for two out of three years.
The last owner should be a Canadian Citizen or a permanent resident.
The applicant have to visit the place to meet the current owners.
Efforts should be made to establish a fair market value for the business.
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.
The applicant should commit to creating jobs for Canadian citizens or permanent residents.
Requirements for Joint Ventures between SINP Program:
If the applicant wants to go for a Joint Venture with another SINP applicant to build a new business, the following requirements should be met:
The business should have been in operation from the past 3 years by the same owner.
Applicant should visit the place and meet with the business partners.
Efforts should be made to have a fair market value for the business or the investment amount.
In case of continuation a complete change in the ownership can also take place, in which the applicant assume full control of the business.
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.
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.
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 system. 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.
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:
Human Capital
Business Experience
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.
Has conducted an exploratory visit to Saskatchewan for at least five working days with evidence of contact with relevant business contacts.
15
15
Official Language Ability (English or French)
No language test
0
Canadian Language Benchmark (CLB) 4
5
CLB 5
10
15
CLB 6+
15
Qualifications/Education
Has a trade or occupational certification that required at least one year full-time post-secondary training or apprenticeship equivalent
10
15
Has completed a Bachelor Degree or Post-Graduate Degree/Designation in a Business, Agriculture, or Science/Technology field
15
Net Business and Personal Assets
$500,000 – $549,999 CAD
0
$550,000 – $749,999 CAD
5
$750,000 – $999,999 CAD
10
15
$1,000,000+ CAD
15
Business Experience:
Factor
Description
Points
Maximum Points
Entrepreneurial experience
4 to 7 years entrepreneurial experience
10
20
8 or more years entrepreneurial experience
15
4 to 7 years entrepreneurial experience with 50%+ ownership in business
15
8 or more years entrepreneurial experience with 50%+ ownership in business
20
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
Factor
Description
Points
Maximum Points
Investment amount
(Total equity to establish or purchase and expand an eligible business in SK)
$200,000 – $349,999 CAD
0
20
$350,000 – $499,999 CAD
5
$500,000 – $749,999 CAD
10
$750,000 – $999,999 CAD
15
$1,000,000+ CAD
20
Investment in Key Economic Sectors
Science and technology
15
15
Manufacturing
15
Export
15
Rural business succession
15
Rural business development
15
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:
It should mention the prospective industry/sector wherein the business will operate. And, it must include the North American Industry Classification System (NAICS) code.
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).
It must specify business ownership information like the partnership, proprietorship, franchise, acquisition, and corporation.
It must mention the planned location for the business like city or town.
It has to provide a satisfying market analysis like target markets and main competitors.
Mentioning of the products and services of business is a must.
It must specify the distribution channels that the prospective business will use.
Mentioning the business’ hours of operation must be kept in mind.
If there are any regulations or licences required to operate the business, they must be mentioned.
It is mandatory to be mentioned that how many jobs will be created for the PRs and citizens of Canada living in Saskatchewan.
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:
Developing new products and services
Adopting and introducing new technology
Increasing exports
Developing innovative methods in the traditional businesses
Providing services and products to an under-served local or regional market
Boosting research and development or technology commercialization
Transferring technology and advanced knowledge to the province
Investment
The investment part of the BEP must include:
The planned investment amount and how it will be spent.
The estimated start-up funds and expenses, including the cash flow projection for the first year of operation.
The financing source for investment (the minimum investment amount must be from the candidate’s own funds).
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:
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.
Providing the name, organization name, email, mailing address, and telephone number of the individual who helped in the compilation of the BEP.
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:
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.
It’s compulsory to include any training or preparation for the entrepreneurship in the province like the course titles and institution names, if applicable.
The educational background of the applicant and how it will affect the planned business idea.
The entrepreneur experience of the applicant and how important it is for the planned business idea.
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:
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.
It must describe the meeting and activity and how it is relevant to the candidate’s business foundation and management.
The candidate must include the following in this report all airline tickets, boarding passes, and hotel receipts during their entire stay in the country.
They need to include the copies of business cards gathered from related contact and business service providers who were contacted during the visit.
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:
They are a refugee claimant in Canada.
The candidate is living illegally in their residency country or Canada.
There has a removal order issued against the applicant by the IRCC or Canada Border Services Agency.
They are not allowed to enter Canada.
If the candidate or any dependent family member who is accompanying or not have a serious medical problem.
The applicant (or any dependent family member over 18, accompanying or not, has a criminal record.
Candidates have any unsolved custody or child support case or disputes that affect any their family member.
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:
Property investment, rental, and leasing activities
Real estate development/construction/brokerage, insurance brokerage, or business brokerage
Payday loan, cheque cashing, cash machines, and money changing
Professional services or self-employed business operators demanding licensing or accreditation
Home-based businesses that include bed-and-breakfast and lodging houses
Credit unions
Investments in a business that is operated mainly for deriving passive investment income
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
May 2, 2019
Points Range
Total Invitation Issued
120-135
43
March 7, 2018
Points Range
Total Invitation Issued
120-140
39
January 3, 2019
Points Range
Total Invitation Issued
115-150
90
November 21, 2018
Points Range
Total Invitation Issued
115-135
84
Septemebr 19, 2018
Points Range
Total Invitation Issued
110-135
71
July 18, 2018
Points Range
Total Invitation Issued
100-135
187
April 18, 2018
Points Range
Total Invitation Issued
90-135
231
January 17, 2018
Points Range
Total Invitation Issued
80-145
251
October 31, 2017
Points Range
Total Invitation Issued
80-135
265
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 Range
Total Invitation Issued
90-135
107
December 2016
Points Range
Total Invitation Issued
120-130
14
September 2016
Points Range
Total Invitation Issued
110-135
57
For availing more information about Saskatchewan Entrepreneur Program to get in touch with the Make Visas professionals by calling on the corporate hotline +919625212959 Email your queries on info@makevisas.com.
