Saskatchewan Immigrationfor Entrepreneurs (Residence Visa for Business people)
The SINP Entrepreneur Program was designed for business applicants who have a minimum net worth of $300,000 Canadian Dollars (CAD) and are willing to create, acquire, or partner a business in Saskatchewan. These individuals and their families will be granted a permanent residence visa if they comply with Saskatchewan’s requirements. Nomination Requirements
There are five basic requirements of the SINP Entrepreneur Category, that an applicant must satisfy in order to be approved for nomination.
- A minimum net worth of $300,000 (CAD). Applicants must be able to demonstrate the existence of this net worth (property, cash, vehicles etc.)
- Must be able to show that the net worth was acquired through legal activity
- A minimum of three years entrepreneurial or relevant business management experience.
- You must show the intention to live and actively invest in Saskatchewan.
- A business plan must be prepared as part of the application.
Once approved for nomination, you will be required to:
- Make an investment of $150,000 CAD in the Province of Saskatchewan. This can be achieved through establishing a new business or investing in an existing one. If you choose invest in an existing business but own less than 1/3 of it, then your total investment must be worth at least $1 million CAD.
- Applicant must be actively involved in the day-to-day running of the business. Make a $75,000 CAD good faith deposit. Upon applying to the SINP you must make an initial deposit of $2,500 CAD. Once you receive nomination by the province for permanent residence, you will then deposit an additional $72,500 CAD. If you meet the province’s requirements, you may apply for your good faith deposit to be returned within 2 years.