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.
This entrepreneur stream has eligibility requirements. However, meeting the minimum eligibility requirements does not guarantee an applicant receive an Invitation to Apply. 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.
Once the applicant receives an Invitation to Submit an Application to the Entrepreneur stream through the SINP profile, the following documents need to be submitted:
There is a non-refundable processing fee of 2,500 CAD for Saskatchewan Entrepreneur stream.
As per the latest estimates from January 1 to March 31, 2021, an entrepreneur stream application is processed by the SINP within:
Step 1: Submit an Expression of Interest (EOI) to the SINP
The candidates should first and foremost indicate their interest in working and residing in Saskatchewan by operating a business in the province. This step includes providing all the necessary information about their entrepreneurial experience, net worth, and Business Establishment Plan (BEP) through an online survey. The approved candidates who meet the minimum eligibility criteria shall be accepted into the EOI pool along with other candidates where they are ranked according to the score driven point system.
Step 2: Invitation to Apply
Once the candidates under the Entrepreneur SINP immigration sub-category are selected from the EOI pool based on their score, the top scoring applicants are prioritized for selection and receive a formal invitation to apply for an application submission. The candidates then have to undergo a verification process. After receiving an invite, the applicants have 20 days to pay a non-refundable fee of $2500 CAD. Along with the application fees, all the supporting documents and a Business Establishment Plan should be submitted within 90 days of receiving the invitation. The candidates have 180 days to submit a third-party verification report since receiving the invitation.
Step 3: Assessment and Interview
The assessment stage includes an in-person interview or through a web-based video conferencing. The costs related to this interview are not paid by the SINP, but by the candidate himself.
Step 4: Sign the Business Performance Agreement
If the interview of the candidate is successfully conducted, then they sign a Business Performance. This is a legal agreement signed with the Government of Saskatchewan and must be submitted within 30 days of receiving the receipt. The agreement states important factors like investment amount, business operation timelines, number and types of jobs to be created for Canadian citizens or permanent residents of Canada and other mandatory business milestones.
Step 5: Receive a Temporary Work Permit (TWP)
After receiving the SINP Entrepreneur Approval Letter, the applicant applies for a Temporary Work Permit. The two-year temporary work permit allows the candidate to reside and work legally in Saskatchewan while he or she implements the business proposal. On arriving in Canada, the applicant needs to attend a meeting in Saskatchewan within 18 months of receiving the SINP Entrepreneur Approval Letter, or the application shall be closed.
Step 6: Apply for the Provincial Nomination
If the applicant satisfies all the conditions of the Business Performance Agreement, he/she can apply to be nominated by the SINP. In order to pass this the candidate needs to transfer the required funds in Canada, maintain all the legal requirements and operate the proposed business according to the BPA for a minimum of 6 months.
Step 7: Apply for a Permanent Residence
Once the candidate has complied with all the terms and conditions mentioned in the BPA and is granted a nomination, the final step for all applicants shall be to apply for permanent residence to IRCC within 6 months of receiving the provincial nomination.