The Saskatchewan Entrepreneur Stream is for aspiring entrepreneurs who want to establish and run their businesses in the province of Saskatchewan. This program allows applicants to get a nomination from the province of Saskatchewan. Once you receive the nomination you can ultimately apply for permanent residence to the federal government of Canada.
The candidate has to meet certain eligibility requirements to be able to apply for this entrepreneur stream. However, meeting the minimum eligibility criteria does not guarantee the applicant receives an Invitation to Apply. Each candidate gets evaluated through a point-based score system (that goes maximum of up to 160 points). The evaluation depends on multiple factors such as the candidate’s age, education, amount of investment, the business concept plan, etc. The SINP consistently conducts draws, and each candidate that scores 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 time taken for processing is usually longer than the 6-months time period taken under the Express Entry Program.
Once the applicant receives an Invitation to Apply to the Saskatchewan Entrepreneur stream, the following documents need to be submitted:
The applicant needs to pay a non-refundable processing fee of 2,500 CAD for the 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:
Once the candidate submits the complete application and a third-party verification report to the SINP, he shall be issued an Approval Letter and a Temporary Work Permit Support Letter. Nearly 14 weeks is then taken for the issuance of the Provincial Nomination.
Step 1: Submit an Expression of Interest (EOI)
The first step is to indicate an Expression of Interest to work and reside in the province of Saskatchewan by establishing a business there. The candidate needs to submit all the relevant and required details like entrepreneurial experience, investment to be made, net worth of the entrepreneur, a business establishment plan.
The approved candidates who meet the minimum eligibility requirements then shall be accepted into the EOI pool along with other candidates where they are evaluated ranked according to the score-driven point system.
Step 2: Receive an Invitation to Apply
The selected candidates out of the EOI pool are then issued an Invitation to Apply. The top-ranking candidates, based on their evaluation score are given priority for the selection of a formal invite to apply. The next step in the process is to go through the verification process. The candidate then has 20 days to pay a non-refundable fee of $2500 CAD. Then the submit all the supporting documents and a Business Establishment Plan within 90 days. Also, a third-party verification report within 180 days after receiving the invitation to apply.
Step 3: Assessment and Interview
The candidate then has to undergo an interview through video conferencing. The candidate himself has to pay for the interview as the SINP does not bear the interview costs.
Step 4: Sign the Business Performance Agreement
If the interview is processed successfully, the applicant is to sign a Business Performance Agreement. It is a legal document signed by the applicant as per the Government of Saskatchewan and must be submitted within 30 days after successfully completing the process of interview. The BPA contains information like the amount of investment, various timelines of business operation, the number and types of jobs are claimed to be created for Canadian citizens or permanent residents of Canada, and other mandatory business milestones.
Step 5: Receive a Temporary Work Permit (TWP)
The applicant then receives an Approval Letter from SINP Entrepreneur and then applies for a Temporary Work Permit. The TWP allows the entrepreneur to work in Saskatchewan for a period of 2 years while implementing his or her business proposal. After the applicant’s arrival in Canada, he needs to attend a meeting in the province of Saskatchewan within 18 months of receiving the SINP Entrepreneur Approval Letter, or the application shall be permanently closed.
Step 6: Apply for the Provincial Nomination
If the applicant satisfies all the terms 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 period of 6 months.
Step 7: Apply for a Permanent Residence
Once the candidate has complied with all the conditions mentioned in the BPA and is granted a provincial nomination by Saskatchewan, the final step is to apply for permanent residence to IRCC within 6 months of receiving the provincial nomination.