Under the new Saskatchewan business immigration regulations, entrepreneurs under the Saskatchewan Immigrant Nominee Program (SINP) can establish businesses in a diverse range of economic sectors. This represents a significant shift in the Saskatchewan government's approach compared to other business immigration categories that are restricted to specific sectors such as agriculture and energy.
This major change to the Saskatchewan Entrepreneur Program incorporates lessons from the British Columbia business model (work permit first, then immigration) and the Manitoba business immigration model (Expression of Interest/EOI system), while retaining Saskatchewan's own practice of using third-party agencies to verify applicants' assets and sources of funds. The objective is to attract applicants who are genuinely willing to conduct business and reside in Saskatchewan and who have a high probability of success. Although there have been significant adjustments to the application requirements and selection model, given the current appeal of Saskatchewan's sustained economic development and the overall tightening of Canadian immigration programs, it is believed that this program will continue to attract a considerable number of applicants.
The Saskatchewan Entrepreneur Program requires applicants to invest at least 300,000 CAD in Saskatoon or Regina, or at least 200,000 CAD in other regions of Saskatchewan. For investments in Regina or Saskatoon, the applicant must create at least two employment opportunities for Canadian citizens or permanent residents (excluding relatives).
The Saskatchewan Entrepreneur Program has specific regulations regarding eligible investments; investments in residential property rentals, real estate, cooperatives, as well as certain certified professional services or sole proprietorships are not permitted.
Eligible businesses include:
1. The business may be a sole proprietorship or a partnership, provided that the business operations comply with legal requirements.
2. The business must have profit as its primary objective, with profits generated through the sale of goods or services.
3. The business must be a going concern.
4. The operator must reside in Saskatchewan and participate in the daily management of the business.
Ineligible businesses include:
1. Residential property rentals, investments; real estate construction/development/brokerage, insurance brokerage, or business brokerage;
2. Professional services or sole proprietorships that require licensing or certification;
3. Payday loan services, cheque cashing, currency exchange, and automated teller machines (ATMs);
4. Credit unions;
5. Home-based businesses, including bed and breakfast establishments;
6. Cooperatives;
7. Businesses that primarily generate passive investment income.