Renowned Hollywood director James Cameron appeared on Monday in the small town of Skokie, southwest of Saskatoon, Canada, announcing that he and his wife would establish Verdient Foods to develop a pea processing plant. Once completed, the plant is expected to process 160,000 tons of organic peas. He stated that once operational, this facility will become the largest organic pea processing base in North America.
Even James Cameron, the renowned director of top Hollywood blockbusters like Titanic and Avatar, has invested in Saskatchewan, Canada. What is the charm of this magical province? Let's find out together.
Fertile Land
Saskatchewan is one of Canada's three prairie provinces, possessing vast and fertile land. Apart from the deep boreal forests in the north, most of the region consists of fertile farmland. Nearly half of Canada's arable land is located in this province, making Saskatchewan a true agricultural powerhouse, often referred to as the "Land of Abundance" and the "Breadbasket of Canada." Currently, Saskatchewan's agriculture is attracting the attention of many Chinese immigrants, and many new immigrants are investing in large tracts of farmland to become farm owners.
Unlimited Future Economic Prospects
Saskatchewan is located in the western region of Canada, which has the fastest economic growth. Its GDP growth rate has consistently been higher than the national average for over a decade. In the last three years, its annual GDP growth rate has ranked second or third among all ten Canadian provinces. Unlike its neighbor to the west, Alberta, which relies heavily on the oil economy, Saskatchewan has a resilient economic structure supported by multiple pillars including mining, energy, agriculture, technology, and forestry. Saskatchewan is also one of the regions with the highest concentration of high-tech industries in Canada. Saskatoon is known as Canada's "Science City" and "Biotech Capital," and the power of technology provides a continuous driving force for Saskatchewan's ongoing economic development.
Low Cost of Living, Affordable Housing, and Low Business Costs
Saskatchewan is one of the most affordable places to live in Canada, with housing prices more than 30% lower than in Toronto. In addition, Saskatchewan has some of the lowest costs in Canada for auto insurance, medical insurance (free), and university tuition.
A world-renowned accounting and consulting firm published an WorldWay cost guide, which ranked Saskatoon and Regina 21st and 28th, respectively, among 98 surveyed cities in North America for lowest costs. This survey examined various factors closely related to investment, such as labor, taxes, transportation, and interest costs.
Sound Public Healthcare and Education Systems
As is well known, sound healthcare and education systems have always been one of the important reasons why Canada attracts talent from all over the world. As the birthplace of Canada's public healthcare system, Saskatchewan offers the most comprehensive public medical coverage for its residents in the country.
The University of Saskatchewan, located in the province's largest city, Saskatoon, is one of Canada's top ten universities and the alma mater of two Nobel laureates, as well as a former Prime Minister and Governor General of Canada. The University of Regina, located in the provincial capital of Regina, is also one of Canada's well-known comprehensive universities.
Opening Arms to Welcome New Immigrants from Around the World
Due to the strong drive of its economic engine over the past decade, Saskatchewan's population growth has not been sufficient to support its economic expansion. With the support of the Canadian federal government, Saskatchewan introduces global investors to the province through its investment immigration program. Because of the many advantages of the Saskatchewan investment immigration program, such as low investment amounts, low thresholds, significantly reduced EOI scores, and high application success rates, it has attracted a large amount of immigrant investment and is now one of the hottest immigration programs in Canada.
As one of the few convenient pathways for immigrating to Canada, the EOI selection system scores for the Saskatchewan investment immigration program have continued to drop significantly this year. After two consecutive decreases, the minimum EOI score has dropped from the previous peak of 120 points to 80 points. Consequently, applications have seen a massive surge, with the number of selected candidates increasing tenfold from 14 to 142 in May. In the latest EOI selection in July, the minimum score remained at 80 points, with an average score of 100 points. (See chart below)
Historical Score Summary
(Important Note: The dates for the next two EOI selections have been set for October 18, 2017, and January 17, 2018. Interested clients, please contact Worldway as soon as possible to assist you in applying for a visa to visit Saskatchewan for an inspection.)
Worldway immigration experts state that the threshold for Saskatchewan investment immigration continues to lower, with increasingly lower requirements for investors' education and language proficiency. This extends an olive branch to more investors, especially for small and medium-sized entrepreneurs, as now is undoubtedly a great time to apply for Saskatchewan investment immigration in Canada.