SINP: FAQ: Entrepreneur Category

I wish to immigrate to Canada and am willing to invest in a business in Saskatchewan.  Am I eligible under the SINP’s Entrepreneur category?

Business applicants must first meet the eligibility criteria as set forth by the program and further show that they intend to manage and operate a business in Saskatchewan, not just invest in it, and that they will live in Saskatchewan.  Passive investments (investments in a business without ongoing management responsibilities) are not eligible.  Individuals wishing to immigrate as passive investors may apply under the federal Immigrant Investor Program administered by CIC.

What kinds of businesses are considered under this Program?

We will consider businesses in any sector.  You must however, show through either your Business Proposal or Relocation and Settlement Plan that you have done adequate research to support your decision to invest in the proposed business or that you have put in place adequate support structure to help with your business once you move to Saskatchewan.  In the event that you are submitting a business proposal, you must also include financial projections that are reasonable relative to the industry and to that particular line of business, and that predicts future financial success.

What kind of businesses will not be eligible under this Program?

Although the program offers flexibility in the types of businesses being considered, it is essential that the planned business be an operating entity.  The following businesses will not be considered:

• Passive investments such as loan companies
• Property rental and investment and leasing companies
• Proposals where the applicant invests in the business for a period of time with a return of investment under specified conditions, or where there is not an on-going management role for the applicant.

Can you recommend a business opportunity for me?

No.  However, staff at the Canada Saskatchewan Business Service Centers in Regina and Saskatoon can provide you with referrals to persons or organizations that can help you.  Please refer to http://www.canadabusiness.ca/ for contact information.

Are partnerships or group applications permitted?

Partnerships are permitted.  Group applications are not generally recommended;  however, on a case-by-case basis we will take them under consideration by looking at:  the number of parties involved, the type of business and industry, the number of senior managerial positions that can reasonably be expected to be created, or whether the arrangements overall meet all the criteria and expectations of the intent of our program.

Before making any definite plans to undertake such an arrangement, you should discuss the specifics of the proposal with program staff.

Please note that each individual must qualify for the SINP – Entrepreneur Category on their own merits (individually meet all the eligibility criteria of the program).

Why is a CDN $75,000 deposit required?

Successful provincial nominee Entrepreneur applicants are required to make a CDN $75,000 deposit to ensure that the commitment to establish a business in Saskatchewan is undertaken as planned.

When do I deposit the CDN $75,000 Deposit?

Once we approve your application, we will send you written notification advising you that your application has been approved for nomination.  We will include a copy of the Performance Agreement and request that you make the deposit at that time.

When is the CDN $75,000 Deposit released?

You have two years from the date of becoming a permanent resident to fulfill the requirements of the Performance Agreement.  Once you have demonstrated that you have met the terms of the Performance Agreement, your CDN $75,000 deposit and any interest earned will be returned to you.

To ensure that you remain eligible for the refund, any changes to the Performance Agreement must be discussed with and approved by the Immigration Branch before proceeding with your business.

Do I have to wait the full 2 years from the date of becoming a permanent resident before my deposit will be returned to me?

As soon as you can prove, within the two years from the date of becoming a permanent resident, that you have fulfilled the requirements of the Performance Agreement, we will begin the process to refund your deposit.  For example, if you can prove within one year after your date of becoming a permanent resident that you have fulfilled the requirements of the Performance Agreement, we will refund the deposit to you at that time.

Will I get my Deposit back if my business fails?

If you can prove that you had fulfilled the requirements of the Performance Agreement prior to the failure of your business, and that you made every reasonable attempt to ensure the business’ success, you will still get your deposit back.

We strongly encourage you to contact the Immigration Branch for counselling and guidance as soon as you think you may have trouble fulfilling your business proposal.