Saskatchewan Immigrant Nominee Program (SINP) for Businessmen–A Detailed Look
The much talked about Saskatchewan Immigrant Nominee Programme (SINP) can provide an alternate ways of admission into Canada. The same enables the province to nominate candidates, who meet the requirements under the conditions created by the province, to the federal administration for the prized permanent residency (PR).
Even though there is no deadline to apply to the SINP, the scheme criteria could change minus notice and one’s petition will be reviewed as per the criteria in place at the time the candidate’s complete petition is sent to the concerned body.
If you are motivated to start a business venture in Saskatchewan, then you should surely have in-depth knowledge of Saskatchewan Immigrant Nominee Programme (SINP) for Businessmen. The scheme is designed to draw prospective immigrants, specifically Entrepreneur and Farmers who have the ability to boost the province’s economy and create employment opportunities for its people.
As mentioned before, in return, candidates gets much desired Canadian Permanent Residency (PR) even as the application processing time is much less as compared to any other immigration classes.
Now let’s have an in-depth knowledge of Saskatchewan Immigrant Nominee Program (SINP) for Businessmen which have been sub-classified in two different categories!
- Farmers, and
Eligible candidates, along with their family members get, an opportunity to partner, establish or acquire a business in the province and actively manage the day to day activities. Interested applicants may submit an online application, via Express Entry System.
In order to be selected and approved, the candidate has to meet the following eligibility criteria which are subject to verification:
- The applicant must have a net worth of at least CAD$ $500,000.
- The net worth should have been accumulated through legal means.
- The candidate must have at least three years entrepreneurial experience or have an experience of managing a business of similar
If a candidate is eligible, than he should intend to:
- Make an investment of at-least CAD $300,000–either in Regina and Saskatoon, or
- Should agree to invest at-least CAD $200,000 (CAD) in other Saskatchewan communities.
- Actively lead the day to day business activities.
- Only if applicable, in concern with sector and investment establish a business venture that aligns as per the points assigned in the Entrepreneur Category Points Grid.
- If you wish to establish a business venture, either in Saskatoon or Regina, you should be able to create two fresh jobs (non-relative workers) for Canadian citizens or permanent residence holder in Saskatchewan.
- Make a good day faith deposit of CAD $75,000. You may apply to return your good day deposit, provided you meet the certain criteria.
- Have an active investment of at-least CAD $150,000 in Saskatchewan, if you own not less than one third of the total equity of the business, provided your grand investment is CAD $ 1 million or more.
To be eligible, farm owners must meet the following eligibility criteria:-
- Candidate must provide financial proof that he has a net worth of CAD $ $500,000.
- He must agree to make a ‘Good Faith Deposit’ of at least CAD $75,000 which is refundable once he meets the performance agreement.
- Candidate must have made the comprehensive visit to the province for at least five working days and must have conducted a meeting with the SINP representative.
- He must have prior experience in the relevant field.
Following are the criteria:
- Have a net worth of at-least CAD $300,000.
- At the time of submitting an application you must be below 40 years of age.
- You must have an experience of at least three years in either farm managing, owning or else have practical farming experience.
- You must have submitted a commercial farming proposal that aims to earn at least $10,000 yearly revenue.
- In order to supplement the farming income, you must have market employment skills.
The Citizenship and Immigration Canada (CIC) is the apex Canadian Immigration body and it duly assesses the candidate’s eligibility (or otherwise). Those candidates, who are approved by the SINP, should directly get in touch with the Saskatchewan Immigrant Nominee Programme (SINP) office within 60 days once they have landed in Saskatchewan, either as a permanent resident or a Temporary residence, in order to conduct a meeting.