Saskatchewan is streamlining rules for entrepreneurs who want to immigrate to the province.
According to Jeremy Harrison, the minister for immigration, jobs, skills and training, changes to the entrepreneur and farm category under the Saskatchewan Immigrant Nominee Program will speed up applications.
The five streams included in the category are to be collapsed into two, which will have new eligibility requirements. Applications will be made online and the point system will give more weight to certain qualities, including proven entrepreneurial experience and net worth.
The government is also removing the need for a $75,000 good-faith deposit, allowing funds to go towards settlement and startup costs instead.
Mid-range net worth individuals with suitable entrepreneurial experience may be eligible to apply under the one of many Provincial Entrepreneur programs. Currently, entrepreneur programs are administered by individual provinces and follow a two-step process to permanent residence. Applicants are first selected or nominated by a province if they meet program requirements. Based on that selection or nomination, they may then apply to Citizenship and Immigration Canada for permanent residence.
There are a number of provinces which manage their own business immigration programs which require active participation in the management of a business based on a specified investment and job creation. The programs vary in the requirements to qualify but generally refer to a minimum net worth in the area of $350,000 with relevant management experience. Some of the programs require a good will deposit which is refundable once the business has been established. Under provincial nominee programs, applicants first apply to be nominated by a province, and on the basis of that nomination may obtain permanent residence following Federal health and criminality checks.
|New Brunswick||Prince Edward Island|
British Columbia’s Provincial Nominee Program has three streams aimed at entrepreneurs with distinct requirements. Net worth requirements range from $400,000 to $800,000 CAD and investment requirements from $200,000 to $500,000 CAD. Unlike other entrepreneur immigration programs, British Columbia first supports applicants in the issuance of a Work Permit. The province will only nominate an applicant for permanent residence once they have successfully established and operated the intended business while in Canada as a work permit holder. Read more >>
- Expression of interest
- Invitation to submit application
The expression of interest must meet the following minimum entry requirements:
- Minimum net worth of $500,000 legally acquired.
- Minimum of three years of entrepreneurial or relevant management experience.
- Investment of at least $300,000 in Regina or Saskatoon, or $200,000 is any other Saskatchewan area.
Candidates enter a pool where they receive a score. The top scoring candidates are invited to submit an application.
Applications must include:
- Business Establishment Plan confirming figures in expression of interest, and including at least one third ownership of a company in Saskatchewan, unless investment is $1 million or higher.
- Commitment to be active in day-to-day management of business.
- Creation of two or more jobs for Canadian citizens or permanent residents if the business is located in Regina or Saskatoon. Read more >>
The Manitoba Provincial Nominee Program for Business nominates applicants who have a minimum net worth of $350,000 CAD, three years of business ownership and management experience or senior managerial experience and who score a sufficient number of points according to an adaptability matrix which takes into account such factors as age, business experience, financial resources, language abilities, and ties to the province of Manitoba. Successful applicants must make an investment into a Manitoba business of at least $150,000 CAD and provide active management. Applicants must first make an “Expression of Interest” submission to the province wherein they provide their profile without supporting documentation. The top “Expression of Interest” profiles will be invited to make a full application to the business program. Successful applicants will be required to make a $100,000 CAD deposit with the province upon nomination, which is returned if they meet certain conditions, which include making the required investment into the province and demonstrating active management of the business. Read more >>
The government of Ontario has authority to nominate certain applicants for Canadian permanent residence under the Ontario Immigrant Nominee Program (OINP). Individuals with a nomination certificate issued by the province may apply for Canadian permanent residence.
Ontario Business Immigration program has two immigration programs directed to applicants with a successful business background. The programs are (click to read more):
The primary requirements are:
- Legally-acquired personal net worth of at least $600,000, of which $300,000 must be available in available in unencumbered liquidity.
- Invest at least $250,000 in a New Brunswick business, taking ownership of at least 33 per cent.
- Show business experience – either three years of ownership or five years of senior management experience in the last five years.
- Be aged between 22 and 55.
- Minimum two years post-secondary education degree or diploma.
- Score at least level 5 on the Canadian Language Benchmark exam for speaking, listening, reading and writing in English or French.
The Prince Edward Island Provincial Nominee Program for Business requires that applicants demonstrate a legitimately acquired personal net worth of at least $600,000 CAD, have relevant business experience, and make an active investment into a local business of at least $150,000 CAD. Age, language and educational requirements are also applicable. Successful candidates will be required to make a deposit with the province of $200,000 CAD upon nomination which will be returned in installments as various conditions are met. Read more >>
The North West Territories’ Entrepreneur Program requires applicants to demonstrate a minimum personal net worth of $250,000 CAD, have relevant managerial experience, and make an active investment of at least $150,000 CAD into a local business. As in other entrepreneur programs, a refundable good faith deposit of $75,000 CAD is required from successful applicants. Read more >>
Yukon’s Business Nominee program first nominates successful applicants for a two year work permit. During the validity period of the work permit, applicants are required to establish their intended business in the Yukon. Only then are they nominated for permanent residence. Successfully applicants must demonstrate a legally acquired personal net worth of $250,000 CAD, have relevant business management experience, and make an active investment of at least $150,000 into a local business. Applicants are also evaluated based on factors such as age, language abilities, education, and prior visits to the Yukon. Read more >>
Interested readers are invited to complete our Free Assessment to determine whether they qualify for immigration to Canada as an Investor or Entrepreneur.
The recently re-vamped entrepreneur immigration program is getting another boost, as Ottawa has announced plans to include mentorship in the program.
The new start up visa program, launched earlier this year, will now offer newcomers the chance to partner with Canadian “business incubators,” which will offer guidance throughout the start-up process.
“Connecting immigrant entrepreneurs with Canada’s accredited business incubators will broaden our respective networks and bring us all to the next level,” said David McNamara, president of the Canadian Association of Business Incubators.
The CABI will work with the Department of Immigration to pair up potential immigrant entrepreneurs with appropriate incubator programs, depending on where they wish to go in Canada and which industry they are targeting.
The Department of Immigration has also indicated that they are working on further partnerships to incorporate into the start up visa program as incentive to attract young entrepreneurs in the competitive global market.
“As part of our government’s focus on jobs, growth and long-term prosperity, it is critical for Canada to attract the best entrepreneurs and innovators from around the world,” said Immigration Minister Chris Alexander upon announcing the new partnership.
Source: National Post