Saskatchewan Immigration Nominee Program (SINP) – Entrepreneur and Farm Category
“Important Notice: The Entrepreneur and Farm Category is currently under review and will therefore not be accepting new applicants at this time. Application acceptance will commence once the review has been finalized in 2014. The two appointed third party financial service providers, KPMG and MNP Ltd, will be assessing the net worth and legal accumulation of net worth criteria required among all applicants to this program. “
The SINP Entrepreneur Program is established to give you and your family the opportunity to establish, acquire or partner in a business located in Saskatchewan while being involved in the management process.
Applicants are welcome to apply through the following methods:
- Large Scale Investor: Investors who are interested in financing $10 million CDN or more in the province of Saskatchewan (applicants of the Large Scale Investor Stream will be given priority processing).
- Science and Technology: Patent or innovate IT idea owners who would like to commercialize their product through active investment in Saskatchewan or for those intending to invest in a partnership with a current science and technology based firm in Saskatchewan
In order to be nominated and be regarded as an Entrepreneur, applicants must:
- Have a net worth of at least $300,000.
- Acquired 3 years of relevant entrepreneurial or business management experience.
- Must reside and actively invest in Saskatchewan.
If you do possess the previously noted characteristics, Entrepreneurs are required to:
- Activiely invest a minimum of $150,000 CDN within Saskatchewen. If the entrepreneur owns less than one third of the business, his or her total investment must be worth at least $1 million CDN
- Must be involved actively involved in managing the business
- Make a $75,000 CDN good faith deposit that will be paid in the manner: 1. An initial deposit of $2,500 CDN must be made when submitting the application to the SINP; 2.The remaining $72,500 CDN will be deposited once the applicant is nominated for Permanent Residency. (Note: Applicants will be able to apply to have their good faith deposit returned once he or she meets all existing criteria)
The Farm Owner/Operator
The following category is designed for applicants who have previously acquired experience in farming and have sufficient financial capital necessary to invest in a farming operation or for those who are interested in purchasing an existing farming operation in Saskatchewan.
- Must have a net worth of at least $500,000 CDN
- Undergo a comprehensive exploratory visit to Saskatchewan for a minimum of five working days and meet with an SINP representative during the duration of the visit
- Sign a Performance Agreement that shows the applicant’s commitment to purchase a farm operation in Saskatchewan and to provide a good faith deposit of $75,000 CDN. This deposit will be returned once he or she meets the criteria of the Performance Agreement. However, the deposit will be forfeited to Saskatchewan if the terms of the agreement are not met within two years of the initial arrival in the province
The farm owner/operator option is limited to proprietary businesses that are based on primary agricultural production. However, agri-business operations may be eligible if applied under the Entrepreneur category of the SINP.
Young Farmer Stream of the Farm Owner/Operator Category:
The objective of the Young Farmer stream under the Farm Owner/Operation category is to give young families an opportunity to establish their livelihoods and farming operations in Saskatchewan’s rural areas. Please see below for the program’s qualifications.
- Must have legally acquired a minimum personal net worth of $300,000 CDN
- Must be under the age of 40
- At least 3 years of previous experience in farm ownership, farm management or practical farming skills
- Present a comprehensive business proposal based on the commercial farming opportunity to be executed in Saskatchewan that includes relevant research, consultation or formal coursework regarding the province’s agricultural environment
- Invest a minimum of $150,000 in equity of a new or existing farming operation based in Saskatchewan in the form of either capital assets (machinery, land) or working capital
- Submit a refundable deposit of $75,000 CDN to the Saskatchewan Entrepreneur Trust Fund (first $2,500 will be paid once application has been accepted and the remaining $72,500 to be deposited one applicant is nominated for permanent residency)
- Must have sufficient employability as a result of education and experience necessary to support your livelihood in the farming industry
To find out about your eligibility, please contact one of our immigration specialists.
- Phone: +1 (604) 636 – 4618
- Email: firstname.lastname@example.org
- or take a Free Online Assessment through our website, we will contact you within 24 hours upon your request!