Minimum Requirements for Applicants

In order to be considered eligible under the Entrepreneur Category, applicants must:

• Meet the minimum entry criteria to submit an EOI to the SINP:
  • A minimum net worth of $500,000 CAD, verified by a Ministry-approved professional third party;
  • Accumulation of net worth through legal means, verified to at least 80 percent by a Ministry-approved professional third party;
  • At least three years of entrepreneurial experience within the past 10 years; and
  • A minimum equity investment of $300,000 CAD in Regina or Saskatoon, or a minimum of $200,000 CAD in any other Saskatchewan community.
• Have and be able to demonstrate an in-depth knowledge of their Business Establishment Plan (BEP);
• Own at least one-third (33.33 percent) of the equity of a business in Saskatchewan unless their total investment is $1,000,000 CAD or higher;
• Create or maintain a minimum of two jobs for Canadian citizens or Permanent Residents in Saskatchewan (non-relative workers) if establishing a new business in Saskatoon or Regina;
• If purchasing an existing business in Saskatoon or Regina, the applicant must maintain the business’ staffing complement (the number of Canadian or permanent resident workers) in place at the time of purchase.
• Reside in Saskatchewan with their dependent family members; and
• Sign a business performance agreement with the Government of Saskatchewan, which will be provided by the SINP after the application is approved.

Minimum Requirements for Businesses

For a business to be considered eligible under this category, all of the following criteria must be met:

• The business must have the potential for creating economic benefit to Saskatchewan, as assessed by SINP immigration officer;
• The business can be a Sole Proprietorship, Partnership, or Corporation, but must meet the legal requirements of the community in which it operates;
• The business must be a for-profit entity with the primary purpose of earning profits through the sale of goods and/or services; and
• The business must be considered a “permanent establishment” as defined under subsection 400(2) of the Canadian Income Tax Regulations, 1985.

Additional Requirements for Business Succession

If purchasing a previously existing Saskatchewan business, the following requirements must be met:

• The business must have been in continuous operation by the same owner for the past three years;
• The applicant must complete an exploratory visit to meet the previous owner(s);
• Reasonable efforts must be taken to establish a fair market value for the business;
• There must be a complete change in ownership where the applicant assumes full control of the business; and
• The applicant must commit to maintaining employment for existing Canadian citizens or permanent residents above the minimum required, as well as maintaining existing wages and employment terms.

If purchasing a previously existing Saskatchewan business from an SINP Entrepreneur Nominee, the following requirements must be met:

• The business must have been in continuous operation by the previous owner for at least three years;
• The business must demonstrate a net profit for at least two of the previous three years;
• The previous owner must be either a Permanent Resident or a Canadian Citizen;
• The applicant must complete an exploratory visit to meet the current owner(s);
• Reasonable efforts must be taken to establish a fair market value for the business;
• There must be a complete change in ownership where the applicant assumed full control of the business; and
• The applicant must commit to maintaining employment for existing Canadian citizens or permanent residents.

Additional Requirements for Joint Ventures between SINP Program Applicants

If proposing a joint venture with another SINP applicant in the operation of a new business, the purchase of an existing business, or a partnership with a Permanent Resident or Canadian Citizen, the following requirements must be met:

• The business must have been in continuous operation by the same owner for the past three years;
• Applicants must complete an exploratory visit to meet the previous owner(s) or business partner(s);
• Reasonable efforts must be taken to establish a fair market value for the business or investment
amount;
• Any succession must result in a complete change in ownership where the applicants assume full control of the business;
• Applicants must maintain employment for existing Canadian citizens or permanent residents;
  • Applicants are not required to create additional jobs.
• Applicants must clearly indicate in their application form that they are proposing a joint venture with a program applicant or a permanent resident or Canadian citizen, and identify their proposed business partners;
• Each prospective applicant must submit their individual EOI simultaneously;

NOTE: Each prospective applicant in a joint venture application will be evaluated individually. Selection from the EOI pool for processing will depend on their individual abilities to meet eligibility criteria and earn points. If a partner is not selected from the pool, all other partners must update their business proposal in order to remain eligible for the EOI points previously earned. If all partners are selected from the pool and approved, each will sign a separate Business Performance Agreement, and each partner must meet the terms of his/her agreement to be nominated. If one or more partners fail to meet the terms of their Business Performance Agreement, all remaining partners must update their performance agreements to ensure they continue to meet program criteria.

Minimum Investment Requirements

An investment will be considered eligible if it is essential to the establishment and operation a new business, or to the purchase, improvement and operation of an existing business. Some investments may considered eligible within limitations.

The Business Establishment Plan (BEP) must be a coherent and well-thought-out plan for successful settlement and business development in Saskatchewan. The plan should outline the steps that the applicant will take to ensure that the business has a reasonable chance of success and can be implemented upon arrival. Additionally, it should demonstrate that the business meets the minimum required investment level and that the applicant will hold an active managerial position in the business. The BEP should show that the candidate has conducted extensive research into the economic, market, and cultural factors relevant to the proposed business.

A third party may help the applicant develop the BEP, however, it is crucial that the applicant has complete knowledge and understanding of his or her plan. In the event that the applicant is unaware of the BEP’s contents, he or she may be deemed ineligible and the points for the BEP on his or her EOI may not be awarded.

Regardless of whether the candidate intends to purchase an existing business or establish a new one, the BEP must touch on all of the following topics: the business idea, economic benefit, investment, business relationships, and human capital.

Business Idea

The business idea section of the Business Establishment Plan must:

• Specify the proposed industry/sector in which the business will operate; Include the North American Industry Classification System (NAICS) Code;
• Provide a description of the proposed business, including:
  • The legal name and the trading name of the business (in the case of business succession),
  • Details of any changes the candidate is considering making to the business operation (in the case of business succession).
• Include business ownership information – partnership, proprietorship, corporation, franchise, acquisition;
• Specify the proposed location for the business (city or town);
• Provide a market analysis;
  • Target market(s)? Suppliers? Major competitors?
• Specify which products and/or services the business will offer;
• Specify which distribution channels the business will use;
• Specify the business' hours of operation;
• Specofy any regulations or licenses required to operate the business;
• Specify the number of jobs to be created for Canadians or Permanent Residents living in Saskatchewan; and
• Include full details of research undertaken to support these plans.

Economic Benefit

This section of the BEP must describe the economic benefit to the community being served, such as:

• Adopting and introducing new technology;
• Developing new products or services;
• Developing innovative approaches to traditional businesses;
• Increasing exports;
• Increasing research and development or technology commercialization;
• Providing products or services to an under-served local or regional market; and/or
• Transferring technology and specialized knowledge to Saskatchewan.

Investment

The investment section of the BEP should include:

• The proposed investment amount, including how the money will be spent;
• The fore-casted start-up funds and expenses, including a cash flow projection for the first year of operation;
• The source of financing for investment (the minimum investment amount must come from the applicant's own funds); and
• The amount of credit if credit will be required in addition to investment from personal resources.

Business Relationships

In this section of the BEP, the candidate should provide:

• The name, organisations, mailing addresses, phone numbers, and emails of contracted professional business service providers who the applicant has contacted and/or has established an active working relationship or paid contractual agreement with;
• The name, organization name, mailing address, email and telephone number of the person who compiled or assisted in the compilation of the BEP; and
• A summary of people contracted or consulted in preparation of the BEP.

Human Capital

This final section of the plan should include:

• The management contribution the candidate will make with respect to the proposed business, including an estimate of the hours he or she will spend managing and/or working in the business on a weekly basis;
• Any preparation and training for entrepreneurship in Saskatchewan (including course titles and institution names, if applicable);
• The candidate's educational background and its relevance to the proposed business idea; and
• The candidate's entrepreneurial experience and its relevance to the proposed business idea.
  • If the candidate has no relevant experience or background directly related to the proposed business, he or she should explain how his or her knowledge or experience can be applied to the business.

Ineligible Applicants

Applicants are considered ineligible if they:

• Are refugee claimants in Canada;
• Are living illegally in their country of residence or in Canada;
• Have had a removal order issued against them by IRCC or Canada Border Services Agency;
• Are prohibited from entering Canada;
• (or any dependent family member, accompanying or not) have a serious medical condition;
• (or any dependent family member, accompanying or not, over the age of 18) have a criminal record;
• Have unresolved custody or child support disputes affecting any member of their family; and/or
• Have intentionally misrepresented themselves in their application.

Ineligible Businesses

The following types of businesses are considered ineligible for the SINP Entrepreneur Category:

• Property rental, investment, and leasing activities;
• Real estate construction/development/brokerage, insurance brokerage, or business brokerage;
• Professional services or self-employed business operators requiring licensing or accreditation;
• Pay day loan, cheque cashing, money changing, and cash machines;
• Credit unions;
• Home-based businesses, including bed-and-breakfasts and lodging houses;
• Co-operatives; and
• Investments into a business operated primarily for the purposes of deriving passive investment income.