Saskatchewan invites 58 Canada immigration candidates in new entrepreneur draw

Abstract: Saskatchewan issued 58 ITAs for the Entrepreneur draw held on March 3, 2022.

Highlights:

• Saskatchewan issued 58 ITAs for the Entrepreneurship draw.
• The province conducted the draw through the SINP or Saskatchewan Immigrant Nominee Program.
• The next draw for the Entrepreneurs stream will be held on May 5, 2022.

On March 3, 2022, the Canadian province Saskatchewan held a draw for the pool of Entrepreneurs. 58 ITAs or Invitation to Apply for permanent residency were issued to international entrepreneurs through the Saskatchewan Immigrant Nominee Program.

The average point to score for the program was 90, and the least marks required were 80.

The next draw for the Entrepreneurs stream is to be held on May 5, 2022.

*Check your eligibility for Canada with Y-Axis Canada Immigration Points Calculator.

What is SINP

The SINP or Saskatchewan Immigrant Nominee Program facilitates the nomination of immigrants to the provincial government for PR or permanent resident. The candidates are divided into three categories:

• International Skilled Worker
• Business Immigration
• Saskatchewan Experience

2022 Draw for Saskatchewan

So far, in 2022, Saskatchewan has held two draws. Over fifty immigrant candidates have been invited for PR.

Are you interested to work in Canada? Contact Y-Axis.

Requirements for the Entrepreneurship stream draw

Saskatchewan gives precedence to three factors in cases where the candidates in the pool get the same points. The three attributes which are given importance are

• Proficiency in the official language of Saskatchewan, i.e., English
• Business plan for the economy sector
• Completing the exploratory visit

Stages of the nomination in Entrepreneurship stream

The nomination for the entrepreneurship consists of three stages. They are

• Submission of Expression of Interest
• Issuance of Invitation to Apply
• Nomination for permanent residency

Requirements of Expression of Interest

The expression of interest should meet the requirements given below:

• The minimum net worth should have been legally acquired and amount to $500,000.
• The candidates should have at least three years of experience in the entrepreneurial or relevant management sector.
• A minimum investment of $300,000 is required for Regina or Saskatoon.
• Any other area of Saskatchewan can be invested with $200,000.

Components of the application

The application for the Expression of Interest must include

• A plan for the establishment of the business. The figures in the plan must be the same as given in the expression of interest.
• The plan should also include at least 1/3rd ownership of the company in Saskatchewan.
• If the investment is $1 million or more, the requirement for ownership in the province can be exempted.
• Dedication to operating the day-to-day business management.
• Creation of more than two jobs for Canada’s citizens or permanent residents if the business is located in Saskatoon or Regina.

Do you want to establish a business in Canada? Y-Axis is here to assist you.

Phases of Expression of Interest

The nomination for entrepreneurship consists of three phases. They are

• Submission of Expression of Interest
• Issuance of Invitation to Apply
• Nomination for permanent residency

Do you need to migrate abroad? Y-Axis, the No.1 Overseas Immigration Consultant is here to help you.

If you found this article interesting, you may want to read

IRCC extends Interim Authorization to Work policy for one more year