The province is expecting to accept new applicants under business class category after completion of assessment of those applications which were received in 2014.
It is a good idea for potential immigrants to start preparing their documentation (such as financial statements showing the value of the personal net income and the source of it) now as well as familiarize themselves with the specifics of Saskatchewan economic and social environment.
To meet the minimum requirement for nomination by Saskatchewan government the potential business immigrant must:
- Have a minimum active investment of $150,000 CAD in the province. If the applicant owns less than 1/3 of the business, then their total investment must be worth at least $1 million CAD;
- Be actively involved in the management of the intended business;
- Make a $75,000 deposit. After meeting conditions of the agreement with the province, the deposit will be returned to the applicant.
Please note that not every province in Canada accepts business immigrants therefore the competition is high. It is recommended to keep in mind therefore that the investment should be higher than the minimum requirement or the applicant persuades the province that their business would be profitable and stable.
The potential immigrant must prepare a business plan describing the future business operation in the province. It could be a purchase of an existing business or creation of a new one. The candidate must demonstrate that a new business would fill economic need in the province.
Some businesses cannot be accepted into consideration for the purpose of immigration to the province. They are:
- Property rental, investment and leasing activities;
- Real estate development/brokerage, insurance brokerage or business brokerage;
- Professional services subject to licensing (lawyers, accountants, engineers, electricians, etc.);
- Pay day loan, cheque cashing, money changing and cash machines;
- Credit Unions;
- Home-based businesses;
- Co-operatives;
- Passive investments businesses;
- Businesses previously owned and/or operated by current or former provincial nominees
