The well-known and widely used Saskatchewan Provincial Nominee Program (SINP) is basically a Canadian provincial scheme that enables the province to offer nomination to immigrants, to fill the province’s specific economic and labor market needs. The program can provide a quicker means of entry into Canada.
The program is basically for Entrepreneur and Farmers who are eager to invest their management talent and capital in a Saskatchewan business or farm operation. Significantly, the province is located in the central prairie region of Canada. Almost one half of the area is forest and one third is farmland.
Saskatchewan Immigrant Nominee Program (SINP) for Businessmen is sub classified in two parts:-
- Entrepreneurs
- Farm Owners
Entrepreneurs
This category is for applicants who wish to invest their management talent and capital in a Saskatchewan business. Following is the Criteria that you must meet to be approved for nomination:
- A minimum net worth of $300,000 Canadian Dollars (CAD) that can be verified later
- Accumulation of net worth through legal means, that can be verified later
- Not less than three years entrepreneurial or relevant business management experience
- Aim to stay and vigorously invest in Saskatchewan, which is evaluated using the Intent Grading Grid
Requirements
Once you are approved for nomination by the SINP – Entrepreneur Category, you will be required to have an active investment of not less than $150,000 CAD in the province. And in case you own less than one third of the business, then it is essential that the total investment is worth not less than $1 million CAD. You are also required to be involved in the day-to-day management of your business and make a $75,000 Good Faith Deposit. If you meet certain conditions, you may apply for your Good Faith Deposit to be returned.
Farm Owners
Under the category Hobby Farms are not eligible to submit an application an applicant needs to meet following criteria:
- Available Equity: You must provide financial documents showing a net worth of $500,000 Canadian Dollars (CAD).
- Refundable Cash Deposit: You must sign a Performance Agreement committing to purchase a farm operation in Saskatchewan and make a “good faith” deposit of $75,000 CAD in trust. The cash deposit will be returned to you when the terms of the Performance Agreement are met, and if the terms are not met within two years, the deposit will be forfeited to the province.
- Mandatory visit to Saskatchewan: You must have conducted an all-inclusive exploratory visit to Saskatchewan of no less than five working days and must meet with an SINP representative.
- Farm operation knowledge and experience: You should offer documentation I.e. education and training, employment experience, financial documents of your prior operations that show that you are a knowledgeable farm operator. In case required, the authorities may further confirm this information, via an interview, when you are eventually in the province.