Saskatchewan invited 62 foreign entrepreneurs to apply to its immigrant nominee program in a new Expression of Interest (EOI) draw held December 5.
The province’s Entrepreneur Category allows international entrepreneurs to establish a business in Saskatchewan on a temporary work permit.
Those who meet the terms of their Business Performance Agreement and other criteria can then apply for a nomination Canadian permanent residence from the Saskatchewan Immigrant Nominee Program (SINP).
The first step is to create an online profile with information about entrepreneurial experience, assets and the Business Establishment Plan, among other criteria.
Entrepreneurs who meet the minimum entry criteria are accepted into the EOI pool and assigned a score out of 160 points.
The EOI Points Grid assigns scores for business performance and aims to select entrepreneurs who will transfer their skills to Saskatchewan and diversify the province’s labour market.
The average EOI score in the latest draw was 120, which was also the lowest EOI score. The highest EOI score in this round was 145.
In order to qualify under the Entrepreneur Category, candidates must have a minimum net worth of $500,000. They also need at least three years of entrepreneurial experience within the past 10 years.
Candidates must make a minimum equity investment of $300,000 in Regina or Saskatoon, or at least $200,000 in any other Saskatchewan community.
The next Entrepreneur EOI system draws are scheduled to happen on January 7, 2020, and March 5, 2020, however, these dates are subject to change.