Saskatchewan SINP Entrepreneur and Farm Category is a program through which Candidates who are looking for possessing and managing a business or any farming operation in the state of Saskatchewan need to apply under the Entrepreneur and farm category.
Entrepreneur sub-category is designed for candidates who want to manage and invest their financial capital in Saskatchewan by building, obtaining, or by being a partner to a business venture currently located in Saskatchewan. Interested applicants need to show an active participation in the management of the business. The function of this sub-category depends upon the Expression of Interest model.
There are few eligibility conditions that the candidates need to fulfill in order to proceed further. Following are those requirements:-
1. Candidates ought to show at least 3 years of experience.
2. Candidates ought to have a net worth of legally acquired CAD 5,00,000.
Requirements
If the candidate becomes eligible then the candidates need to fulfill the following categories:-
1) Requisite business must be capable of gaining the points under the points grid of Entrepreneur Category under the SINP.
2) Investment of at least CAD 300,000 is required or CAD 200000 towards any province’s community.
3) Prove that the candidate has an active participation in the daily operations and management of the business.
4) Candidates must make sure that they create at least 2 jobs for Canadian citizens or Canada Permanent Residency (PR) holders.
5) If the requisite business has investment lower than CAD 1 million then the candidates must show the ownership of at least 33.33% in the business or if the investment is more than CAD 1 million than a lower equity stake is acceptable for further processing.
Farm Owners and Operators Sub-Category is designed for candidates who have a farming experience with required capital and are looking to invest in a farming operation in Saskatchewan. In order to be eligible for Farm Owners and Operations subcategory, Saskatchewan province has set some guidelines. Following are those guidelines:-
1) Candidates ought to meet various representatives of Saskatchewan PNP & make a visit to the province for atleast 5 days so that they can explore the place.
2) A candidate ought to possess a net worth of at least CAD 500,000 or more and must also have a proof validating that.
3) Candidate must be able to prove their experience and knowledge in handling their farm operations.
4) Candidates must sign the Performance Agreement and must deposit CAD 75000, refundable, in cash with the authorities on the trust basis. The money is returned once the specifications under the Performance Agreement are met but if these terms are not met within 2 years time period, then the amount won’t be refunded.
If a candidate is a young farmer and wants to pursue their business along with the family settlement, they can apply through Saskatchewan Young Farmers Stream. For this, these candidates must fulfill the following eligibility criteria:-
1) Age should be less than 40 years of age.
2) Minimum net worth should be CAD 300,000 which should be at least 80% verifiable.
3) Main applicant and the spouse must possess other marketable skills as well.
4) Prior experience of atleast 3 years is required in managing, or operation or owing the farm.
5) The farming venture should be commercial in nature and a revenue of at least CAD 10,000 to get qualified.
6) Candidates ought to conduct the research of conditions and opportunities provided by the farming sector in Saskatchewan. After the research they must submit the requisite report detailing their findings.
7) Candidates ought to meet the Saskatchewan PNP (SINP) officials when they make the compulsory trip.
8) The candidate’s prior experience must be in sync of the agricultural conditions similar to Saskatchewan and be able to show their farming skills.
9) Candidates must have an investment of CAD 150,000 in either buying a new one or in a existing farm. Investment ought to cover the working capital and capital assets.
Following are the documents required for this category:-
1) Education
2) Trade
3) Divorce certificate (if applicable)
4) Marriage certificate (if applicable)
5) Birth certificate of main candidate and their family members.
6) Net worth statement
7) Schedule 4A form.
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