Saskatchewan to invest C$6.3 million on comprehensive immigration strategy
The Province wants to attract more immigrants by allowing economic immigrants to establish businesses in all sectors of the provincial economy.
Effective May 18, 2006 immigrants will no longer be limited to certain economic sectors such as agriculture, and energy. The province will invest an additional C$4.6 million from their previous 2004/2005 budget to persuade more immigrants to move to Saskatchewan. The new initiative is expected to bring an additional 100 to 200 business immigrants yearly to the province.
"This new program will make it easier for immigrant entrepreneurs to establish businesses here while helping our economy to expand", said Pat Atkinson, Saskatchewan's minister responsible for immigration. The province has outlined key pre-requisites which entrepreneur immigrants must meet in order to be eligible under Saskatchewan's amended Provincial Nominee Program (PNP) that include:
a) A personal net worth of at least C$250,000
b) An investment of at least C$150,000 into a viable business within two years of landing.
c) An active role in business operations.
d) A minimum of one-third ownership in the business; exceptions may apply to investments which exceed C$500,000
e) A C$75,000 "good faith" deposit to secure your intention to remain and work in Saskatchewan.
The Government of Saskatchewan expects this new program to bring in an additional 5,000 immigrants every year by 2008.