Eligibility
A business nominee will be an individual who identifies a business
opportunity in the province’s key sectors or industries that will
enhance the production of goods, the provision of services, exports,
technology, or research in Saskatchewan.
Assessment
Each application will be considered on its individual merit to
determine if the proposed business will be of significant benefit to the
key sectors of the provincial economy. Business
applicants will:
-
Have
proven experience in managing a business;
-
Have
significant funds for establishing a new business, or a joint
venture or partnership in an existing Saskatchewan business, in
which the applicant will have an ongoing management role;
-
Complete
a business plan (see below);
-
Undertake
at least one fact-finding trip to Saskatchewan to meet with industry
associations, regional economic development authorities, businesses,
and other associations, institutions, individuals or government
agencies as deemed appropriate; and
-
Provide
a full disclosure of business assets and debts including national
and international business activities. A letter of recommendation
from the applicant’s banking institution will assist in the review
of the business proposal.
Please
note that a business applicant must intend to manage and operate a
business in Saskatchewan, and live in the province. Business plans
that involve investments in a Saskatchewan business where the applicant
will not have responsibility to manage and operate the business will be
deemed passive investment schemes and disallowed. Passive
investments include business plans where the applicant:
-
Will
not have direct daily management responsibilities in the business;
or
-
Has
representation on the company board only; or
-
Invests
in the business for a period of time with a return of investment
under specified conditions.
The
province’s key sectors are:
-
Agriculture
and agri-value
-
Biotechnology
-
Culture
-
Energy
-
Environmental
industries
-
Forestry
-
Information
technology and telecommunications
-
Mining
-
Tourism
-
Value-added
processing and manufacturing
Business
Plan
The business plan will:
-
Include
the proposed financial investment and the applicant’s active
management role in a new or existing business;
-
Fall
within the key sectors and industries of the province; and
-
Demonstrate,
that as a result of establishing the business, there will be:
-
Capital
investment in a new or an existing business;
-
Direct
job creation for Saskatchewan residents, excluding family
members; and
-
A
significant impact to the expansion or diversification of the
economy, such as: (i) the establishment of a secondary or
tertiary business in support of a primary industry; (ii)
application of technology leading to the improvement of
products, services or processes; and (iii) improved market
access for Saskatchewan goods and services.