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ALBERTA RURAL ENTREPRENEUR STREAM
Prerequisite
• Entrepreneurs must propose a viable business plan that will contribute to the economic development of a rural Alberta community. This includes both investment and management of the business.
• Applicants must make a minimum investment in a business in the province of Alberta. Investment amounts will vary depending on factors such as location and nature of the business.
• Must create full-time jobs for Canadian Citizens or Permanent Residents.
• Must demonstrate intention to reside temporarily in the province of Alberta.
Survey trip
The survey trip is an important part of the program. This is the best way to find out whether setting up a business in this rural area will benefit the entrepreneur and his family?
Applicants to the program are required to complete a field trip and submit a report on the trip. This is an important process for this rural entrepreneur immigration stream as it helps prospective Canadian business owners learn about the market, business opportunities, communities and other requirements here.
Applicants have the opportunity to meet partners and better understand the culture and environment of Canadian businesses.
The best part of the trip is that it ensures that the applicant and their family get a good overview of the living environment in the area, and that they can settle comfortably in this rural area.
Endorsement from the local government
Entrepreneurs need to obtain approval from local government in rural Alberta.
This shows that the community supports the business idea of the enterprise and believes that the enterprise will bring many benefits to the local economy.
Implementation process
Important information
• Survey trip is the trip to the city where the entrepreneur plan to set up a business in the province of Alberta
• Submit an “Expression of Interest (EOI)” to the Alberta government and, if selected, you will be invited to submit a formal application.
• An official application package including a business plan and financial documents to prove your eligibility for the program.
• Evaluation criteria are based on factors such as economic benefit to the local community, potential for job creation and the ability to establish and manage the proposed business.
Service and support
• Successful applicants to this program will receive support from the Alberta government, including: business development resources, networking opportunities and participation in mentoring programs.
• The Alberta government will also propose a number of additional support policies such as adapting to local regulations, connecting with community networks or helping businesses find infrastructure.
Requirements
• Work experience: 3 years of experience as a business owner/business manager or 4 years of experience as a senior manager within the last 10 years directly participating in business operations.
• Language ability: IELTS from 4.5
• Net worth: Total assets must be at least $300,000 CAD
• Investment amount: Minimum $100,000 CAD
• Business formation: Minimum 51% if starting a new business and the partner must be a Canadian Citizen or Permanent Resident, or must be 100% equity if acquiring a business.
• Job creation: Must create at least 1 full-time job position for a Canadian Citizen or Permanent Resident within 6 months
• Community support letter from local community: Must have a Community support letter from a local community from a rural Alberta community
Becoming a permanent resident
If the application to the program is approved and the entrepreneur is successful in establishing a business in Alberta, candidates may be eligible to apply for Permanent Residence through the Provincial Nominee Program (PNP).
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