The Alberta Rural Entrepreneur Stream is for entrepreneurs seeking to launch a business or purchase an existing business in a community in Rural Alberta for immigration to Canada. It is among the popular pathways to apply for Canada PR Visa from India.
Candidates who are successful in their application arrive in Alberta on the Canada Work Permit. Later they establish their business according to the terms of the BPA – Business Performance Agreement. They afterward get a nomination for a Canada PR Visa through the AAIP – Alberta Advantage Immigration Program.
Eligible entrepreneurs seeking to take over a current business or launch a new business in Alberta can obtain the nomination for PR through the Rural Entrepreneur Stream. The program aims to leverage the initiatives and skills of entrepreneurs to create jobs for Albertans.
AAIP defines an ‘Entrepreneur’ as an individual who grows or establishes a business for making a profit. They also possess the potential to become a source of fresh services, goods, and ideas and fresh business practices or undertakings.
Communities in Rural Alberta that can become eligible for designation through the Program must have a population lesser than 100,000. These must be situated exterior of the Edmonton and Calgary Census Metropolitan Areas.
How Rural Entrepreneur Stream works?
The following steps are involved under the Rural Entrepreneur Stream
Step 1
An exploratory trip for meeting the business contacts locally, Economic Development Officers in the community, and any other prospective contacts. The aim is learning and understanding the local business ambiance and requirements in order to establish a successful business in the chosen region.
The purpose of this step is to offer potential entrepreneurs the chance to make an informed decision regarding the operations and management of a business in the community in rural Alberta.
Step 2
Offer the contact in the community a copy of the Business Proposal Summary Stream under the Rural Entrepreneur Stream.
Step 3
A Support Letter from the Community will be offered if the business project is considered to be profitable and have an affirmative impact on the community. It is an endorsement of the business project signifying that the community acknowledges it and backs its development in Alberta.
Step 4
After receiving the Support Letter from the Community, the entrepreneur can file an EOI – Expression of Interest to the AAIP.
Requirements for Community Designation
In order to be considered for being designated, rural communities have to fulfill the following requirements:
- Possess a population of lesser than 100,000 (A partnership for application can be formed by communities in the same economic region)
- Be situated exterior of the Edmonton and Calgary CMAs
- Possess one or multiple employers keen on participating and providing non-seasonal, full-time, permanent employment
- Get a Support Letter from the Municipal or Community council
- File an application with a signature from the Organization for Economic Development with economic development as the primary function inclusive of the plan for economic development or a similar document
- Get a Support Letter from a settlement agency
Rural Communities participating in RES
- Red Deer County
- County of Wetaskiwin
- Town of Didsbury
- City of Wetaskiwin
- Town of Olds
- Town of Millet
- Town of Trochu
- Village of Clive
Entrepreneurs’ Eligibility Requirements
To be considered for the Rural Entrepreneur Stream, candidates are required to:
- Possess at least 3 years of experience as an active Manager or Owner of a business or at least four years of Senior Manager experience in the last 10 years
- Must have completed at least High School education on par with standards in Canada
- Possess at least CLB – Canadian Language Benchmark 4 in each language competency in English (IELTS) or French language (NCLC): Speaking, Listening, Writing, and Reading
- Possess at least $300,000 Net Worth in personal holdings or those of a common-law partner or Spouse
- Possess at least 51% shareholding if it is a fresh company or if a buyout is 100%
- Fresh businesses have to create a minimum of 1 full-time job for a Permanent Resident or Citizen of Canada
- Possess a Support Letter of Community from a participating rural community in Alberta
Candidates’ chances can be increased by the following factors:
- The age of the candidate is in the range of 49 to 29 years
- The Common-law partner or Spouse has completed a minimum of 1 year of Post-secondary education full-time or possesses at least CLB 4 in all 4 language competencies in English or French
- Having a relative residing in Alberta
Qualified Businesses
The candidate is responsible for ensuring that the business fulfills the eligibility criteria. Businesses are eligible for the Rural Entrepreneur Stream if they fulfill the following general requirements:
- The proposed business aims to earn profit from active or income earned from the sale of services and/or services
- The proposed business fulfills compliance as per suitable Municipal, Provincial, or Federal licensing, regulatory, or statutory requirements that govern its activities
- The proposed business fulfills compliance as per suitable requirements for trade certification in Alberta
- The proposed business possesses a physical business location in a community in Rural Alberta at all times
- The requirements for ownership and all other program criteria are similar for franchises as for other businesses. But the applicants are also required to offer evidence of support from the key franchisor for operating the franchise in the location
- The candidate must possess a minimum of 51% of the business if it is a fresh business or 100% of the business if they are buying an existing business
- Candidates have to stay in Alberta and have involvement in the business’s day-to-day management. It is not allowed to perform this remotely from another territory or province in Canada or overseas
If you are keen to immigrate to Alberta through the Rural Entrepreneur Stream and check eligibility for Canada PR contact Immigration Experts at the Best Immigration Consultant in Delhi Nationwide Visas.
