Saskatchewan allures Indian investors with Canadian work visas

Canada, 13th June: Indian investors wanting to move to Canada are being offered Canadian work visas by the Canadian province Saskatchewan in order to attract them to buy SMEs without any succession plans.

Saskatchewan also seeks Indians on Canadian student visas to stay there and begin their professional careers and businesses there.

The Indian entrepreneurs are being offered the opportunity to acquire SMEs (small and medium enterprises) since almost 40 percent of the SMEs are without any succession plans. This was revealed by minister for advanced education, employment, Labor and immigration, Rob Norris.

Norris is on a 10-day visit to India since 1st June, 2010. He is accompanied by a delegation comprising of university officials, industrialists, scientists and government officers. The aim of this visit is to strengthen relations between India and Canada.

The minister expressed confidence that the Canadian mission to India will result in bringing increased number of jobs and more economic prosperity to Saskatchewan in the long run.

Norris is likely to attract nearly $100 million investment from India to Saskatchewan by providing several different incentive offers to investors. He said that Canadian province Saskatchewan has already extended immigrant entrepreneur program in a bid to allure Indian investors to make investments in commercialization of science & technology along with other large-scale investment programs.

The minister said that since about 40 percent of the SMEs (in Saskatchewan) are without succession plans, hence, Indian investors are being invited to maintain continuity of such businesses by making investments. Companies in Saskatchewan are permitted 15 percent R&D (research and development) tax credit in addition to other tax incentives being provided.

 In addition to the Indian entrepreneurs, the mission led by Norris also aims to convince students in Saskatchewan on Canada student visas to keep staying in this Canadian province after completing their study course and step forward to pursue businesses here.

Presently, out of total 3,500 overseas students on Canadian student visas in Saskatchewan, 10 percent are from India, stated assistant deputy minister Rupen Pandya.

In order to extend their stay in Saskatchewan, the immigrants need to make application for landed immigrant status under Saskatchewan Immigrant Nominee Program.