What is the Rural Entrepreneur Stream?
The Rural Entrepreneur Stream is a program to promote economic growth and development in rural Alberta by attracting and retaining entrepreneurial talent. This program is designed to encourage and support individuals who want to start or acquire a business in a rural community in Alberta. By providing eligible candidates with a pathway to permanent residency in Canada, the program encourages entrepreneurs to invest their time, money, and talent in the province, thereby contributing to the growth and prosperity of Alberta.
What are the eligibility criteria for the Rural Entrepreneur Stream?
To be eligible for the Rural Entrepreneur Stream, candidates must have:
- Minimum 3 years of work experience as a business owner/manager or 4 years as a senior manager in the last 10 years.
- Completed minimum high school equivalent to Canadian standard with an Education Credential Assessment (ECA).
- Minimum Canadian Language Benchmark (CLB) level of 4 or Niveaux de compétence linguistique canadiens (NCLC) of 4 for each English/French language skill.
- Minimum personal net worth of $3,00,000.
- Minimum investment of $1,00,000 from candidate’s (and/or spouse/common-law partner’s) equity.
- Minimum ownership of 51% for a new business. Business partners must be Canadian citizens or permanent residents. New businesses must create at least one full-time job for Canadian citizens or permanent residents (not including relatives) for a period of at least 6 months.
- Obtained a Community Support Letter from a participating rural Alberta community.
Areas of Expertise
Get social and stay up to date with our community involvement:
Can I apply for the Rural Entrepreneur Stream if I don't have any experience as a business owner or manager?
No, to be eligible for the Rural Entrepreneur Stream, you must have a minimum of 3 years of experience as an active business owner/manager or a minimum of 4 years of experience as a senior manager within the past 10 years.
Do I need to visit the rural Alberta community before submitting my Expression of Interest?
No, it is not a requirement to visit the community before submitting your Expression of Interest. However, an exploratory visit can help you learn more about the community and the business opportunities available, which can be helpful in your decision-making process.
Can I use funds from a loan as part of my minimum investment for the Rural Entrepreneur Stream?
No, the minimum investment of $100,000 must come from your own (and/or spouse/common-law partner) equity, and cannot include funds from a loan.
Do I need to have a job offer from a Canadian Citizen or Permanent Resident before applying for the Rural Entrepreneur Stream?
No, you do not need a job offer from a Canadian Citizen or Permanent Resident before applying for the Rural Entrepreneur Stream. However, you must create at least one full-time job for Canadian Citizens or Permanent Residents (not including relatives) for a period of at least 6 months if you are starting a new business. If you are buying an existing business, the job requirement does not apply.