Welcome to the Town of Peace River Rural Entrepreneur Stream Portal
We are so excited to have been designated as a Rural Entrepreneur Stream community! The Rural Entrepreneur Stream is an economic immigration program. Entrepreneurs who want to start a business, or buy an existing business, in Peace River can submit an Expression of Interest to the Province, through Alberta Advantage Immigration Program.
To ensure you understand the program, we suggest reading the Government of Alberta’s AAIP pages, linked to above. You should also use the self-assessment tool, and contact the Town if you have any questions, by email, at ecdev@peaceriver.ca. There’s a lot that goes into participating in the Rural Entrepreneur Stream program, and you will have to work collaboratively with the Town in building a credible, appropriate proposal, focused specifically on the Town of Peace River.
Exploratory Visit and Community Letter of Support
Once you have read the Government of Alberta’s publicly available information, linked to above, if you still believe you are eligible for the program — and that you are in a position currently to be able to demonstrate that eligibility to the Town — you can request an Exploratory Visit with the Town by completing the pre-screening form. We will review your business proposal and, if you meet the requirements, will schedule an exploratory visit, and provide you with a Community Letter of Support.
The AAIP is currently accepting EOIs under the Rural Entrepreneur Stream. The information provided in the EOI, Business Proposal Summary, Net Worth Worksheet, and Community Support Letter will be assessed, and points will be awarded by the AAIP based on the Rural Entrepreneur Stream Points Grid. Candidates may be selected based on their points, after which point it will be requested that they submit a Business Application.
Once you complete the form, we will reach out to you to book a virtual/in-person exploratory visit.
The entrepreneur researches the community they want to establish a new business or take over an existing business and connects with the community contact to pitch their business idea. Based on these initial conversations, both parties will determine if they wish to proceed with scheduling an exploratory visit to discuss further details. The entrepreneur is responsible for applying for the required visas for the exploratory visit.
The Alberta Advantage Immigration Program and the participating communities will not provide a letter of support for the entrepreneur to obtain a Temporary Resident Visa to conduct an exploratory visit to Alberta. After the entrepreneur completes their exploratory visit, the entrepreneur submits a formal business proposal summary to the community for consideration. The community is required to make a decision on if they support the entrepreneur’s business proposal. By endorsing the business proposal summary and issuing a community support letter, the community is confirming they support the entrepreneur in establishing or purchasing a business in their community.
If eligible, the entrepreneur submits an expression of interest, along with the Net Worth Worksheet, Community Support Letter and Business Proposal Summary through the Alberta Advantage Immigration Program portal. Based on the information provided in the expression of interest, candidates will be assessed and ranked using a point’s grid system.
A program officer with the Government of Alberta w ill contact candidates with the highest-ranking points to invite them to submit a business application through the Alberta Advantage Immigration Program portal. Only candidates w ho are requested to submit a business application to the Rural Entrepreneur Stream w ill be considered.
A program officer will assess the business application and supporting documents. If successful, candidates w ill complete and sign a Business Performance Agreement. The Alberta Advantage Immigration Program will then issue a Business Application Approval Letter along with a 205(a) Letter of Support for the candidate to apply for a work permit to IRCC. The work permit will allow the candidate to come to Alberta to establish their business.
After arriving in Alberta, candidates must:
Submit an arrival report to the Alberta Advantage Immigration Program within 30 days of signing the work permit.
Establish and run an eligible business, with 51% ownership if establishing a new business or 100% ownership for business succession. Candidates must be actively involved in the day-to-day management and operations.
Meet the requirements set out in the Business Performance Agreement within a one-year period of establishing the business.
Submit business progress reports every six months to the Alberta Advantage Immigration Program to demonstrate business viability.
After operating the business for one year, candidates must submit their Final Report for Nomination to the Alberta Advantage Immigration Program. The final report will be reviewed to ensure all requirements of the Business Performance Agreement have been met. If all conditions are met, the Alberta Advantage Immigration Program will issue a nomination certificate.
Candidates are then responsible for applying to IRCC for permanent residency, while continuing to reside and operate their business in Alberta. The Alberta Advantage Immigration Program expects that the entrepreneur will continue to be actively involved in the management and day-to-day operations of the business while residing in Alberta.
Eligibility
To qualify for the Rural Entrepreneur Stream (RES), candidates must meet the following criteria:
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.
Completion of a minimum of high school equivalent to the Canadian standard with an Education Credential Assessment (ECA).
Must have a business plan with projected financials.
Meet language requirements of Canadian language benchmark 4 in all four categories.
Minimum net worth of $300,000, with all assets being the candidate or partner’s own personal holdings.
Minimum investment of $100,000 from the candidate or partner’s own personal holdings.
Minimum ownership of 51% if establishing a new business or 100% ownership if business succession.
The succession buyout must result in a complete change in ownership where the candidate will assume full control of the business.
Create at least one full-time job for Canadian citizens or permanent residents (not including relatives) when establishing a new business.
Have a Community Support letter from a participating rural Alberta community.
Rural Renewal Stream
Did you end up here by mistake? If you’re looking for a job with an existing company, or if you are looking to fill labour gaps for your company, you’re likely looking for information about the Rural Renewal Stream!
