Invest and grow in the Manitoba province of Canada
August 27, 2022 11:28:01 PM
Canada one of the most glorious countries in the world, invites quite a number of immigrants into the country to participate in the growth of the country. One of its popular pathways is the PNP program. As part of this program, skilled immigrants and entrepreneurs pathways have been defined. PNP program which started in the 90s has been actively contributing towards helping connect right personal with the province concerned.
Manitoba Entrepreneur Program –
Manitoba is a vast province and is known for its rivers and huge tracts of farm lands. Manitoba through its MPNP program has introduced Manitoba Business Investor Stream allowing Manitoba to invite chosen entrepreneurs in to the province. Such entrepreneurs and business investors should qualify under the defined eligibility criteria and should have the intention to open or invest in a business in Manitoba. Manitoba has two pathways defined under Manitoba Entrepreneur program one is Entrepreneur pathway and the other is Farm Investor Pathway.
The Entrepreneur Pathway –
Manitoba brought this new pathway as a replacement for the existing Manitoba PNP – business stream.
Eligibility to qualify under this program-
i. The entrepreneur should have a minimum of 3 years business experience during the last 5 years right before submission of application
ii. The business owner should have a minimum of 33.3 % of share in the business
iii. The applicant should achieve Canada language proficiency benchmark of 5
iv. The applicant should be at least 25 years of age
v. Investment qualifications requirement –
Minimum Investment – CAD $250,000 if investing in Manitoba Capital
CAD $150,000 if investing in other parts of Manitoba other than Manitoba Capital
vi. The business proposed should create a minimum of 1 job for local residents or citizens
vii. The entrepreneur will have to make a mandatory business visit to explore and research about the business and area in Manitoba. A report about this should be submitted along with EOI. This visit should be made within 1 year right before submission of the EOI.
viii. The Entrepreneur should be able to prove his personal net worth to be CAD $500,000. This is kind of important for any of the Canada Business Investor Stream.
How it works-
i. Once the Expression of Interest is accepted, the investor should enter into a Business Performance agreement with Manitoba after which a temporary work permit is issued.
ii. The Entrepreneur will enter Manitoba on temporary work permit to either invest or become partner in a business or purchase a business as a whole. This should be achieved within 24 months of arrival in Manitoba
iii. A business progress report should be submitted to the Manitoba immigrations. If everything goes smooth, the Entrepreneur will receive nomination from Manitoba.
iv. After this the Entrepreneur will proceed to apply for Permanent Residency with IRCC.
Manitoba Provincial Nomination Program has another unique pathway for investors.
The Farm Investor pathway –
The farm investor pathway is a replacement for the previous pathway. This renewed pathway is for individuals who have the ability to prove their farming experience. Such individuals will have to have enough funds to purchase farm land in Manitoba. The farm investor will have to work as per the provincial statistics in Manitoba. The farming nature should be relevant to Manitoba Farm Industry.
The qualifications for this program more or less are same as the Business Investor Pathway. However, the minimum investment required to purchase farm land in Manitoba would be CAD $300,000.
Investing in business across the globe is a vast proposition and it requires proper diligence before proceeding. It is required by the provinces too that the investor does a thorough research in the concerned province about the suitability and growth of the business plan. It is hence important to partner with right immigration consultancy firm who can guild the investor in the right manner about which works and which doesn’t. To invest in Canada, it is advisable for any of the investor to work with the ICCRC registered Immigration firm for smooth relocation into Canada.
To Know more about the Application Process and your Eligibility