Run your own business or farm in Manitoba
Investing in Canada has large amount of benefits for the investors. Apart from having permanent residency in Canada, the investor gets to explore new markets relevant. The investor or entrepreneur will also be eligible for citizenship of Canada once he/she lives in Canada for a minimum of 4 years. These provisions extend to the immediate family of the investor or entrepreneur. Canada intends to invite close to a million immigrants into the country as part of their 2020-2022 immigration plan. As part of this, they will be inviting at least 50% entrepreneurs into the country. One of Canada’s most successful pathways is the Provincial Nomination Program.
Through PNPs, the provinces get the right to choose the eligible individuals who would fit in to the respective provinces. One such province is Manitoba. Manitoba is one of the richest provinces in Canada. The living and lifestyle there is quite unique in comparison with other provinces. Manitoba provides the 2 unique streams for entrepreneurs through Manitoba Provincial Nominee program. Manitoba has always been productive and differentin the manner it implements its programs. Manitoba caters to businessmen and farmers who intend to invest in Manitoba. This program that Manitoba replaced its ole MPNP-B program is known as Manitoba Business Investor Stream.
Through Manitoba Business Investor Stream, Manitoba tries to address the needs of all the investors who intend to invest in Manitoba. There are two pathways that is defined under this stream –
i. Entrepreneur Pathway
ii. Farm Investor Pathway
Entrepreneur Pathway –
The Entrepreneur pathway is for all those businessmen who intend to invest in Manitoba for the purpose of partnering in a running business or wholly owning a business there. The below is a briefing of the steps involved in Manitoba Entrepreneur Pathway.
i. The investor or entrepreneur will first have to get self-evaluated to understand his business requirement better
ii. The investor will have to then visit Manitoba to do a research about the place and the business he intends to invest in.
iii. The investor will have to prepare his business plan based on the research and submit the same along with his Expression of Interest. The application should be submitted within one year of the research being completed in Manitoba.
iv. Once the province approves the application, the investor will get a temporary work permit.
v. The entrepreneur, with help of this work permit starts his business journey in Manitoba.
vi. The entrepreneur will have to enter into a business agreement with Manitoba. He will have to set up his business or get it going in Manitoba. He will be given 24 months’ time period.
vii. During this period, the businessman will have to submit a report which proves that he successfully complied with the agreement entered to with Manitoba.
viii. Once Manitoba immigrations are satisfied with the businessman, they will provide nomination to the Businessman.
ix. The businessman can then proceed to apply for Canada permanent residency with IRCC.
To qualify for this program –
i. The investor should be aged 25 and above
ii. The investor, if investing in the capital of Manitoba, needs to invest a minimum of CAD $250,000
iii. If the investor intends to invest outside of the Capital of Manitoba, then the investment amount is CAD $150,000
iv. The investor has to prove his personal net-worth of CAD $500,000
v. The investment should create atleast one job opportunity for the local residents or citizens of Manitoba.
vi. The investor should hold a minimum of 33% share in the business he is investing in
vii. The investor should achieve a CLB 5 in the language ability test
viii. A mandatory visit to Manitoba should happen for a complete research in the area.
Any of Canada Business Immigration programs requires that the investor does a thorough research about the place and business of investment before proceeding.
It is important to work with the right international Immigration consultancy firm who have the expertise to handle any kind of immigrations possible. Canada especially has its own agency for scrutinizing the right immigration firm. This organization is known as Immigration Consultants of Canada Regulatory Council. Agency which is registered ICCRC consultant can provide the right information and guidance for the immigrant aspirants to invest.