Know if Manitoba PNP is your Canada immigration alternative
There are several Canadian Immigration options available for businessmen and investors that includes, Immigrant Investor program, self employed program, Provincial nominee programs and Entrepreneur category.
Canada Immigrant Investor program (IIP) is the most preferred and popular program for businessmen and investors. Applicants unable to meet the net worth and management experience requirements of the IIP are advised to file an application under the Manitoba provincial Nominee program (PNP) or British Columbia Provincial Nominee program for Businessmen and investors.
- It requires a personal net worth of just CAD $350,000 and a minimum equity investment amount of CAD $150,000 in Manitoba.
- Business experience is not a must and even senior executives and management professionals with at least three years experience can qualify for and apply under this option.
- Exploratory visit to Manitoba and submission of a business plan as a part of the application process is a must
- It requires an interest free Cash Deposit to the Government of Manitoba in the amount of CAD $75,000 guaranteeing the establishment or purchase of a business in Manitoba.
- This cash deposit is besides the minimum CAD $150,000 that he must make in Manitoba and additional funds that he must take along towards settlement.
- The Cash Deposit will be released when the investment is made and the intended business is undertaken.
- The applicant will loose this deposit if – post visa approval- the applicant does not meet visa conditions, including making the minimum investment and taking up the intended business.
- The applicant must have at least Basic English Language skills
- Overall current processing delays are around 12-18 months. This is subject to change without any notice.
There is no doubt that this program offers an attractive alternative option for businessmen and investor applicants whose net worth is under CAD $500,000. It is however, a conditional visa that requires the applicant to meet host of conditions including making an exploratory visit, providing an acceptable business plan and making an interest free security deposit of CAD $75,000.
Post visa, he must do business in one of the preferred and identified areas and in line with the business plan. He must live and work in the Manitoba province and if he does not do so, he can loose the deposit of CAD $75,000.
One needs to account for costs towards the application, exploratory visit and related costs and business plan costs as also the opportunity towards lost interest on deposit of CAD $75,000.
Manitoba is one of the coldest regions of Canada and applicants are well advised to consider this aspect in mind. Compared to Ontario, Quebec and British Columbia, Manitoba is a small province and hence offers limited business opportunities.
However, this is an excellent program for those intending to make province their home and in a position to meet all conditions leading up to refund of deposit.
One has an advantage of getting
residency of one of the upcoming provinces of Canada and in addition the start up costs for business as also cost of living is low compared to larger provinces like Ontario, British Columbia and Quebec.
Businessmen, investors and high net worth individuals having reservations on account of above conditions should seriously review the unconditional Immigrant Investor program.