Manitoba PNP Deposit Agreement: Everything You Need to Know
Manitoba is one of the most sought-after Canadian provinces for immigration. The Manitoba Provincial Nominee Program (PNP) is a popular immigration program that caters to the needs of skilled workers, international graduates, and entrepreneurs. As part of the program, applicants are required to make a deposit agreement, which is designed to ensure that they are committed to living and working in Manitoba.
What is a Manitoba PNP Deposit Agreement?
A Manitoba PNP deposit agreement is a legally binding document that outlines the terms and conditions of the deposit made by the applicant to the province. The deposit is made by the applicant to show their commitment to living and working in Manitoba, and it is refundable to the applicant after they have fulfilled the terms of the agreement.
Who Needs to Make a Manitoba PNP Deposit Agreement?
All applicants to the Manitoba PNP program are required to make a deposit agreement. This applies to both the Skilled Worker Stream and the Business Investor Stream. The deposit amount varies based on the stream you are applying for and the terms of the agreement.
Skilled Worker Stream Deposit Agreement
Skilled Worker Stream applicants are required to make a deposit of $100,000 CAD. This deposit is held by the Manitoba government and is refunded to the applicant with interest after they have satisfied the terms of the agreement. The terms of the agreement include:
• Living and working in Manitoba for at least two years.
• Making a minimum investment of $150,000 CAD in a Manitoba-based business.
• Participating in an interview with a Manitoba immigration officer to demonstrate their intention to live and work in the province.
Business Investor Stream Deposit Agreement
Business Investor Stream applicants are required to make a deposit of $100,000 CAD or $200,000 CAD, depending on the net worth of their business. This deposit is held by the Manitoba government and is refunded to the applicant with interest after they have satisfied the terms of the agreement. The terms of the agreement include:
• Living and working in Manitoba for at least two years.
• Investing a minimum of $250,000 CAD or $500,000 CAD, depending on the net worth of their business, in a Manitoba-based business.
• Participating in an interview with a Manitoba immigration officer to demonstrate their intention to live and work in the province.
Benefits of Making a Manitoba PNP Deposit Agreement
Making a Manitoba PNP deposit agreement has several benefits. The deposit agreement shows your commitment to living and working in Manitoba, which can increase your chances of being nominated by the province for permanent residency. In addition, the deposit agreement allows you to obtain a work permit and start working in Manitoba while waiting for your permanent residency application to be processed.
Conclusion
The Manitoba PNP deposit agreement is an essential part of the immigration process for those looking to live and work in Manitoba. By making a deposit and fulfilling the terms of the agreement, applicants demonstrate their commitment to the province and increase their chances of obtaining permanent residency. If you are interested in immigrating to Manitoba through the PNP program, consider making a deposit agreement and starting your journey to a new life in Canada.