Choosing the right Permanent Residency by Investment Program in Canada
Over the last few years, Canadian business immigration programs have experienced a number of changes: federal programs have been retired while some simply phased out due to lack of interest from potential applicants. However, the Government of Canada recognizes the benefits foreign investors and their capital bring to the provinces and the impact that qualified businessmen and women have made upon Canadian economies. Even more, Canada’s immigration programs have facilitated the revitalization of local businesses and creation of jobs.
As we have discussed in previous blogs, choosing the right Canadian Residency by Investment Program can be a stressful matter for applicants, especially with twenty programs to research and discuss with family and immigration professionals. When it comes to Canadian immigration, there are a number of programs that are both popular and successful. One of these programs is the Manitoba Provincial Nominee Program for Business (MPNP-B), which aims to attract qualified business owners or those with a minimum of three years senior management experience, among other requirements.
So what makes the MPNP-B so desirable for those seeking immigration opportunities in Canada? Let’s take a moment to weigh out the many benefits the MPNP-B has to offer applicants and their families.
Program requirements: Manitoba’s business stream
It’s true that all Canadian business immigration programs have specific requirements for applicants, including business experience, acquired net worth, and investment amounts. The MPNP-B is recognized as one of Canada’s most popular immigration by investment programs and second only to the Quebec Immigrant Investor Program (QIIP). Requirements significantly vary between programs and can become a deciding factor for those seeking immigration to Canada.
Like the QIIP, the MPNP-B grants Canadian permanent residency to successful applicants and their families. However, net worth and investment amounts for the MPNP-B are much lower than the QIIP. With the MPNP-B, applicants must provide documentation of a legally-acquired net worth of CAD $350,000 and make a CAD $150,000 investment by establishing a new business, purchasing an existing one, or applying with a business partner. Compared to the QIIP net worth requirement of CAD $1.6 million and investment amount of CAD $800,000, the MPNP-B offers a more economically sound option for businessmen and women.
It is important to note that while net worth and investment amounts for the MPNP-B are lower, additional requirements such as location of residency, language skill, business experience, and active participation in a business venture are not elements required by the QIIP. For these reasons, weighing out qualifications and benefits are central to choosing the right Canadian business immigration program.
Economic advantages: Manitoba’s business sectors
For business-minded men and women, finding the right location to start or expand a business is one of the most important factors when deciding where to immigrate. While there are many options to consider in Canada, the province of Manitoba offers investors long-term economic stability for big or small businesses, including a solid labor force and a low unemployment rate. Manitoba’s overall economy is recognized as not only diverse, but one of the main strengths for the province’s many business sectors.
Although Manitoba’s landscape has a wealth of lush farmland and natural resources, the province does not rely on any one major industry to sustain the economy. However, manufacturing does account for the largest economic sector, with goods such as furniture, doors, and other household items accounting for more than 12% of Manitoba’s GDP. For MPNP-B applicants, the province is rich in business opportunities to explore.
Quality of life: Manitoba’s family-friendly activities
Outside of the workplace, Manitoba provides an abundance of leisurely and cultural incentives for families to enjoy, whether in prairie towns or major cities. From a variety of sports events to endless scenic wilderness in national parks, recreational activities and spending quality time as a family is something all ages can enjoy. However, attractive landscapes and sports are not the only things Manitoba has to offer. Residents can also take advantage of cultural attractions such as museums, art exhibitions, public parks, and theatre events in the capital city of Winnipeg.
Multiculturalism: Manitoba’s diverse population
Canada is known for its celebration of diversity and multiculturalism, and Manitoba is no exception and one of the many reasons newcomers make the province their top choice to live in. Since 2013, Manitoba has welcomed over 30,000 immigrants, with the MPNP-B bringing in more than 70% of all foreign nationals to the area. In addition, Manitoba takes part in Canadian Multiculturalism Day, an annual event celebrated across the provinces.
Promoting unity and diversity is a staple of the Government of Canada, and with nationalities from over 180 countries, citizens and residents recognize the benefits immigration brings to their community and local economies. In Manitoba, differences in culture and language are fundamentally united by shared values, a sense of equality, law, and civic responsibilities. Residents of the province view their multicultural heritage and diversity as points of strength and pride.
With parts of the world increasingly viewing immigration as a negative aspect of societal and economic growth, Canada welcomes the business skills and innovation foreign nationals have to offer the country. Manitoba is an excellent option for individuals with qualifying business and senior managerial experience seeking Canadian permanent residency through investment. Even more, applicants and their families can enjoy a lifestyle that embraces cultural diversity and provides a multitude of recreational activities everyone can enjoy—why wouldn’t you choose Manitoba?
For more information on the Manitoba Provincial Nominee Program for Business, please click here.
For more information on Canadian immigration programs, please click here.
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