Manitoba- a key Canadian province has announced some crucial changes to its existing Manitoba Provincial Nominee Program-Business (MBNP) stream. This particular business stream will now be called as the Business Investment Stream (BIS). The new stream will be divided into two key pathways, i.e. Entrepreneur Pathway and a Farm Investor Pathway. Lets know more about this new stream.
Business Investment Stream (BIS) of MPNP
Manitoba Provincial Nominee Program (MPNP) is one of the most popular immigration programs in Canada and changes to its business stream were on cards for quite some time now. The existing stream at now has been closed by the provincial government for the new EOIs (Expression of Interests). It will now be replaced by new BIS stream, which will be functional in the first quarter of the next year (probably in March 2018).
New Changes in the BIS
The Business Investment Stream of Manitoba Provincial Nominee Program (MPNP) shall hire and nominate competent business investors and entrepreneurs from across the planet, who have the aspiration and capability to begin or buy a businesses in the province of Manitoba. Such BIS applicants will have to begin or buy a businesses in Manitoba within first 24 months of their entrance in Canada on a temporary work permit. These candidates will no longer need to submit a prior sum of $100,000 to the provincial government of Manitoba.
In place of deposit, the candidates will have to sign an agreement (i.e. Business Performance Agreement) for establishing a new business or starting a new one. Consequently, the Manitoba Provincial Nominee Program shall issue a letter of support to the applicant for temporary work permit. The new changes in MPNP business stream shall make certain that the new applicant investors are making investment in a business that create significant jobs in the province and hence, make valuable contribution to the economy of the city.
Key Pathways of BISThe BIS will have two key pathways:
The rest of the points or criteria about this new Business Investor Stream (BIS) shall be revealed in first month of 2018, i.e. January.
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