The Canadian province of Manitoba has provided some details regarding expressions of interest and applications made under its Business Investor Stream, a category of the Manitoba Provincial Nominee Program (MPNP). The program was first launched in February, 2015.
This stream operates on an Expression of Interest (EOI) system whereby prospective applicants submit their intention to apply to the program. The most qualified are invited to apply by receiving a Letter of Advice to Apply (LAA) from the MPNP.
As of January 4, 2016, 340 LAAs (approximately 10 LAAs per week) have been issued to the candidates with scores ranging from 98 to some EOI’s with a score of 80. The MPNP has received 212 Nomination Applications from applicants who were issued a LAA. After receiving a LAA, candidates have 60 days to submit their application to the program.
Notably, 59 percent of all LAAs issued have been issued to citizens of China, followed by Iran, India, and Korea, respectively.
Among other requirements, In order to be eligible for this stream applicants must have a minimum verifiable personal net worth of CDN $350,000, as well as a minimum of three years of successful business ownership and management experience or executive-level experience as senior manager of a business within the past five years.
Click here to learn more about the MPNP Business Investor Stream.