If you`re planning to immigrate to Manitoba through the Provincial Nominee Program (PNP), you`ll need to sign a deposit agreement as part of the application process. This agreement serves as a guarantee that you`ll follow through with your plans to settle in Manitoba and contribute to the province`s economy.
So, what exactly is a deposit agreement? Essentially, it`s a legal document that outlines the financial commitment you`re making to Manitoba as part of your immigration application. When you sign the agreement, you`ll be required to put down a deposit of $100,000 CAD, which will be held by the province until you fulfill certain obligations.
These obligations typically include:
– Living in Manitoba for a certain period of time (usually two years)
– Starting or buying a business in the province
– Investing a certain amount of money in your business (typically at least $150,000 CAD)
– Creating jobs for Manitoba residents
If you fulfill all of these requirements, your deposit will be returned to you in full at the end of the designated period. However, if you don`t meet all of the obligations outlined in the agreement, you may forfeit some or all of your deposit.
It`s worth noting that the deposit agreement is just one part of the Manitoba PNP application process. You`ll also need to meet other eligibility criteria, such as having a certain level of education and work experience, before you can be nominated by the province for permanent residency.
If you`re considering applying to the Manitoba PNP, it`s important to consult with an immigration lawyer or consultant who can help you navigate the complex application process and ensure that you understand all of the obligations associated with the deposit agreement. With the right support and preparation, you can increase your chances of a successful application and a positive immigration experience in Manitoba.