Deposits and Deposit Agreements

Farm Business Intent | Guidelines for Preparation of the Summary of Farm Business Intent | Eligible Farm Business Investments | Deposits & Agreements | Accumulation of Net Worth | Notarized/Certified Document Copies | Substituted Evaluation

A main requirement of the program is that the immigrant must invest in a farm business in Manitoba and undertake an active role in management and operation of the farm operation. To further emphasize this point, a deposit of CDN$75,000.00 is required by all approved applicants under the Manitoba Provincial Nominee Program (FSRI).

When an applicant has been approved under the Provincial Nominee Program for Business (FSRI), a letter of approval is sent to the applicant (and consultant or lawyer if applicable). The letter contains a Deposit Agreement (contract) outlining the requirements of the program and is to be signed and dated by the applicant. Instructions on how to wire transfer their deposit in the amount of CDN$75,000.00 are provided.

This deposit is refundable upon completion of the requirements of the Deposit Agreement with the program. The funds will be held by the Manitoba Development Corporation (agent for the Province of Manitoba) for a period of two years from the date of landing, usually giving the immigrant adequate time to establish a business. Extensions will be considered on a case by case basis and must be approved in advance by the Business Settlement Office.

No interest will be paid on the deposit. Interest earned on deposits is used to fund program resources, including the establishment of the Business Settlement Office.