Investor Class (Federal)
2015 – Immigrant Investor Venture Capital Pilot Program
The government of Canada will give permanent resident status to around 50 high-net-worth immigrant investors, as well as their spouse or common-law partner and dependent children under the age of 19, under its new Immigrant Investor Venture Capital Pilot Program. The government says that the program, which is scheduled to begin accepting applications in late January, 2015, aims to attract experienced millionaire investors who will contribute to economic growth and prosperity. Eligible candidates must:
- demonstrate a legally obtained net worth of at least CAD $10 million derived from lawful, profit-making business activities, which will be verified by a designated due diligence service provider. Only applicants selected for processing will be required to obtain a due diligence report from a designated service provider;
- make a CAD $2 million non-guaranteed investment for 15 years into the Immigrant Investor Venture Capital fund. These funds will be invested in innovative Canadian-based start-ups with high growth potential;
- prove language proficiency in one of Canada’s official languages, either English or French; and
- submit education credentials: a Canadian post-secondary degree, diploma or certificate, or proof of a completed foreign education credential and an equivalency assessment from a designated organization.
Citizenship and Immigration Canada (CIC) will accept a maximum of 500 applications for review within a specified period to be announced in January, 2015. Applications will be selected randomly for processing until approximately 50 approved applications are finalized. Applications that are not retained will be returned to the applicant.
CIC aims to grant a decision on each application selected for processing within six months of receiving the complete applications.