The immigration of investors has always been a vital part in developing the Canadian economy, as the Canadian government allow foreign high net worth individuals to immigrate to the country based on their intention of significantly contributing to the country’s economy.
The Immigrant Investor venture Capital program in Canada was introduced in the year 2014 as a replacement for the Immigrant Investor Program which it operated for nearly 20 years, this program is basically an initiative from the federal government to attract investors who will bring economic benefit to the country.
The criteria for applying to this program is as follows:
– Applicants must have the intention of investing and residing in any province but Quebec.
– They must demonstrate that they lawfully acquired a net worth of a total 10,000,000 CAD which they accumulated through their private business or investment activities, applicants can demonstrate this through obtaining a due diligence report from one of the service providers designated by the Canadian government who will validate and examine the applicant’s business activities and the source of their accumulated net worth, it is important to know that any income derived from inheritance or the value of applicant’s primary residence is not eligible to be counted within the required net worth.
– Applicants must invest a minimum amount of 2,000,000 CAD, which are not guaranteed to be repaid to the investor, this will be done through an agreement between the applicant and the government, these amounts will be added to the Immigrant Investor Venture Capital Fund to be invested in venture capital for the benefit of Canada, applicants who meet the requirements will be issued a letter by the IRCC (Immigration, Refugee and Citizenship Canada) which will advise them to make the necessary investment within a period of 75 days.
– Applicants must attain the required level of language proficiency in either English or French languages in each of four language skill areas (Reading, Writing, Listening, Speaking).
– Applicants must provide evidence that they have completed a post-secondary educational program of a minimum of 1 year, which can be from Canadian or Foreign credentials.
Applicants must submit their applications to the designated intake office by IRCC (Immigration, Refugees and Citizenship Canada) for processing, where their applications will be assessed and decided upon, and during this period applicants must pass the required medical and security checks, and if they’re approved they will be granted the Canadian Permanent residency.
Immigration, Refugees and Citizenship Canada – Operational Instructions for Immigrant Investor Venture Capital Class