The new Immigrant Investor Venture Capital Pilot Program is part of a series of transformational changes that build on the Canadian Government’s commitment to build a fast and flexible economic immigration system.
If you are an international investor with the skills and abilities needed to integrate into Canadian society and contribute to our economy, you may be eligible to apply for permanent residence under the Immigrant Investor Venture Capital Pilot Program.
In addition to making an investment of $2 million for a period of 15 years and having a net worth of $10 million, immigrant investors will be required to meet certain program eligibility criteria related to language and education, and have proven business or investment experience. This will ensure that immigrant investors will have a strong impact on the Canadian economy, and that those admitted for permanent residence will be well prepared to integrate into the Canadian business landscape and society.
The Government of Canada ended the previous Immigrant Investor Program and the Entrepreneur Program as neither program was determined to have contributed to Canada’s economic growth. Research indicated that immigrant investors under the previous programs were less likely than other immigrants to stay in Canada over the medium to long term.
By requiring a non-guaranteed investment of $2 million and including more selection criteria for skills and abilities, the Immigrant Investor Venture Capital Pilot Program will test a new approach to immigrant investor programming in Canada.
Investments into the Immigrant Investor Venture Capital fund will be used to seed innovative Canadian start-ups with high growth potential.
Immigrant investors who are selected will be required to obtain a due diligence report from a designated service provider in order to prove that their net worth of at least $10 million has been obtained from lawful, profit-making business activities.