Government of Canada unveils new Immigrant Investor Venture Capital Pilot Program
On December 16, 2014, Citizenship and Immigration Minister Chris Alexander made official the details around the Immigrant Investor Venture Capital Pilot Program which is to open in January 2015.
The new Immigrant Investor Venture Capital Pilot Program is part of a series of transformational changes that build on the Government’s commitment to build a fast and flexible economic immigration system by attracting experienced business immigrants who can actively invest in the Canadian economy, stimulating innovation, economic growth and job creation.
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 new pilot program will begin accepting applications in late January 2015 and will provide a pathway to permanent residence for approximately 50 immigrant investors and their families.