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Canada all Set to Launch Immigrant Investor Venture Capital Pilot Program

December 2014, 18
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Canada to Launch Immigrant Investor Venture
The Citizenship and Immigration Minister of Canada (CIC), Chris Alexander has made an announcement with regards to the launch of a new pilot program termed as Immigrant Investor Venture Capital in January 2015.

The new program is designed to entice business immigrants with valid experience and who can invest in Canadian economy and create jobs along with contributing to the betterment of the economy.

The new pilot program forms a part of the transformational reforms that are set to build a flexible and fast immigration system.

Besides investing $2 million for a maximum period of 15 years and holding a net worth of 10 million dollars, foreign investors are required to satisfy education and language criteria and must hold investment or business experience. This will guarantee that foreign investors will have a strong effect on the economy and those accepted for permanent residency will be prepared to assimilate with the Canadian business landscape and society.

The new pilot program will begin accepting applications in late January 2015 and paves path for permanent residence to around 50 immigrant investors and their families. The initiation of this program accomplishes the Canadian government’s commitment in Economic Action Plan 2014 to build a more focused and successful pilot program, which will ensure that foreign nationals who come to Canada can benefit the economy.

Alexander said that the government is focused on building an immigration system that addresses the economic and labor needs of the country. With the introduction of the pilot program, they are planning to attract investors who can make a significant investment and who posses required qualifications and business experience that is required to succeed in Canadian economy.

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