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Canadian Immigrant Investor Venture Capital Pilot Program on Track

January 2015, 20
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Canadian Immigrant Investor Venture Capital Pilot Program
Here’s good news for wealthy immigrant investors. Now, the federal government of Canada has initiated the much-awaited Immigrant Investor Venture Capital Pilot Program, which grants permanent residency to almost 50 high-net-worth immigrant investors and to their families.

The government expects that the new program will entice experienced millionaire investors who will be able to contribute for the betterment of their economy. According to the new pilot program, every investor will need to hold a net worth of $10 million and must invest $2 million over a period of 15 years of non-guaranteed type. The government said the funds will be allocated for innovative based Canadian start-ups with good growth.

Apparently, candidates must demonstrate their proficiency in either French or English and post-secondary education qualifications. And, prospective applicants are required to get a due diligence report stating that they acquired net worth of minimum $10 million from endorsed, profit-making business activities.

Citizenship and Immigration Minister of Canada, Chris Alexander stated that the new pilot program will lure immigrant investors who are interested to make a significant investment and who holds the required educational qualifications and investment or business experience that is required to succeed in Canada.

Industry Minister, James Moore stated that the new pilot program is a part of Canada’s efforts to bring experienced business leaders to Canada while making use of their personal investments and business expertise.

On the other hand, the former Immigrant Investor Program (IPP) necessitates applicants to hold a net worth of $1.6 million to loan Canada $800,000 interest-free for a period of five years.

Notably, 36,973 investor immigrants entered British Columbia between 2005 and 2012 under the former IPP.

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