On December 16, 2014, Citizenship and Immigration Canada announced the details of the Immigrant Investor Venture Capital Pilot Program which is set to open January 2015.
The Immigrant Investor Venture Capital Pilot Program is part of an ongoing set of changes that emphasize the Government’s commitment to build a fast and flexible economic immigration system by attracting experienced business immigrants who can invest in the Canadian economy, stimulating innovation, economic growth and job creation.
Immigrant investors will be required to have a net worth of $10 million and make an investment of $2 million for a period of 15 years. In addition, investors will be required to meet eligibility requirements related to language, education and previous business or investment experience.
The new program, which leads to permanent residency, will be open for approximately 50 immigrant investors and their families and will begin accepting applications in late January 2015.