Canada To Launch New Investor Visa Pilot

By Dex Tennyson, for 19 December, 2014

Canada will begin accepting applications for its Investor Venture Capital Pilot Program from late next month.

To be eligible, individuals must have a net worth of CAD10m (USD8.6m), be willing to make a non-guaranteed investment of CAD2m in Canada over 15 years, meet language and education requirements, and have proven business or investment experience.

According to Citizenship and Immigration Canada, the eligibility criteria will ensure that immigrant investors 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 Department expects that the pilot will provide a pathway to permanent residence for approximately 50 immigrant investors and their families.

The program replaces the previous Immigrant Investor and Entrepreneur Programs, which were cancelled after research showed that users were less likely than other immigrants to stay in Canada over the medium- to long-term.

James Moore, the Industry Minister, said that the program "will help build a stronger venture capital environment in Canada and ensure that immigrant investor capital can have a greater long-term impact on our economy."

Chris Alexander, the Immigration Minister, added: "Our Government is focused on building an immigration system that meets Canada's economic and labour market needs."

Tags: Investment | Business | Venture Capital | Canada | Expats | Immigration | Visas And Passports | Business Investment | Immigration |


News Archive