The government of Canada introduced the Investor Venture Capital (IIVC) Pilot Program in 2015 to encourage economic development and employment opportunities in Canada. If you are a business oriented individual and an international investor with solid business acumen, you may be eligible to apply for permanent residency for yourself and your family under this program.
Applicants are eligible to apply for the IIVC Pilot Program if they meet the following requirements:
- Have a personal net worth (accumulated through lawful, private sector business or investment activities) of at least CDN $10 million or more. It is important to note that net worth acquired by inheritance or in value of primary residency will not count towards the personal net worth requirement. For more information, click here. [http://www.cic.gc.ca/english/immigrate/business/iivc/eligibility.asp];
- Are prepared to make a CDN $2 million non-guaranteed investment in the IIVC Fund for a minimum of 15 years;
- Must prove English or French proficiency in all four language abilities (speaking, reading, listening, and writing) by achieving at least (CLB) 5 and include the original language test results when applying;
- Must have either completed Canadian post-secondary degree, diploma or certificate of at least one year OR a foreign equivalent degree validated by Educational Credential Assessment (ECA), report to be included in application (exemptions made if applicant has a personal net worth of CDN $50 million or more).
To learn more about eligibility requirements, feel free to visit here.
If you are a business oriented individual and want a brighter future for yourself and your family and have the financial means to do so under the IIVC program, then apply today! All successful applications have a processing time of 87 months according to CIC website. However, please consider the following points when considering applying under this program:
Personal Net worth
All approved applicants must provide a due diligence report prepared by the government permitted service providers to confirm the source of their wealth (i.e. generated from lawful business or investment activities). The list of designated service providers include:
- BDO USA, LLP
- Deloitte Forensic Inc.
- KPMG LLP
- PricewaterhouseCoopers (PwC) LLP
- Raymond Chabot Grant Thornton Consulting Inc.
There is an at-risk investment required by all applicants under the IIVC Pilot program. As an investor immigrant, all successful candidates are required to make an investment to the IIVC Pilot Program for CDN $2 million. The investment will be committed for approximately 15 years and yields no guarantee of investment from the capital. Even though all applicants are entitled to receive proceeds, such as any investment, there is no fixed rate or term of investment for this particular category and all proceeds are dependent on the performance of the IIVC Fund.
When you should NOT apply
Even though applicants may meet the eligibility requirements outlined above, candidates should not apply to the program if they are inadmissible to Canada for any reason. For those looking to settle in the province of Quebec should also refrain from applying through this category of immigration, as the IIVC program is eligible for all provinces except Quebec.
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