International investors with a personal net worth of CDN $10 million or more, the skills and abilities needed to contribute to the Canadian economy and integrate into Canadian society, may be eligible to apply for permanent residence under the Immigrant Investor Venture Capital (IIVC) Pilot Program.
For immigrating to Canada through the Immigrant Investor Venture Capital Pilot Program, you must meet certain criteria. Otherwise, you will get a rejection. Also, you may need Canada investor visa for this program and you must plan to not live in the Quebec province.
The rundown of main requirements:
Personal net worth and proof of it
You must have a personal net worth of CDN $10 million or more. You must have obtained it through legal, private sector business or investment activities.
Pay attention that personal net worth in the value of your primary residence or acquired by inheritance will not count towards the personal net worth requirement.
Besides, you may have to obtain a due diligence report at your outflow. This report is an independent validation and examination of your past investment or business experience, personal net worth source of funds. You can get it from one of the designated service providers:
- Deloitte Forensic Inc.
- BDO USA, LLP
- KPMG LLP
- Raymond Chabot Grant Thornton Consulting Inc.
- PricewaterhouseCoopers (PwC) LLP
The report will comprise the service provider’s opinion as to whether you obtained your capital lawfully, in investment activities or private sector business. It will also show any potentially negative information about your business for officer consideration.
- You are responsible for selecting a designated service provider, submitting the required documents to them, and paying the necessary fees. And you will need to submit this report to CIC within the particular timeframe.
- You do not need to immediately obtain a due diligence report when applying to the IIVC Pilot Program. And you will get a request to obtain it only if your application is suitable for our second stage review.
Risk venture capital fund investment
You must be able to and willing to make an at-risk investment (non-guaranteed) of CDN $2 million in the Immigrant Investor Venture Capital Fund for approximately 15 years. That can qualify you for investment immigration.
However, this would be an at-risk investment, so you don’t have a guarantee of return. It is possible that you could lose some or your entire venture.As with any venture capital investment, you could get proceeds over time or at the end of the investment term. They will depend on the performance of the fund, on its gains or losses, including fees and expenses incurred to manage it.
You must prove your proficiency in French or English in all four language abilities and get approved test results of minimum CLB 5 in either language (must be less than two years old). Also, you need to add it to your application when you submit.
You must have and at least one year of finished Canadian post-secondary degree, diploma or certificate of a foreign equivalent with ECA report. The conclusion stated in your original ECA report must match one of the acceptable assessment outcomes for you to be qualified to apply. You must add it to your application, too.
You must be admissible to apply under the Immigrant Investor Venture Capital Pilot Program. Some people are inadmissible, which means that they are not allowed to enter Canada. You should be aware that there are plenty of things that can make you inadmissible. For example, involvement in criminal activity, in organized crime or human rights violations. Besides, you can also be inadmissible for financial reasons, health or security.