Citizenship and Immigration Canada has announced a pilot program to attract wealthy individuals with a promise of permanent residency. Much like the past investor program, this new Immigrant Investor Venture Capital pilot program will require a substantial monetary investment into Canada before permanent residency is granted - $2 million dollars. The amount, which is not guaranteed to be returned, will be invested in "innovative Canadian-based start-ups with high growth potential."
Generally, applicants will require:
- A net worth of $10 million dollars;
- A minimum of 5 CLB in reading, writing, speaking, and listening in English/French;
- Post secondary education of at least one year (individuals with over $50 million dollar net worth is exempt from this requirement).
The class is capped at 500 applicants, with 50 being accepted randomly from this group. CIC will begin to accept applications for the IIVC Pilot Program later in January.