The Government of Canada has reopened its Immigrant Investor Venture Capital (IIVC) Pilot Programme, starting from 25th May and lasting until 30th December 2015.
The IIVC Pilot Programme targets high investments and immigrants with skills and abilities, with the objective of stimulating Canada’s economy and promoting growth.
Under this pilot program, immigrant investors will be required to make a CDN$2 million non-guaranteed investment in a new IIVC Fund for a period of approximately 15 years, be proficient in English or French, have post-secondary education and have proven business or investment experience.
The investments made through this pilot will be used to fund innovative Canadian start-ups with high growth potential.
Citizenship and Immigration Canada has pledged to process the first 60 complete applications received (including complete applications received in previous intake periods). Up to an additional 60 applications will also be placed on a waiting list.
“The Immigrant Investor Venture Capital Pilot Program will greatly benefit the Canadian economy by attracting immigrant investors with strong business skills,” said Canada’s Citizenship and Immigration Minister over the weekend. “Keeping programme standards high will ensure that Canadians continue to benefit from our immigration programmes. The IIVC Pilot Programme accomplishes this, and we warmly welcome anyone who wants to apply.”
Interested candidates are being strongly encouraged to schedule a language test and to get their foreign educational credentials assessed by a designated organisation, if required, as soon as possible to ensure that they are able to submit their application before the programme closes.
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