News & Updates: Canada

13-02-2015: Canada extends intake period for Investor Venture Capital Program

The Citizenship and Immigration Canada (CIC) has extended the deadline for applications under the Immigrant Investor Venture Capital (IIVC) Pilot Program. The previous deadline on 11 February 2015 has been extended until 15 April 2015. The government of Canada will give permanent resident status to up to 60 high-net-worth immigrant investors and their families under the pilot program. The government says that the program aims to attract experienced millionaire investors who will contribute to economic growth and prosperity. Each investor will be required to have a net worth of $10 million CAD and make a non-guaranteed investment of $2 million CAD over 15 years. These funds will be invested in innovative Canadian-based start-ups with high growth potential. Applicants selected for processing will also be required to obtain a due diligence report demonstrating that they obtained net worth of at least $10 million from lawful, profit-making business activities.

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