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Immigrant Investor Venture Capital Pilot Program
Candidates who are international investors, with the skills and abilities required 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.
CIC will accept applications from May 25 to December 30, 2015 and will process the first 60 complete application packages. CIC will also accept up to 60 additional applications that will be placed on a waiting list. The program may close earlier if 60 immigrant investors are approved for permanent residence, or once 60 applications are in process along with 60 applications being on the waiting list.
Potential candidates must meet all the requirements to be eligible to apply under the IIVC Pilot Program:
Plan to live outside the province of Quebec
Have a personal net worth of CDN $10 million or more (acquired through lawful, private sector business or investment activities, excluding those acquired by inheritance, or the value of the primary residence)
CIC will require applicants whose applications can be considered for our second stage review, to obtain a due diligence report at their own expense, from one of the following designated service providers:
BDO USA, LLP
Deloitte Forensic Inc
PricewaterhouseCoopers (PwC) LLP
Raymond Chabot Grant Thornton Consulting Inc.
Willing and able to make an at-risk investment (non-guaranteed) of CDN $2 million in the IIVC Fund for approximately 15 years
Proof of language proficiency CLB 5 in all four skills (speaking, reading, writing, comprehension) from within the past two years
Completed a Canadian post-secondary degree, diploma, or certificate of at least one year
Canadian secondary/post-secondary degree of at least one year, or an original ECA report stating a foreign equivalent as validated by an ECA that matches one of the acceptable assessment outcomes, by:
Comparative Education Service – University of Toronto School of Continuing Studies
International Credentials Assessment Service of Canada
World Education Services
Medical Council of Canada
Pharmacy Examining Board of Canada
If candidates can demonstrate a personal net worth of CDN $50 million or more (acquired through lawful, private sector business or investment activities), the candidate can request an exemption form from the education requirement when applying
Please contact Mamann, Sandaluk & Kingwell LLP and speak directly to one of our immigration lawyers for further assistance about your specific circumstances and whether you qualify for applying for permanent residence under the IIVC pilot program.