Canada has a new immigration program for rich businessperson from other countries of the world known as Immigrant Investor Capital Venture pilot program. There are only 60 spots available for the program so it is no surprise if these are filled very quickly. If you are an investor or businessperson with high net value, and planning to obtain Canadian immigration through investment, then you must know the eligibility criteria for the investor immigration program.
There are four basic requirements which the foreign investor must meet in order to qualify to apply for the Immigrant Investor Venture Capital program including net worth, required investment, language skills and educational qualifications. All the applicants must meed the following 4 requirements of the investor immigrant program:
1. Net Worth
The net worth of the potential applicant must be at least CA$10 millions. You should be able to provide documentary evidence that the net worth was acquired lawfully through business and investments. After the initial assessment of the application, Citizenship and Immigration Canada will ask the applicant to provide a due diligence report from a designated organizations to support their application. Foreign investors can select any of the designated organization and obtain the due diligence report after paying the service fee.
2. Investment in Venture Capital Fund
Foreign investors must make a non-guaranteed minimum investment of CA$2 millions in a venture capital fund which is managed by the subsidiary of Business Development Bank of Canada for a minimum period of 15 years. The return on the investment will depend on the performance of the venture capital fund and proceeds can be taken out after 15 years.
3. Language Skills
Foreign investors must provide proof of their lanaguage skills in English or French in the form of a test result from any of the following organizations:
- CELPIP: Canadian English Language Proficiency Index Program
- IELTS: International English Language Testing System
- TEF: Test d’évaluation de français (French only)
The must demonstrate language proficiency at a level which is equivalent to Canadian Language Benchmark (CLB) 5 in either English or French. In terms of IELTS test bands, the minimum required is 5 in each of the four proficiencies speaking, reading, writing and listening.
4. Educational Qualifications:
The basic requirement for the Immigrant Investor Venture Capital program is a completed Canadian post-secondary degree, diploma or certificate of at least one year. Applicants who do not have Canadian qualification must obtain assessment from designated organization that their foreign education is equivalent to a completed Canadian post-secondary degree, diploma or certificate of at least one year.
If you are foreign investor and meet all the above criteria then you should apply for Canada immigration if you are looking to immigrate to country that is full of opportunities.