Investor Venture Capital Pilot Program IIVC
One of the most recent changes that is likely to be on your ICCRC Full Skills Exam is the Immigrant Investor Venture Capital Pilot Program.
Through the IIVC, Canada is looking for experienced business immigrants with skills and abilities that will help them integrate successfully into the Canadian society while contributing to the country’s economic development.
Citizenship and Immigration Canada (CIC) received permanent resident applications from January 28 to February 11, 2015 and decided to extend the period until April 15, 2015 or until a cap of 500 applications is reached, from which approximately 60 will be randomly selected.
Don’t worry, all of our materials have you covered to make sure this new program doesn’t make your ICCRC Full Skills Exam more difficult.
To apply to the IIVC, the applicant must:
- Demonstrate a legally obtained net worth of at least $10 million CAD from lawful, profit-making business activities. Personal net worth acquired by inheritance or in the value of your primary residence will not count. If selected, you will be required to obtain a due diligence report at your expense from one of the designated service providers.
- Agree to make a non-guaranteed investment of $2 million CAD, paid into the Immigrant Investor Venture Capital Fund for a period of 15 years. This fund will be invested in Canadian-based start-ups with high growth potential and will be managed by BDC Capital.
- Proven language proficiency in English or French at a CLB 5 level.
- Present valid education credentials which can be a Canadian post-secondary degree, diploma or certificate; or a foreign education credential validated by an original Educational Credential Assessment (ECA) report from a CIC-designated organization.
Selected applicants for the IIVC will receive a decision on their applications within approximately six months of submitting all required documentation.
The Immigrant Investor Venture Capital Pilot Program IIVC is valid in all provinces except Quebec.