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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.
To apply to the IIVC, the candidate 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.