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The government of Canada will give permanent resident status to around 50 high-net-worth immigrant investors and their families under a new investor pilot program. The government says that the program aims to attract experienced millionaire investors who will contribute to economic growth and prosperity.<\/p>\n
Under the terms of the Immigrant Investor Venture Capital Pilot Program, which will begin accepting applications in late January, 2015, each investor will be required to have a net worth of $10 million and make a non-guaranteed investment of $2 million over 15 years. These funds will be invested in innovative Canadian-based start-ups with high growth potential.<\/p>\n
Candidates must prove proficiency in either English or French, as well as post-secondary education credentials. 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.<\/p>\n
“Through the launch of this pilot program, we are attracting investors who can make a significant investment and who have the education and proven business or investment experience necessary to achieve success in Canada,” said Minister of Citizenship and Immigration, Chris Alexander.<\/p>\n
Industry Minister James Moore said the pilot program was part of Canada’s efforts “to attract experienced business leaders to Canada while leveraging their business expertise and personal investments.”<\/p>\n