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Immigrant Investor (IIVC)

The Immigrant Investor Venture Capital (IIVC) Pilot Program is open for applications from January 28 to February 11, 2015.

If you are an international investor with the skills and abilities needed to integrate into Canadian society and contribute to our economy, you may be eligible to apply for permanent residence under the Immigrant Investor Venture Capital (IIVC) Pilot Program.

Determine your eligibility

Find out if you are eligible to apply for permanent residence as an immigrant investor under the IIVC Pilot Program.

Citizenship and Immigration Canada (CIC) will accept a maximum of 500 applications under the Immigrant Investor Venture Capital Pilot Program from January 28, 2015 to February 11, 2015. Applications will be randomly selected. Up to 60 applications will be approved for the IIVC Fund.

You must meet all of the requirements listed below to be eligible to apply under the Immigrant Investor Venture Capital Pilot Program. You must also plan to live outside the province of Quebec.

Personal net worth

You must have a personal net worth of CDN $10 million or more. Your net worth must have been acquired through lawful, private sector business or investment activities.

Personal net worth acquired by inheritance or in the value of your primary residence will not count towards the personal net worth requirement.

Proof of personal net worth

Once CIC has deemed the applications complete, CIC will require selected applicants to obtain a due diligence report at their expense from one of the following designated service providers:

  • BDO USA, LLP
  • Deloitte Forensic Inc.
  • EY
  • KPMG LLP
  • PricewaterhouseCoopers (PwC) LLP
  • Raymond Chabot Grant Thornton Consulting Inc.

The due diligence report is an independent examination and validation of your past business or investment experience, source of funds and personal net worth.

The report will include the service provider’s opinion as to whether your wealth was acquired through lawful, private sector business or investment activities. Their report would also flag any potentially negative information for a CIC officer to consider.

Only selected applicants will need to obtain a due diligence report, at the request of CIC. The report will only be requested once the applications have been deemed complete. If you are asked to obtain a due diligence report, you will be responsible for selecting a designated service provider, submitting all required documents to them for review, and paying all required fees. CIC will specify the date by which the report must be received.

Non-guaranteed investment

You must be willing and able to make an at-risk investment of CDN $2 million in the Immigrant Investor Venture Capital (IIVC) Fund.

If you are one of the immigrant investors selected under this program, you will be required to enter into an agreement with CIC committing a sum of CDN $2 million to the IIVC Fund for approximately 15 years. The investment would be at-risk, meaning there would be no guarantee of a return and the possibility that you could lose some or all of your investment. You could also receive proceeds from the IIVC Fund, based on the performance of the investments of the fund.

Find out more about how investments to the Immigrant Investor Venture Capital Fund will be managed.

Language skills

You must:

  • prove your proficiency in English or French in all four language abilities (speaking, reading, listening and writing)
  • include the original language test results when you apply
    • your language test results must be less than two years old on the day CIC receives your application.

If you do not provide original language test results that show you meet the minimum language levels when you apply, your application will not be considered complete and therefore will not be selected.

Education

You must have:

  • a completed Canadian post-secondary degree, diploma or certificate of at least one year

    OR

  • a foreign equivalent, as validated by an original Educational Credential Assessment (ECA) report from a CIC-designated organization. The ECA report must indicate that your completed foreign education credential is equal to a completed Canadian post-secondary education credential of at least one year.

The outcome stated in your ECA report must match one of the acceptable assessment outcomes for you to be eligible to apply.

An original ECA report is required from all applicants with a foreign education credential, and will be used to determine whether you meet the education requirement. If you do not submit the original ECA report when you apply, your application will not be considered complete, and therefore will not be selected.

If you can demonstrate that you have a personal net worth of $50 million or more acquired through lawful, private sector business or investment activities, you can request an exemption from the education requirement when you apply, using the form provided by CIC.

Inadmissibility

Some people are inadmissible – they are not allowed to come to Canada. Many things can make you inadmissible, such as being involved in criminal activity, in human rights violations or in organized crime.

You can also be inadmissible for security, health or financial reasons.

If you are inadmissible to Canada, you cannot apply under the Immigrant Investor Venture Capital Pilot Program as your application will be refused.

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