Government Unveils New Immigrant Investor Venture Capital Pilot Program

Canada will unveil a pilot program in January 2015 to attract experienced business immigrants who can actively invest in the Canadian economy, stimulating innovation, economic growth an

QUICK FACTS

Immigrant investor programs are currently in place in more than 30 countries worldwide.

The Government of Canada ended the previous Immigrant Investor Program and the Entrepreneur Program as neither program was determined to have contributed to Canada’s economic growth. Research indicated that immigrant investors under the previous programs were less likely than other immigrants to stay in Canada over the medium to long term.

By requiring a non-guaranteed investment of $2 million and including more selection criteria for skills and abilities, the Immigrant Investor Venture Capital Pilot Program will test a new approach to immigrant investor programming in Canada.

Investments into the Immigrant Investor Venture Capital fund will be used to seed innovative Canadian start-ups with high growth potential.

Immigrant investors who are selected will be required to obtain a due diligence report from a designated service provider in order to prove that their net worth of at least $10 million has been obtained from lawful, profit-making business activities.