New Immigrant Investor Venture Capital Program
How do you qualify?
- Have a language proficiency level of CLB 5;
- Have a net worth of $10 million if you have a Canadian Educational credential (or foreign educational credential assessed already) of 1 year post-secondary education or more; OR $50 million if you don’t have such education;
- Agree to provide $2 million to the Business Development Bank of Canada (we have no detail as to what or how or terms).
Only 500 applications are available between January 28th and February 11th. After February 11th, they will RANDOMLY draw for 60 applications out of 500 submitted applications.
If selected (those 60 applicants), they must go through an assessment done by one of several agencies (KPMG, Ernst & Young or PriceWaterhouseCoopers, for example) to prove that their net worth was acquired legally.
We still do not have any details as to the “how to apply” or “what terms for the investment of $2 million” at this point. Ref: http://canadagazette.gc.ca/rp-pr/p1/2015/2015-01-24/html/notice-avis-eng.php#ne2
If you have any individual questions or concerns, please contact our office for more customized consultation for your unique situation. Please note that this posting is for general information only and is not to be considered binding or official legal counsel since situations will vary and can be complicated. The content in this post is current as of the day of entry. Due to the changing nature of Immigration law, the information in this entry may or may not still be applicable