Update on the Immigrant Investor Venture Capital Pilot Program
(Below is a transcription of this video)
Hi, this is Michael Niren, Immigration Lawyer and Founder of VisaPlace.com. Today, I want to talk to you once again, about the new Immigrant Investor Venture Capital Pilot Program. That’s a mouthful. I looked into it in more detail. We have more information about it. I can say, unfortunately, I don’t think it’s a serious program. Why I say that is because I believe 99% of prospective applicants who were interested won’t qualify.
Requirements for the Immigrant Investor Venture Capital Program
First of all, you need an enormous $10 million net worth to qualify. Not only that, the wealth that you’ve accumulated cannot be from inheritance. It has to be from your own business acumen, if you will, your own efforts. Not only that, you have to commit $2 million to an approved venture fund for potentially 15 years. You have to have a minimum education, a post-secondary education, of at least one year. You have to have proficiency in either English or French.
So how many people will qualify? Well, the government makes it even more difficult because they’re accepting 500 applicants and will only choose 60 within a very short time frame. I believe from the end of January till mid-February. This is not a serious program at all. It’s very disappointing. I feel that it’s unlikely that anybody will qualify for this.
If Canada wants to attract investment and investors, this is definitely not the way to do it. This threshold, it’s just completely on a different planet in my opinion. Once the government realizes that they’re not going to have very much interest, perhaps, they’ll get down to reality and come up with a more reasonable program.
Any other information, let us know if you have any questions. Feel free to visit us at www.visaplace.com.
Are you Interested in the Immigrant Investor Venture Capital Program?
If the immigrant investor venture capital program sounds like the best way for you to finally make the move to Canada, VisaPlace can help get your journey started today. All you need to do is use our free online immigration assessment form here or contact us here.
The content and comments of this blog are not legal advise and and may not be accurate or complete. If you require legal advice, contact a licensed legal practitioner directly. If you post on this blog, you assume full responsibility for disclosing your identity to the public and VisaPlace nor its affiliates are not responsible for protecting your privacy nor your identity concerning your participation in our blog and you assume any risks in participating.
Here’s my good advice; Lawyer up. ...and if your looking for a group of lawyers to help with your international affairs regarding visas and work permits; these professionals are top notch. I’ve had a great experience, they got the job done, and my job was very complicated. Rania Abboud, high five to you especially, you set up a great plan for success, replied to my questions very quickly, kept me informed and your very knowledgeable in your field. To everyone else at VisaPlace; Thank you as well. As a business owner myself I immediately recognized the way your team works so effectively! I wish you all the best of success. J.
The team at the Visa place as very thorough in the preparation of my application which I am sure made a difference. They guided the process well to a successful outcome. Would recommend them for sure.
I hired them for my study permit application! I had been denied twice and thanks to them the 3rd try was a success. Lisa Inspektor was my main contact. She is Very nice and polite. I strongly recommend you to go with them! The money you’re gonna spend is gonna be worth it