The ICT Start-Up program permits essential personnel from a foreign company to visit Canada on a temporary basis. They are anticipated to open their new office once they arrive in Canada, benefiting both their company and the Canadian economy.

ICT Start-Up Program Benefits

For start-up businesses wishing to develop into a dynamic, booming economic industry, the ICT Start-Up program offers a simple approach. Natural resources, technology, health, and communication are just a few of the industries where Canada is growing steadily. Investing in a Canadian office now might pay out financially in the future.

• You and your family can ive and work in Canada.
• Your children can attend Canadian public schools.
• You don’t need to pass the IELTS.
• You have access to Canadian and US markets for your business.
• You are eligible for Canadian PR after living in Canada for three years.

The ICT Start-Up program is also a good choice for entrepreneurs that want to relocate to Canada. Owners will be able to migrate to Canada without giving up the firm they have worked so hard to develop by forming a Canadian office.

Requirements for ICT Start-Up Program

The following is the requirements for the ICT Start-Up Program:

• Establish a relationship between foreign entity and canadian company
• Investment available – first year operation cost of $150,000 CAD – $200,000 CAD minimum
• Physical address
• Business entity
• Business plan
• Work permit to set up and manage the business
• Display significant benefit to the Canadian economy
• Capability to manage the business
• Prior business experience
• Majority ownership of the company
• No inadmissibility issues

Learn more about the Intra-Company Transfer program.

Do You Want to Bring Your Start-Up Business to Canada?

If so, Contact VisaPlace today. All our cases are handled by competent and experienced immigration professionals who are affiliated with VisaPlace. These professionals consist of lawyers, licensed paralegals, and consultants who work for VisaPlace Legal, an award-winning immigration firm that adheres to the highest standards of client service.

Ready for the next step? Book your 1 on 1 consultation now or call us at 1-888-317-5770.

Have a Question related to your Immigration Needs?

Fill out the FREE Immigration Assessment form and get a response within 24 hours to see if you’re eligible.

The assessment form should take approximately 5-7 minutes to complete. We will get back to you within one business day to let you know if we can help.

The government will focus on bringing foreign entrepreneurs to Ontario towns outside of the Greater Toronto Area, according to Labour Minister Monte McNaughton.

He claims that after starting a new firm or purchasing an existing one in Ontario, these entrepreneurs will be selected for immigration under the province’s economic immigration program.

According to McNaughton, the government would spend $6 million on the new project, which will be recouped through fees paid by immigrants who come to the province to create or purchase enterprises.

He estimates that this immigration stream will produce at least $20 million in corporate investment for the province.

This stream was established by Ontario’s previous Liberal government in 2015, but just two immigrant investors have been nominated since then.

“I see immigration as one of the key economic drivers of Ontario’s growth,” McNaughton said. “There’s an opportunity to create new businesses outside of the GTA, to create more jobs for people across the province.”

According to McNaughton, the plan will aid in the rehabilitation of the Ontario economy following the COVID-19 pandemic.

“We have to be aggressive as we build back better out of the pandemic to recruit entrepreneurs to Ontario,” he said.

Last month, the province of Ontario requested that the federal government increase the number of immigrants authorized under the Ontario Immigrant Nominee Program from 9,000 to 18,000 per year, in order to strengthen the skilled workforce.

According to McNaughton, the province is experiencing a serious labor shortage, which has been exacerbated by the COVID-19 outbreak.

Are You Interested in Immigrating to Ontario as an Investor in 2022?

If so, Contact VisaPlace today. All our cases are handled by competent and experienced immigration professionals who are affiliated with VisaPlace. These professionals consist of lawyers, licensed paralegals, and consultants who work for VisaPlace Legal an award-winning immigration firm that adheres to the highest standards of client service.

Ready for the next step? Book your 1 on 1 consultation now or call us at 1-888-317-5770.

Have a Question related to your Immigration Needs?

Click here to fill out the FREE Immigration Assessment form below and get a response within 24 hours to see if you’re eligible.

The assessment form should take approximately 5-7 minutes to complete. We will get back to you within one business day to let you know if we are able to help.

The Nation Brands Index assesses the image of countries all across the world. They measured 60 countries this year and based their survey results on 60,000 interviews. In past years, they conducted 20,000 interviews to assess the findings of 50 nations.

The countries were graded in six areas based on their perceived quality: exports, government, culture, people, tourism, investment, and immigration.

Immigrating to Canada for Investing

Canada took the top position in the category of immigration and investment, which assesses how well a country can recruit immigrants, overseas employees, and international students. It also assesses public perceptions of each country’s quality of life and business climate.

So many people immigrate to Canada for investment and business opportunities so we are not surprised that Canada won first place! There are several programs for investing in Canada that are available. Learn more about Canada Investor Programs.

Canada also received high results in governance, which assesses public opinions of the government’s competence and impartiality.

The LoE is also your means of sharing with immigration officials any additional information that is not on the submitted papers but that you believe is necessary for them to know.

You do not need to explain each supporting document that you are submitting along with your application – only the important parts you may have been missing or were incorrect in the first place.

When Do I Need to Write a Letter of Explanation Canada?

Here are a few situations when you may find a letter of explanation may be needed:

• Proof of work experience doesn’t include 100% of the required items
• Police certificate wasn’t ready in time
• Proof of funds doesn’t include 100% of the required items

How Do I Write a Letter of Explanation for a Canadian Visa?

Below are some simple guidelines for writing a successful Letter of Explanation:

• Only provide factual information
• Should be short and to the point. (You will want to keep the letter at about 1-2 pages)
• You do not need an index for your documents. The IRCC system gives you a personalized document checklist once you’ve completed all of the fields in the online form.
• You will ONLY want to write the LoE to explain an issue (ex: you didn’t meet the proof of funds or requirements, to explain something in your application which is not clear, etc.)

Remember that your letter will be examined by an immigration agent, not computers, so you will want to write it in a way that will persuade the agent that you have what it takes but just lack this or that piece of paper to prove it.

You will also want to provide any extra proof if it will allow you to build your case – but keep it simple. For example, if your letter of evidence of funds does not include your average account balance for the last six months (as needed), supplement it with bank statements.

How Do I Send a Letter of Explanation?

Make sure the letter of explanation is in the same file format (pdf, docx, etc.) as the document to which it refers. You will want to put the letter on the first page of the file so that it is the first thing the agent reads when they open it. Finally, upload the document normally, on the documents page on your “my application” page, on the “supporting documents” section.

You do not have to merge an LoE with every supporting document you provide along with your application.

Letter of Explanation Format

Below is a sample of a valid letter of explanation:

Do I Need a Letter of Explanation for a Canada Study Permit?

A Letter of Explanation is not a requirement for most when applying to study in Canada as an international student. Some Designated Learning Institutions require students to submit documents as part of the application process, while others do not.

When applying for a study permit, however, it is recommended that you submit a Letter of Explanation since it gives the immigration officer insight into your goals for studying in Canada.

Your LOE might be the deciding factor in getting you a study visa in Canada.

What About for a Canada Visitor Visa?

For the same reasons above, it is always recommended to submit an LoE with your visa application, but not required.

Do You Need Help with Your Canada Visa Application?

If so, Contact VisaPlace today. All our cases are handled by competent and experienced immigration professionals who are affiliated with VisaPlace. These professionals consist of lawyers, licensed paralegals, and consultants who work for VisaPlace Legal, an award-winning immigration firm that adheres to the highest standards of client service.

Ready for the next step? Book your 1 on 1 consultation now or call us at 1-888-317-5770.

Have a Question related to your Immigration Needs?

Fill out the FREE Immigration Assessment form and get a response within 24 hours to see if you’re eligible.

The assessment form should take approximately 5-7 minutes to complete. We will get back to you within one business day to let you know if we are able to help.

What Is NEXUS?

The NEXUS program is for frequent travelers who are looking for a more seamless process when entering the United States or Canada through prior pre-screening. Members of the program will use NEXUS designated lanes found at the northern border ports of entry. By paying one fee, NEXUS members have crossing privileges at air, land, and marine ports of entry that support the program. US Customs and Border Protection (CBP) and the Canada Border Services Agency (CBSA) are cooperating in this joint venture to simplify border crossings for members while enhancing security.

Requirements –

The NEXUS program was created for US citizens, US permanent residents, Canadian citizens, Canadian permanent residents, and Mexican nationals who are members of Mexico’s trusted traveler program (Viajero Confiable) in the US/Canada. If you are under the age of 18, you must have your parent or legal guardian’s consent to participate in the program.

A few reasons why you may be ineligible for the NEXUS program include:

• Provide false or incomplete information on the application
• Have been convicted of any criminal offense or have pending criminal charges or outstanding warrants (including DUI)
• Have been found in violation of any customs, immigration, or agriculture regulations or laws in any country
• Are the subject of an ongoing investigation by any federal, state, or local law enforcement agency
• Are inadmissible to the US under immigration regulation, including applicants with approved waivers of inadmissibility or parole documentation
• Cannot satisfy CBP or Canada Border Services Agency of your low-risk status

How to Apply –

To apply for membership in the NEXUS program:

1. Use the Trusted Travelers Programs (TTP) website to submit an application and go through a registration process
2. Meet the programs eligibility requirements
3. Be admissible in Canada and the United States
4. Pass risk assessments by both countries

New Rules For NEXUS Card Violations

“Canadian Officials Now Unable to Revoke NEXUS Cards Due to Minor Infractions“

After multiple occasions a NEXUS member’s card has been revoked for very small violations, CBSA officials had all of the power and authority to cancel someone’s NEXUS card until now. Now, travelers have the chance to appeal to maintain their NEXUS card privileges. Even those who have had their cards revoked in the past can appeal. One would just need to attach a copy of the federal court decision or explain what happened the first time and show it is isolated, honest, and not part of a pattern of conduct.

How To Appeal –

If your NEXUS membership has been canceled, your request for review must be submitted to the Canada Border Services Agency’s Recourse Directorate within 90 days from the date of the cancellation. To appeal your NEXUS card cancellation, you may either:

1. Submit an E-Appeal OR
2. Submit your request in writing to:
   Recourse Directorate
   Canada Border Services Agency
   333 North River Road, Tower A, 11th Floor
   Ottawa, ON  K1A 0L8
   Facsimile: 343-291-7239

NEXUS Program Benefits

If you are approved to participate in NEXUS, you will receive a radio frequency identification card to use when entering the United States and/or Canada at designated NEXUS air, land, and marine ports of entry. Members in the NEXUS program get to enjoy a few benefits such as:

• using dedicated processing lanes at land border crossings
• using NEXUS kiosks when entering Canada
• using Global Entry kiosk when entering the United States
• calling a marine telephone reporting center to report your arrival in the United States and Canada

Has Your NEXUS Card Been Revoked? Hire an Immigration Lawyer!

If so, Contact VisaPlace today. All our cases are handled by competent and experienced immigration professionals who are affiliated with VisaPlace. These professionals consist of lawyers, licensed paralegals, and consultants who work for VisaPlace Legal, an award-winning immigration firm that adheres to the highest standards of client service.

Ready for the next step? Book your 1 on 1 consultation now or call us at 1-888-317-5770.

Have a Question related to your Immigration Needs?

Fill out the FREE Immigration Assessment form and get a response within 24 hours to see if you’re eligible.

The assessment form should take approximately 5-7 minutes to complete. We will get back to you within one business day to let you know if we are able to help.

Please submit applications in a binder, divided into sections by lettered or numbered tabs. Every file MUST include an E visa application for an employee.

Those Israeli nationals who are interested in applying for the E-2 visa can begin gathering required documents to be prepared to send in the application on May 1st.

The E-2 visa category for Israelis is not yet in effect.  The Embassy and Branch Office will issue a press release as soon as the E-2 Investor Visa is available to Israeli nationals.  However, the Branch Office accepts applications submitted on behalf of Israelis who hold dual citizenship with countries that maintain a treaty investor with the United States.

All Israeli companies seeking E-visas for their owners or employees must apply at the Branch Office in Tel Aviv and establish that the trading enterprise or investment meets the requirements.  The company and applicant have the burden of demonstrating fulfillment of requirements for Treaty Trader/Investor status under 9 FAM 402.9.  For both first-time applicants and renewals, the company must submit supporting documents, including the individual application for the employee, by mail.

If USCIS authorized a Change of Status to E for a person in the United States, that status is only valid as long as you remain in the United States.  To obtain an E-visa, the company and applicant must submit a complete package by mail as per first time applicants.

Are You Interested in the E-2 Visa? We Can Help!

If so, Contact VisaPlace today. All our cases are handled by competent and experienced immigration professionals who are affiliated with VisaPlace. These professionals consist of lawyers, licensed paralegals, and consultants who work for Niren and Associate award-winning immigration firm that adheres to the highest standards of client service.

Ready for the next step? Book your 1 on 1 consultation now or call us at 1-888-317-5770.

Have a Question related to your Immigration Needs?

Click here to fill out the FREE Immigration Assessment form below and get a response within 24 hours to see if you’re eligible.

The assessment form should take approximately 5-7 minutes to complete. We will get back to you within one business day to let you know if we are able to help.

The Manitoba Business Investor Stream was introduced in 2015 as a means to stimulate the Manitoba economy and bring in qualified applicants from abroad. Part of the Manitoba Provincial Nominee Program (MPNP), seeks out individuals whose business experience and investment capabilities will have a high chance of success in Canada. As of May 2018, however, a number of changes have been made to make this process bit more selective.

What Changes Have Been Made to Manitoba’s Business Investor Stream?

Changes to the Manitoba Business Investor Stream were made largely to ensure investors would follow through with their investments. The way the system worked before, individuals would invest the required monetary amount and, once approved, would immediately be issued a Provincial Nomination Certificate. This allowed them to apply right away for permanent residence. Problems arose when some individuals, upon receiving permanent residence, did not follow through with their investment. This meant their business was not fulfilling the province’s initial goal of boosting the economy.

With the 2018 update, investors participating in the Business Investor Stream will be more closely monitored to ensure they are benefiting the economy and not simply investing to gain a path to permanent residence. While applicants will no longer have to make a $100,000 deposit to the government, the new program has additional and increased requirements. For example, an applicant’s net worth must now be $500,000 rather than $350,000 and the investment value may be higher depending on the location of the business. There will also be more extensive verification of the applicant’s personal net worth, and the business concept plan will be highly emphasized.

In this new program, if the applicant is approved and receives a Letter of Advice to Apply (LAA) for the Business Investor Stream, they will then be eligible to apply for a temporary work permit. If they establish a successful business or farm operation within the first 24 months of arrival, they may be issued a Provincial Nomination Certificate allowing them to apply for permanent residence. Remember that these increased requirements are not to hurt you, but rather to ensure you, the investor, will keep a successful business going.

Who is Eligible to Apply for Manitoba’s Investor Visa?

An investor can apply through the Manitoba Business Investor Stream by means of two pathways: The Entrepreneur Pathway and the Farm Investor Pathway. To qualify for either pathway, you must also be eligible to apply for the MPNP. An individual’s eligibility will depend on a number of factors, including experience, age, language proficiency, net worth, and additional factors like their spouse’s language proficiency or existing connections to the province. From these factors, the applicant will be ranked on a point-based system that will determine their eligibility for the program.

The Interim Process: Steps to Apply

The Manitoba Provincial Nominee Program, of which the Business Investor Stream is a part, is expected to open its online Expression of Interest (EOI) system in the fall of 2018 once all technical changes are made. For now, the MPNP has instated a temporary “interim process” for those who wish to apply earlier to the Business Investor Stream.

The following is a brief outline of the steps one would take to apply:

1. Self-assessment: Ensure you meet the minimum requirements to apply.
2. Research Business Concept: Your Business Concept (or plan) is essential to having a successful application, and we recommend putting a strong emphasis on this particular aspect. An in-person visit is vital, and the Business Consulting Unit (BCU) can offer helpful insight and information.
3. Submit Expression of Interest: Submit your Business Concept Form, your Self-Assessment Form (available at www.immigratemanitoba.com), and Code of Conduct for Immigration Representatives, if applicable.
   • If you do not meet minimum stream requirements the MPNP will inform you
   • If you do meet minimum stream requirements the MPNP will review your business concept and determine whether you can move forward to the next step
     • If yes, the MPNP will issue a Business Concept Code for you to move forth
     • If no, you will be informed of the reasons why and must wait a minimum of 2 months after receiving feedback before submitting a new Business Concept. During this time you should conduct further research or modify your concept to improve it.
4. Submit Application: You will be sent a Letter of Advice to Apply (LAA), after which point you will have 120 days to submit a complete application to the MPNP with a $2,500 processing fee.
5. Application Assessment: MPNP will conduct an assessment of your application and invite you to an interview to discuss your Business Plan. If approved, you must sign a Business Performance Agreement (BPA). MPNP will then provide a Letter of Support to include with your Temporary Work Permit application to IRCC.
6. Operate Business: Meet BPA conditions, and provide progress reports to MPNP. Business Consulting Unit (BCU) can also assist you once you arrive in Manitoba.
7. Receive Nomination: Once MPNP verifies you have successfully completed the conditions of your BPA, they will issue you a Certificate of Nomination. Now, you may apply for a Permanent Resident Visa to IRCC.

Are You Interested in Investing in Manitoba?

If so, Contact VisaPlace today. All our cases are handled by competent and experienced immigration professionals who are affiliated with VisaPlace. These professionals consist of lawyers, licensed paralegals, and consultants who work for Niren and Associates an award-winning immigration firm that adheres to the highest standards of client service.

Ready for the next step? Book your 1 on 1 consultation now or call us at 1-888-317-5770.

Have a Question related to your Immigration Needs?

Click here to fill out the FREE Immigration Assessment form below and get a response within 24 hours to see if you’re eligible.

The assessment form should take approximately 5-7 minutes to complete. We will get back to you within one business day to let you know if we are able to help.

Investor Visa Requirements

1. The Immigrant Investor applicant (and spouse) must have accumulated a net worth minimum of $1,600,000 CAD. Assets that may be included when calculating net worth can be real estate, bank accounts, stocks and bonds, as well as personal funds. Under the
Quebec program of investors, inherited assets are classified as legally obtained, however, donation or inheritance money must have been received at least six months prior to launching a QIIP application.

2.  Immigrant Investor Program applicants must also intend to live in the Province of Quebec. Quebec is the largest province in the country by size and second largest by population, accounting for almost 1/4 of Canada’s 35 million residents. The outstanding quality of life in Quebec makes the province highly popular among newcomers to the country. Montreal, the largest city in Quebec is known for it’s remarkable restaurants, nightlife, places to shop, and even some of the best healthcare facilities in the nation which are more than enough to keep the city up-and-running. The education systems in Quebec are also top-notch, and home to world-class schools. The province is known for it’s astonishing multiculturalism which makes the city extremely inviting to new immigrants.

3. The Canada Investor Program requires initial applicants to have acquired at least two years of business ownership or senior management experience in the past five years. Examples of appropriate management experience include commercial business, professional business (provided the private enterprise or partnership had two or more full-time employees excluding the applicant) agricultural (farm management), foreign government department or agency, internal organization, or industrial management. Qualifying business management experience for the purposes of investor immigration to Canada must involve some part of the management, planning, and control of both the financial side and the physical side of the enterprise or organization – unauthorized work experience does not count.

4.  A significant percentage of the Quebec and Canada Immigrant Investor Program participants have financed their investment in the country. An applicant that does not wish to liquidate assets in order to come up with $800,000 must have liquid funds available to be able to make a one-time payment of $220,000 CAD. Investments must be made in full within 110 days of being approved in principal for a Canada investor visa, so working with a law firm in Canada can make meeting this deadline less stressful.

How Long Is the Processing Time for Investor Visas?

The processing times for the Quebec Immigrant Investor Program applicants can take anywhere from 16-24 months. The amount of time required depends on a variety of factors, primarily on the amount of current investor applicants in a candidate’s geographic pool. Upon approval, the applicant and their family members will become Canadian permanent residents and can receive Canadian citizenship in 4 years.

*There are 12 different programs, all with different requirements. Each province has an investor program that varies in requirements.*

Below we answer some frequently asked questions about the Canadian Investor Visa Program.

1. What is a Canadian Investor Visa?

The Canadian Investor Visas are an option for people who are interested in bringing business to Canada, wanting to start a business, start a franchise, import a franchise, or open a business branch in Canada. There are two types of investor visas: Investing in the government or investing in a business.

2. How Much Money Do I Need to Invest to Qualify for the Investor Visas?

Many people will ask “how much do I need to invest to get Canada PR?” In order to invest in the government, you must provide $150,000 – $800,000 CAD to the Canadian government. After some time the government will provide you Permanent Residency.

In order to qualify for an investor visa to open a business, you must provide proof of $350,000 – $800,000 CAD.

You will also have to provide your net worth. This amount can range (depending on which province you are applying to) from $350,000 – $1,600,000 CAD.

Your net worth and income must be obtained legally.

3. Is There an Age Requirement for the Investor Visa?

No age requirements for the Investor Visa Program.

4. Are There Any Work Experience Requirements?

Yes! You must have either (1.) Business ownership experience: The applicant must have been actively engaged in owning a business that provided goods or services to customers. (2.) Senior management experience: The applicant must have experience making executive decisions in the responsibility of managing a company in at least two of the following aspects of business: Sales, Marketing, Finance, Purchasing, Distributing, Accounting, Human Resources/Personnel, Research, and Development, Information Technology Management, Production/Operations/Project management, Quality Control.

5. Is There an Education Requirement for an Investor Visa?

No, there are no education requirements for the Investor Visa Program.

6. Is There a Language Requirement for an Investor Visa?

There are very flexible language requirements (depending on the province you are applying for).

7. Can I Bring My Family on a Canada Investor Visa?

Yes! If you are approved for a Canadian Investor Visa you may bring your spouse and children up to the age of 21 years old. If you are applying under the Manitoba province, you can bring your immediate siblings as well.

8. What is the Processing Time for a Canada Investor Visa?

You may be offered a work permit in 10 days or less but to be granted an investor visa it may take 1 to 2 years.

There are many different requirements for each investor program in Canada. Learn more about the Provinical Nominee Investor Programs.

The newly re-launched investor program has been welcomed by individuals with a high net worth looking to gain Canadian permanent residence via “passive” investment scheme.

Potential investors who are interested in living in Quebec are being urged by financial intermediaries involved in Quebec’s immigrant investor program to apply ASAP, as only the very best applications will be retained after analysis.

To give you an idea of how sought after these places are, a total of 5,000 applications were sent in 2013, with only 1,250 of that number eventually being accepted.

Are you eligible? 

To be selected under the investor program, you must have net assets totaling at least $1.6 million, and be able to invest $800,00 via Investissement Québec. You must also plan on settling (living and working) in Quebec.

Once invested, the capital is then placed in a five-year Quebec government term note – no interest will be acquired during this time, but the amount will still be under guarantee by the government.

Your investment will be used to help support the development of companies in Quebec, along with creating new jobs and adding to economic growth – something Quebec needs to ensure a prosperous future.

Are you interested in Quebec’s immigrant investor program?

If you are interested in moving to Quebec, and already have the capital to invest, we recommend you submit your application as soon as possible. If you’re unsure where to start, we can help you. We have literally helped thousands of people immigrate to Quebec and other provinces in Canada, and we can help you too.

The first step towards moving to Canada is to get an assessment of your specific situation. All you need to do is use our free online immigration assessment form here or contact us here. Once you fill out that form, we will get back to you (within 24 hours) to discuss your eligibility and immigration options.

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.

For any other information, let us know if you have any questions.

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.

Hi, this is Michael Niren, Immigration Lawyer and Founder of VisaPlace.com. The Canadian government will be introducing late January 2015 so in a few weeks from now, the New Immigrant Investor Program and it’s called, I will read it “The Immigrant Investor Venture Capital Pilot Program.” This is a new initiative by the Federal Government to attract investment to Canada.

How to Qualify for the Immigrant Investor Venture Capital Program 

The criteria to qualify for this program is an investment of $2 million by applicants and who have obtained a net worth of $10 million legally. Not a lot of people are going to qualify for this program. They will be accepting 500 applicants in a specified period. I wish the government a lot of luck in attracting qualified applications and certainly there are, I’m sure, a few who may be interested in this program but that’s a pretty high standard of qualification for any immigration program, the highest I have ever seen.

How the Funds Will be Invested

The funds, if an applicant qualifies, will be invested in innovative Canadian based startups that have high potential for growth. Obviously, the government wants to attract investment and the carrot if you will, the incentive will be for Canadian permanent residents. It remains to be seen whether or not this new investor program will be successful. I have my doubts. I think the investor program needs a redo. It needs to be reintroduced, so I certainly agree with the government in that sense.

The criteria they’ve imposed, at least as far as we know so far, seems to be unrealistic. Anyway, we’ll find out within the next few weeks. Thank you and have a great day. If you like this video, please click like.

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.

Ottawa to Create a New Immigrant Investor Plan

Ottawa will be creating a new immigrant class targeting wealthy immigrants capable of placing C$1 – C$2 million in a fund. The money would then be used to fund start-ups. According to someone familiar with the issue, the government hopes to attract investments totaling  C$120 million.

Canada has welcomed more immigrants per capita across its borders in recent times than any of the other Group of Seven countries.

This isn’t the first time Ottawa has attempted an immigrant investor program – the last one was scrapped in February, along with a backlog of tens of thousands of applicants – the majority of which are thought to have been from Chinese applicants. The move brought with it some controversy at the time, and some saw the move as yet another signal that Canada was shunning China and its potential investments. This was partly because the program was scrapped shortly after Ottawa also closed the way for Chinese state-owned investments in Canada’s oil sands.

However, Ottawa has hit back at these claims, stating that the previous visa program was essentially allowing people to buy their way into Canada without taking any risk or making an investment in the country. Basically, those who paid C$800,000 towards a Canadian province in the form of a five-year zero-interest loan were in turn granted permanent residency.

The New Immigrant Investor Visa Scheme

The new immigrant investor program is said to provide a solution to some of the problems that were raised about the previous scheme, including the idea that Canadian permanent residency was being undervalued and that applicants were able to become permanent residents without actually moving to Canada.

According to our sources, the Canadian government has marked the plan for February 2015, although we’re yet to learn of any more details regarding exactly how the program will work, and who can apply.

Canadian Immigration Minister Chis Alexander’s spokesperson has said some of these details are yet to be finalized, but we can expect them to be unveiled shortly. The spokesperson declined to go into any more specific features we can look forward to from the new program.

No Guaranteed Returns under the Immigrant Investor Program

One interesting fact about the new program is that investors will not be guaranteed a return from their investment, which will be subject to potential losses depending on how the VC fund’s investments actually perform. The new immigrant investor program will come just in the nick of time, as VC fundraising is currently on a decline.

Venture-capital investment has been encouraged by Ottawa in recent times, mainly as a way to drive innovative, created skilled job vacancies and boost long-term economic growth. Around C$400 million has already been put aside by the government to be spent on venture-capital funds, both new and existing, as a way to boost the flow of kick-start private investments into this type of funding. Ottawa is also looking for the private sector to commit to spending as much as double the amount of money for every dollar allocated to VC funding.

Immigrant Investor Program in Other Countries

Canada seems to be basing its immigrant investor program model on other western governments that have been offering permanent residency or passports in return for investments from immigrants. One of these examples is the United Kingdom, that has a scheme offering a visa to anyone who has the intention (and the bank balance) to invest £2 million into the country.

Other past examples include European countries, such as Spain, Portugal, Cyprus and Greece, which have all allowed permanent residency to be granted to investors who spend as little as $340,950 towards purchasing real estate.

Just last month, Australia was in the news for offering a fast-track 12-month opening (known as the Premium Investor Visa program) for investors to apply for permanent residency if they invested upwards of $13.2 million. These new visas add to the existing immigrant investor program known as Significant Investor Visas, which grant investors permanent residency after four years and an investment of A$5 million or more. As recorded last month, China accounted for the majority of these applications, at 90.8 per cent. A total of 87.7 per cent of the visas were granted.

So, will Canada’s immigrant investor program be as successful? We’ll just have to wait and see what the future holds for Canada in 2015.

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Attracting Entrepreneurs Through the Start-up Visa

Canada’s Citizenship and Immigration Minister Chris Alexander recently took part in a roundtable with a variety of business leaders, including Kitchener-Waterloo business incubator Communitech, in order to gather their thoughts on the Start-up Visa program and its potential for drawing in entrepreneurs.

Long-term Prosperity Through the Start-up Visa Program

Alexander said, “Our government is focused on long-term prosperity and economic growth for all Canadians. The Start-up Visa Program is helping to attract innovative entrepreneurs to Canada who can help create jobs and meet the needs of Canada’s labour market.”

Having met with the first two successful applicants the month before, Alexander took the roundtable as an opportunity to build momentum on the program and openly discuss its progress with local businesses in the area in order to encourage them to continue searching for exciting start-up opportunities and the talented people that come up with them. The Start-up Visa was initially introduced to help them do that, and Alexander seems convinced that the program will succeed.

Alexander went on to say: “We will continue to work with business leaders who can support creative business ideas and help Canada compete on a global scale.”

Growing Demand

Canada’s Start-up Visa Program is a crucial element in the Canadian government’s plan to help build an efficient and more flexible economic immigration system, which mainly focuses its attention on filling the growing demand on the Canadian economy through permanent residence.

When the program launched last year, it was the first of its kind in the world, which is something the country can be proud of. The first successful applicants entered the country in July, thanks to the support of Vancouver’s GrowLab Ventures.

Doug Couper, Managing Director of Communitech HYPERDRIVE Seed Accelerator also spoke of his enthusiasm for the scheme: “We choose the best and we want them to start, grow and succeed here in the Waterloo Region. The Start-up Visa Program helps us attract and keep the best entrepreneurs from anywhere on the globe.”

The next stage in the government’s plan seems to be the highly-anticipated Express Entry program, set to launch in January 2015 and will offer an expedited service for immigrants that can offer something back to the economy. The aim of Express Entry is to make it easier for skilled workers to enter the country than ever before.

Question: What do you think of Canada’s Start-up Visa Program?

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However, Canada’s immigrant investor program is ‘troubled’ due to problems with past similar programs.

The New Immigrant Investor Venture Capital Pilot Progam

The Immigrant Investor Venture Capital Pilot Progam should allow foreign nationals to apply for and acquire Canadian permanent residence visas. Obviously, on the condition that they start up their own businesses in Canada.

Apparently, under the latest plan, applicants will have to invest over twice the amount of the previous immigrant investor program (IIP). The investment will also have to take place over a longer period than the last program.

Selling Citizenship

Just last week, Justice Mary Gleason of the Federal Court of Canada quotes the old truism: “Asking for something does not create a right to it.”

There was an outcry in February when Alexander announced the closure of the IIP, with around 25,000 outstanding applications.

Taking families into account, it’s estimated that around 65,000 people lost their chance of Canadian citizenship.

New Immigrant Investor Program

The formal announcement is expected to be made later in the year, along with full details of the scheme, which is expected this fall. However, we do have some details right now, revealed by Alexander, himself:

• The minimum required investment will be higher than the IIP, which was CAN$800,000. Now, they’ll have to fork out over twice as much.
• IIP applicants had to make their investment over a period of five years. The duration will definitely be longer this time around, although exact details aren’t clear at the moment.
• The investment must be genuine, not reliant on a loan. Applicants must provide a “larger investment in an at-risk project focused on the start-up side of the venture capital spectrum.”
• Residency and language requirements are not expected to be particularly stringent. According to Alexander: “We respect the fact that not everyone starts from the same point of departure and we give a lot of English second-language support to those who don’t have a very high level when they arrive.”
• The first version of the plan will likely mean applicants will have to invest in a venture capital fund. These would be managed by Canadian venture capitalists.
• Initially, investors won’t have a say about which schemes their investment is applied to. The investments will be put into a single find. But when the pilot later becomes a program, immigrants can provide feedback and advice.

What do you think of the proposed new immigrant investor program so far? Let us know in the comments.

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