Canadian citizenship by investment

Citizenship by investment is not a unique scheme in Canada. But Canada does have a program called the Immigrant Investor Venture Capital (IIVC) Pilot Program that seeks to draw skilled business immigrants who can contribute significantly to the country’s economy.

The way of getting citizenship by investment in Canada

The Immigrant Investor Venture Capital Program’s salient features are as follows:

1. Program information. The IIVC Pilot Program is intended for high-net-worth individuals who are eager to invest CAD 2 million in a venture capital fund that has received government approval. Approximately 15 years are allotted for the investment.
2. Choice procedure. Since there are only a few slots in the program, candidates are chosen based on their potential to boost the country’s economy.
3. Eligibility requirements. Applicants must have management expertise, a lawfully acquired net worth of at least CAD 10 million, and the willingness to make the requisite investment in order to be eligible for the IIVC Pilot Program.
4. Prerequisites for education and language. For the IIVC Pilot Program, candidates are not needed to provide evidence of language competency or a certain degree of schooling.
5. Permanent status. Successful candidates are granted permanent residency in Canada, along with members of their immediate families. They might be qualified to submit an application for Canadian citizenship via the standard citizenship process after fulfilling the residency criteria.

Additionally, Canada has a number of programs that let people come there based on investments or commercial ventures. These initiatives include the Self-Employed Persons Program, the Start-Up Visa Program, and several Provincial Nominee Programs (PNPs), each of which may have distinct criteria for capital or commercial activity.

Documentation and Application

In general, you may anticipate being required to submit documentation to prove your candidacy and satisfy the unique requirements of each program, including a business plan, evidence of investment capital, school credentials, job experience, language competence, and other supporting documents.

Depending on the particular investment or business-related program you are applying for, the requirements for documents and the application process for Canadian citizenship by investment vary. An outline of the IIVC Program’s documentation requirements and application procedure is provided below:

Documentation

• Evidence of a legitimately acquired net worth. You will have to present proof that your net worth is at least $10 million in Canadian dollars.
• Investing money. You must demonstrate that you have the 2 million Canadian dollars in investment capital accessible for the venture.
• Supplementary records. Passports, birth certificates, marriage certificates, and other personal or identifying documents may be needed as additional supporting documentation.

Examining and applying for processes

The application form must be fully completed, the application fee paid, and it must be sent. After receiving your application, the IRCC will review it. On the IRCC website, you may view the current processing times. The processing period is flexible. IRCC may request further eligibility documentation while it processes your application. both a physical examination and a discussion Depending on the nature of your application, you might need to undergo a medical examination or an interview.

Acceptance and indefinite residency

You will get a letter of approval from IRCC if your application is accepted. At this point, you will be obliged to contribute CAD $2 million to the government-approved venture capital fund in accordance with the program’s requirements. Your family will be awarded permanent residency in Canada once you have met the investment threshold and all other requirements.

Dual Nationality

Canada allows its citizens to hold dual nationality or dual citizenship. You can be a citizen of Canada and also a citizen of another country simultaneously.