This section contains details on policy, procedures and guidance that Immigration, Refugees and Citizenship Canada (IRCC) staff typically use. The authorities have posted this on the Immigration, Refugees and Citizenship Canada (IRCC) website as a courtesy to stakeholders.
The Eligibility Criteria for Foreign Nationals to Apply in the Immigrant Investor Venture Capital Class
The authorities permit foreign nationals to apply in the Immigrant Investor Venture Capital Class if they:
-
Have the ability to establish themselves economically in Canada
-
Intend to reside in a province other than Quebec
-
Have a minimum net worth of $10 million Canadian dollars that they have acquired legally through business or investment activity
-
Meet the minimum language proficiency threshold as demonstrated by the results of a designated language test
-
Meet the minimum education requirements prescribed (or have a minimum net worth of $50 million Canadian dollars and,
-
Make an at-risk investment of $2 million Canadian dollars into the Immigrant Investor Venture Capital Fund
The Process for Submitting an Application
The Centralised Intake Office (CIO) in Sydney, Nova Scotia, will be responsible for receiving all applications for permanent residence under the Immigrant Investor Venture Capital Class. They would need to do this within the specified intake period. This is in accordance with the prescribed Ministerial Instructions – refer to Appendix A.
Situations could arise where the Centralised Intake Office (CIO) in Sydney, Nova Scotia, receives applications outside of the intake periods. Officers would need to return these applications to the applicants. In addition, they would need to return the fees to the applicants as well.
The Eligibility for Processing
Citizenship and Immigration Canada (CIC) would need to check all the applications received during the prescribed intake periods. At this stage, they would typically check the applications for stage one completeness. However, they will only place the first 60 complete applications into processing. They would do this if these 60 complete applications meet stage two completeness as well. Moreover, the officers can place up to 60 additional applications on a waiting list. Thereafter, they could put these additional applications into processing, if needed.
It is worth highlighting that intake will typically remain open under the Immigrant Investor Venture Capital Class until:
-
The authorities issue 60 permanent resident visas or approvals under this class
-
The authorities receive 60 complete applications and put them into processing and retain 60 additional applications that meet the initial completeness check requirements on the waiting list or,
-
December 30, 2015
It is worth highlighting that this includes applications received during the previous intake periods that have cleared the first-stage completeness check. The officers would need to process these in accordance with the Ministerial Instructions in place at the time the authorities received these applications.
Officers would need to go through the instructions regarding completeness checks. They would need to refer to this for assessing all applications. Moreover, applicants would need to note that they would need to have submitted applications in accordance with the requirements specified in section R10 and in the application kit. Only then would the officers consider these applications as being complete and eligible for processing.
The Details Specified in R10
-
The Form and the Content of the Application
-
Under these Regulations, the applicants would need to:
-
Make the applications in writing using the form provided by the Department (if any)
-
Sign the applications
-
Include all information and documents required by these Regulations as well as any other evidence required by the Act
-
Ensure that the application accompanies the evidence of payment of the applicable fee if the Regulations specifically mention this and,
-
Identify the principal applicant and the accompanying spouse or common-law partner clearly (in case there is an accompanying spouse or common-law partner)
-
-
This is in accordance with the provisions specified in paragraphs 28 (b), 28 (c), 28 (d) and 139 (1) (b)
-
-
The Required Information
-
Unless specified otherwise by these Regulations, the application would need to:
-
Contain the name, date of birth, address, nationality and the immigration status of the applicant and of all the family members of the applicant, regardless of whether they are accompanying the principal applicant or not
-
Contain a statement detailing whether the applicant or any of the family members is the spouse, common-law partner or conjugal partner of another person
-
Indicate whether the applicants are applying for a visa, a permit or an authorisation
-
Indicate the class prescribed by these Regulations for which the applicant is making the application
-
Situations could arise where the applicant is represented in connection with the application
-
In this scenario, the application would need to include details such as the name, the postal address, the telephone number, the fax number and the electronic mail address (if any) of any person or entity (or a person acting on its behalf) who is representing the applicant
-
-
Situations could arise where the applicant is represented in connection with the application by a person referred to in any of the paragraphs 91 (2) (a) to 91 (2) (c) of the Act
-
In this scenario, the application would need to include the name or the body of which the person is a member and their membership identification number
-
-
In some cases, the applicant might have received advice for consideration in connection with the application, by a person referred to in any of the paragraphs 91 (2) (a) to 91 (2) (c) of the Act
-
In this scenario, the application would need to include the following details:
-
The application would need to include details such as the name, the postal address, the telephone number, the fax number and the electronic mail address (if any) of any person or entity (or a person acting on its behalf) who is representing the applicant and,
-
The application would need to include the name or the body of which the person is a member and their membership identification number
-
-
-
In some cases, the applicant might have received advice for consideration in connection with the application, by a person referred to in subsection 91 (4) of the Act
-
In this scenario, the application would need to include details such as the name, the postal address, the telephone number, the fax number and the electronic mail address (if any) of any person or entity (or a person acting on its behalf) who is representing the applicant with reference to that entity or person and,
-
-
-
Include a declaration that the information provided is both complete and accurate
-
-
-
The Application of Family Members
-
The authorities consider the application as an application made for the principal applicant and the accompanying family members of the principal applicant
-
-
The Sponsorship Application
-
Foreign nationals have the ability to make applications as members of the family class
-
However, the application would need to be preceded or accompanied by a sponsorship application as specified in the provisions of paragraph 130 (1) (c)
-
-
Multiple Applications
-
The authorities do not permit the filing of a sponsorship application by a sponsor in respect of a person if the sponsor has already filed another sponsorship application in respect of that same individual and where the authorities have not made a final decision in respect of that other application
-
-
The Invalid Sponsorship Application
-
Situations could arise where sponsors make sponsorship applications that are not in accordance with the provisions specified in subsection (1)
- The authorities do not consider such applications as applications filed in the prescribed manner for the purposes of subsection 63 (1) of the Act
-
- Appendix A: The Ministerial Instructions Respecting the Immigrant Investor Venture Capital Class
- The Supporting Documentation
- The Production of Other Documents
- The Application for Visa
- The minimal requirements
- The Arrangement with the Bank
- The Status of the Bank
- The Processing fees
- The Guidelines for Non-Application
- The Effective period
- The Department of Citizenship and Immigration – The Immigration and Refugee Protection Act – The New Ministerial Instructions
