Citizenship And Immigration Minister Hints On New Investor Program

25 Mar 2014

Chris Alexander, Minister of Citizenship and Immigration Canada apprised about the future of the Federal Investor program during his visit to the mainland China and Hong Kong, reported by the South China Morning Post, a local newspaper.

Citizenship and Immigration minister explained that the scheduled to be closed investor program is not serving the interests of Canada. The proposed program will be named as immigration investor capital pilot, with huge investment in an at-risk project focused on the start-up side of the venture capital spectrum. And this program is identical to the peer countries in some European countries and Australia.

The required investment would be double than the present amount of $800,000, according to the minister. Besides, the investments are expected for longer duration of time compared to the current time period. Investor will have to deposit their funds into single amount, and will not know whereabouts of the investments in terms of where and what they invest.

To systematize the new program, the government of Canada will work with professional manager level in private sectors. There will be competition to select the managers.

This new pilot program will be designed keeping mind a new investor program which is suitable to the currents economic needs of Canada. More information on this program is most likely to be announced in the coming months.

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