Under the Immigrant Investor Program, an individual must meet certain requirements to qualify as an investor. These requirements are:
- Investment: The individual must make a minimum investment of $900,000 (or $1.8 million) in a designated Canadian Investment Fund for a period of 5 years, which is approved by the Minister of Citizenship and Immigration.
- Net Worth: The individual must have a legally obtained net worth of at least $1,600,000 Canadian dollars. Further, this net worth must have been obtained from legitimate sources, such as inheritance, business ownership, or property ownership.
- Business Experience: The individual must be an experienced business person who has managed a qualifying business and has a minimum of 2 years of business management experience.
- Language Proficiency: The individual must possess the minimum language proficiency in one of Canada’s official languages, namely English or French. The proof of language proficiency must be provided in the form of a recognized language test.
It is important to note that these requirements can be subject to change based on the Immigration, Refugees, and Citizenship Canada (IRCC) policies and regulations. Moreover, to further validate their eligibility, investors may have to undergo a mandatory security and medical clearance.
If an individual does not meet any of the above requirements, they may not qualify as an investor under the Immigrant Investor Program. In such a scenario, they may explore other available options like other investment streams or the possibility of reapplying in the future once they meet the eligibility criteria.
To ensure that their application is complete and accurate, it is advised that the investor consults a licensed immigration lawyer who can assist them in their application process and fulfill all requirements laid out by IRCC for the Immigrant Investor Program.
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