Chris Alexander, Canada's immigration minister says that Canada will announce details of an 'immigration investor venture capital pilot' scheme in 'a couple more months'. The visa will allow foreign nationals to gain Canadian permanent residence visas if they start up businesses in Canada.
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Mr Alexander said that applicants would need to invest 'more than twice the amount' that was required under the previous Immigrant Investor Program (IIP). He also said the investment would need to be made for a longer period than under the IIP.
Mr Alexander made headlines in China in February when he announced that the IIP would be closed with immediate effect. At the time of his announcement, there were some 25,000 applications outstanding.