The Intake of Permanent Resident Applications Under the Immigrant Investor Venture Capital Class

Last Updated on August 29, 2016

Citizenship and Immigration Canada (CIC) would need to accept permanent resident applications received under the Immigrant Investor Venture Capital class from January 28, 2015, to February 11, 2015. Alternatively, Citizenship and Immigration Canada (CIC) would need to accept permanent resident applications received under the Immigrant Investor Venture Capital class until they receive 500 applications.  Citizenship and Immigration Canada (CIC) would need to continue accepting permanent resident applications received under the Immigrant Investor Venture Capital class until one of the two conditions specified above runs its course – whichever comes earlier. Thereafter, the authorities would randomly draw applications received within the specified time period (or to the cap of 500 applications) for an initial completeness check.

Applicants would need to ensure that the authorities consider their applications as being complete for the purposes of the initial completeness check. For this, the randomly drawn applications would need to meet the application kit requirements in place at the time of receipt of the application. This would mean that applicants will need to provide original designated language test results that demonstrate that the applicant meets the prescribed language thresholds for the Immigrant Investor Venture Capital class as specified by the Minister in each of the four language abilities (i.e. speaking, oral comprehension, reading and writing) and the required evidence of education.

The officers would randomly draw applications and check them for initial completeness against application kit requirements. Officers would continue to do this until they have identified 60 complete applications. The authorities would require these applicants to submit additional supporting documentation within the timelines specified by the designated Citizenship and Immigration Canada (CIC) office for meeting the second stage completeness check. Such additional documentation would typically include a due diligence report from a designated service provider. Once these applications meet the second stage completeness check, the officers would consider them eligible for processing.

The officers would process applications they consider eligible for processing until the authorities approve up to 60 principal applicants with permanent resident visas issued under the Immigrant Investor Venture Capital class. It is worth highlighting that 60 is the maximum number of investments that the authorities would accept for capitalising the Immigrant Investor Venture Capital Fund.

In all cases, applicants meeting the criteria specified in the Ministerial Instructions are still subject to the Immigrant Investor Venture Capital class requirements prescribed. In addition, they would also be subject to all other applicable requirements of the Immigration and Refugee Protection Act (IRPA). These Ministerial Instructions would continue to remain in place unless otherwise indicated in subsequent Ministerial Instructions.

No Humanitarian and Compassionate (H&C) Requests to Overcome Requirements of Ministerial Instructions

Situations could arise where the officers come across requests made on the basis of humanitarian and compassionate (H&C) grounds from outside Canada that accompany permanent resident applications affected by these Ministerial Instructions. In case the officers do not identify such applications for processing under the Ministerial Instructions, the applications will not be processed.

The Retention and Disposition

In some cases, the officers would need to return applications for permanent residence under the Immigrant Investor Venture Capital class. This would typically happen in case the authorities receive applications for permanent residence in excess of the cap of 500 applications. Alternatively, it could happen in case the authorities receive the applications after February 11, 2015 (whichever of the two conditions comes first). In this scenario, the officers would need to return the relevant processing fees as well.

Similarly, the authorities could receive applications between January 28, 2015 and February 11, 2015 that are not drawn at random for completeness checks. Or, they could come across a maximum 500 applications that are not drawn at random for completeness checks (whichever of the two conditions takes place first). In both cases, the officers would need to return these applications. In addition, they would need to return the appropriate processing fees as well. It is worth highlighting that Citizenship and Immigration Canada (CIC) would need to retain a small number of randomly drawn applications over and above the initial 60 complete applications identified as indicated above. Officers could put these additional applications into processing, in case they need to do this to arrive at up to 60 permanent resident visas or approvals under this class. Once the authorities issue up to 60 permanent resident visas or approvals under this class, the officers would need to return all the remaining applications.