Richard spoke about Immigrant Investors at the Investment Alternatives Conference on February 15, 2014.
The 2014 Canadian Federal Budget, Economic Action Plan 2014, was released. In the budget, the Government of Canada announced the termination of the Federal Immigrant Investor Program (IIP) and Federal Entrepreneur (EN) Program, two programs that have been plagued by inefficiencies and longstanding backlogs. The programs will be scrapped, along with the 65,000 applicant backlog.
In place of these programs, the Government will introduce new pilot programs, such as a new Immigrant Investor Venture Capital Fund pilot project, which will require immigrants to make a real and significant investment in the Canadian economy. The Government will also conduct consultations on a potential Business Skills pilot program. The Start-up Visa Program that was launched in 2013, which is for entrepreneurs who have the support of a Canadian venture capital firm, will continue.