The Quebec Investor Immigration Program (QIIP) is the only program of its kind in Canada which offers the opportunity for qualified high net worth individuals, such as business owners or employed directors of corporation, as well as their families, the opportunity to permanently settle in Canada by way of a passive investment. As there are no specific language or age requirements to be eligible for this program, the QIIP is one of the most sough-after and important investment programs of its kind in North America. Please note that this program accepts only a limited number of applicants during the course of a given calendar year. For the current application year 2018-2019, the government has determined that they will accept 1900 applications. As space is limited, please contact one of our lawyers today for a free, immediate assessment of your eligibility.
Who can apply for the Quebec Investor Immigration Program?
Important changes have been made to the QIIP by Immigration Quebec on March 28th, 2018. All potential applicants for the Quebec Investor Program for 2018-2019, will now be required to meet the following criteria:
- Have net assets, alone or with a spouse, in the amount of $2,000,000 CAD (previously $1,600,000 CAD), obtained legally and excluding any donations received in the six months preceding the application;
- Possess management experience and having worked in a management position in at least the past two of five years. Such a role can be held in a commercial, industrial or farming business or any other business where the applicant’s duties included the planning, management and control of the company’s financial, human and material resources. If the applicant owned a private corporation, the business must have employed at least two full time employees, excluding the applicant;
- Invest $1,200,000 CAD (previously $800,000 CAD) with a financial intermediary accredited by the QIIP; Or, if an applicant is unable or unwilling to invest this sum for a period of five years, he may, instead, prefer to partake in a financing option where a one-time non-refundable investment of approximately $300,000 – 350,000 CAD is made (previously approximately $240,000 CAD) including all government brokerage fees. This is a more popular option as this non-refundable investment is a considerable lower amount that must be paid up front;
- Have the intention and demonstrate your plans to permanently reside in the province of Quebec.
Other factors that will be taken into consideration include age of applicant, educational and work experience, as well as French language skills. Most applicants are able to settle in Canada after a period of approximately 24 months.
What are the steps to apply for the Quebec Investor Program?
The program is a two-fold process. First, and after an applicant is “selected” by Quebec Immigration the applicant will be asked to make the $1,200,000 CAD investment with an accredited financial intermediary, or the one-time, non-refundable investment of about $350,000 CAD . Once the investment agreement signed, the candidate will then be asked to apply for the Certificat de Selection du Quebec (CSQ). Once the CSQ obtained, the applicant will then apply for permanent residency with Immigration, Refugee and Citizenship Canada.
Please note that, financing is also available for the investment amount of $1,200,000 CAD. Once the investment made, the total sum will be returned to the selected applicant, interest-free after five (5) years.
I am not ready to apply yet, how often does the QIIP program become available to new applicants?
The program becomes available and to applicants a few times per year and the number of applications are limited. In the past year, 1900 such applications were accepted by the Quebec Government. Please note that individuals who possess an advanced knowledge of the French language, can apply at any time during the calendar year and are not subject to the yearly quota. They furthermore have priority of the review of their application, therefore, a solid knowledge of French can be considered an asset.
At KLM Immigration, our attorneys specialize in business, entrepreneurship and investment immigration and have, over the years, successfully represented international investors from Asia, Europe, the USA and the Middle East. Contact one of our lawyers today at 1-888-603-3003 for a free, comprehensive consultation.