The government of Quebec has recently announced its new quota set for the Quebec Immigrant Investor Program (QIIP) under the category of Canada Business Immigration whereby the program will be accepting a total of 1900 applicants from various parts of the world from May 30, 2016 until February 28, 2017. The QIIP facilitates immigration to Canada for qualified investors whom intend to settle in Quebec (once the PR is obtained applicants are free to live anywhere in Canada) and make a passive investment in Quebec via an authorized financial intermediary.
This program is the first of its kind in all of Canada and the second biggest program in North America following USA’s EB-5. It is fundamental to compare two of the most favored programs recognized globally for those interested individuals whom wish to opt for business immigration: the QIIP and EB-5.
Minimum net worth
Prospective applicants are required to have, alone or with an accompanying spouse, net assets of at least CAD $1,600,000 (≈USD $1,214,000 today) under the QIIP compared to the EB-5 US investor program which expects a minimum of USD $1,000,000.
QIIP applicants must sign an agreement to invest CAD $800,000 (≈USD $607,000 today) with an authorized financial intermediary (financing options for your investment are available). The EB-5 program’s minimum investment is USD $500,000 which should be invested in a commercial unit in a targeted employment area (TEA). Investments for both programs are reimbursed after 5 years.
Applicants to the QIIP must intend to settle in Quebec (once the PR is obtained applicants are free to live anywhere in Canada). Additionally, the QIIP expects applicants to have at least two years’ experience at a senior managerial level within the five years preceding the application date. On the other hand, the EB-5 program requires interested investors to create 10 full-time jobs within a two-year span once conditional permanent residency is obtained.
For more information on the government of Quebec’s re-launch of the QIIP, please click here.
For more information on the QIIP and EB-5 program comparisons, please click here.
For more information on the Quebec Immigrant Investor Program (QIIP), please click here.
For more information on the USA EB-5 Investor Program, please click here.
Feel free to fill out our Free Assessment, and find out if you qualify under any of the business immigration programs offered.