New QIIP Application Intake Period for 2017-2018 Announced by Quebec
canada program |
Canada Permanent Residency |
Canada Business Immigration |
QIIP Application |
QIIP 2017 |
April 1, 2017
One of the world’s most popular immigrant investor programs, the Quebec Immigrant Investor Program, will reopen for applications this spring. This popular Canadian immigration option allows qualified immigrant investors and their dependent family members the opportunity to obtain Canadian permanent residency (PR) by investing CAD $800,000 risk-free through an approved financial intermediary.
The new intake period for applications was announced by the Government of Quebec on Thursday March 30, 2017, and will run from May 29, 2017 to February 23, 2018, though many expect that the quota of 1,900 applications will be filled sooner than that. No more than 1,330 applications will be accepted for processing from the People's Republic of China, including the special administrative regions of Hong Kong and Macao. Candidates with an “advanced intermediate” level in French are not subject to this cap and can submit their application at any time until March 31, 2018. Moreover, their applications are given priority processing.
Eligibility requirements for the Quebec Immigrant Investor Program are as follows:
Minimum Net Worth
- Candidates must have acquired a minimum of CAD $1.6 million in net worth, alone or with a spouse or partner. Assets such as property, bank accounts, pension funds, stocks and shares may be included.
- Candidates must have acquired a minimum of two years’ management experience in the past five years. The company must have a minimum of two full-time employees. It does not necessarily have to be profitable. It can also be an international agency, department, or government agency.
The Quebec Advantage
- The candidate must intend to settle in Quebec and sign an investment agreement agreeing to invest CAD $800,000 with an approved financial intermediary. Eligible candidates must sign an investment agreement with one of the financial intermediaries—a broker or trust company—authorized to participate in the program. The investment can be financed by a financial intermediary.
Compared to many other investor immigration programs around the world, the Quebec Immigrant Investor Program has a number of clear advantages.
First, a successful application leads to a Canadian permanent residency (PR) visa.
Second, investment through the Quebec program is without risk. The investment of CAD $800,000 is guaranteed by the Quebec government and returned in full after five years. Moreover, the investment requirement is far less onerous than other investor immigration programs, including Canada’s Immigrant Investor Venture Capital Pilot Program.
Third, all immediate members of the candidate’s family (spouse or common-law partner and dependent children under the age of 19) are included in the application and have the same status as the candidate. This is not necessarily the case for other investor immigration programs. Successful applicants and their families may enjoy the benefits of permanent resident status, including universal health care, free public education, and access to world-class universities.
“The Quebec Immigrant Investor Program is highly attractive to many international investors, not least because it is passive in the sense that there are no conditional management requirements after arrival. It isn’t as hands-on as most other immigrant investor programs. Moreover, successful applicants have the prospect of living in a diverse, multicultural province that also provides a wealth of education and job opportunities for families,” says Attorney David Cohen.
“Given that the program will re-open and likely to fill soon, I would encourage interested investors to prepare an application and gather supporting documents swiftly in order to maximize their chances of success.” says Attorney David Cohen.
For more information on the Quebec Immigrant Investor Program, please click here.
For more information on Canadian immigration programs, please click here.
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