QUEBEC INVESTOR PROGRAM

Introduced in 1986, the highly successful Quebec Immigrant Investor Program (QIIP) offers qualified high net worth individuals and families worldwide the opportunity to immigrate to Canada through the Province of Quebec. With the closure of Canada’s Federal Immigrant Investor program, the exclusive QIIP is the only Canada investor visa of its kind currently available to international business people, and it boasts similar investment standards as the former federal program.

Quebec selects the candidates who meet its Immigrant Investor Program criteria and grants them a Quebec Selection Certificate. This document allows investors and their immediate families to apply for a permanent residence visa with the federal government of Canada, to obtain this visa unconditionally and, ultimately, to have the right to apply for Canadian citizenship after meeting the residency requirements.

The province of Quebec offers an Immigrant Investor Program that aims to attract wealthy individuals and their families and is managed by the Ministry of Immigration, Francisation, and Integration. Quebec society is modern, pluralist and egalitarian. It has welcomed more than 50,000 new immigrants every year since 2004. While French is the official language of the province, English is widely spoken in major cities and the business community. Under the Immigrant Investor Program, the interest on investments made by immigrant investors is distributed by the government as non-repayable contributions to Québec businesses as well as for funding the Employment Integration Program for Immigrants and Visible Minorities (PRIIME).

If you are planning to live in Quebec, we encourage you to visit the Province to assess the viability of your furture business prospects. You may claim points based on any business-related visits to Quebec within the last year from the date of your application.

Qualifying Criteria

– Have alone, or with an accompanying spouse, minimum net assets worth CAD$2,000,000 gained legally, including donations given more than six months before an application is filed.

– Have qualifying management experience for at least two years during the five years preceding the submission of an immigration application.

– Have the intention to settle in Quebec, sign an investment agreement with an authorized financial intermediary and invest CAD$1,200,000 for 5 years at 0% interest (financing is available).

– Candidates who can demonstrate knowledge of French through a standardized test can submit an application at any time.

– Obtain, by the prescribed deadline, an attestation of learning about democratic values and the Québec values. The members of your family accompanying you (your spouse of 16 years of age or older and your dependent children of 18 years of age or older) must also obtain the attestation.

ATTENTION: Intake Paused November 1, 2019 to June 30, 2020

Successful applicants are required to make their investment with Investissement Québec for a period of five years, at the end of which the capital is returned without interest. The five year period begins upon issuance of the selection certificate before the applicant has even landed in Canada. Successful applicants are issued a selection certificate from Quebec for Canada immigration, which allows them to obtain Canadian permanent residence following health and criminality examinations by Federal immigration authorities.

Important: Legally Acquired Net worth

In order to meet the minimum net worth requirement of $2 million, applicants must demonstrate the net value of their current assets, as well as their history of the acquisition of funds over the course of their careers with supporting documentation.

Net worth is established through bank statements, investor booklets, real estate evaluations, audited financial statements and other pertinent and up to date documentation. Candidates are required to declare all of their personal assets and liabilities; however, they are not required to produce evidence of assets beyond $2 million.

Applicants must also demonstrate that their net worth was acquired legally. This takes into account the individual’s past employment income, businesses, local market conditions, inheritances and donations. While it is often difficult to produce detailed documentation of the early stages of an applicant’s career, clear supporting documents will facilitate the application process

You must intend to reside in Quebec. It is your responsibility to prove a genuine intention to reside in Ontario as described in Section 87(2) (b) of the Immigration Refugee Protection Act, S C 2001, c27, Regulations which state that “a foreign national is a member of the nominee class if they intend to reside in the province that nominated them”.

Processing Time

The province of Quebec takes between 12 to 14 months to process the application. IRCC, prior known as CIC, takes 3 to 4 years to issue the permanent resident status depending on your country of origin or residence. Therefore, it can approximately 4 to 5 years for you to arrive in Canada. Delays can be minimised by presenting all relevant information accurately and strategically. The government never advises the time needed to process an application but it always mentions the time it took to process 80% of the applications in the last year.