Quebec Immigrant Investor Program (QIIP)
What is the Quebec Investor Program of Canada?
The Quebec Investor Program refers to an immigration program provided by the province of Quebec in Canada. It seeks to draw in experienced entrepreneurs who are ready to make investments and foster the expansion of the province’s economy. For a predetermined amount of time, qualified investors are required to make a passive investment in Quebec under this program.
Successful applicants via the Quebec Investor Program are awarded permanent residency in Canada, enabling them to live, work, and study in Quebec permanently.
It is crucial to know that the Quebec Investor Program is different from the federal Immigrant Investor Program, which has different eligibility criteria and requirements. Individuals interested in applying to the Quebec Investor Program should carefully read the program requirements and make sure they meet the obligatory criteria before submitting an application.
Quebec Investment Immigration Program Eligibility Criteria
The Quebec Immigrant Investor Program (QIIP) is a sought-after immigration program that enables individuals to acquire permanent residency in Quebec by making a passive investment in the province. The eligibility criteria for the QIIP usually involve the following requirements:
1
Net worth
Applicants need to have a legally obtained net worth of at least CAD $2 million, acquired via lawful means.
2
Investment
Applicants must make an investment of CAD $1.2 million in the form of a five-year term loan to the Quebec government. This investment is ensured by the government and will be given back in full after the five-year term.
3
Management experience
Applicants need to demonstrate at least two years of management experience in an eligible business within the previous five years.
4
Intention to settle in Quebec
Applicants must decide to reside in Quebec and sign an agreement to invest in the province.
5
Medical and security clearance
Applicants and their accompanying family members need to do medical examinations and provide police clearance certificates to prove good health and character.
The Quebec Immigrant Investor Program Application Process
The Quebec Immigrant Investor Program (QIIP) is a popular immigration program that enables individuals to get permanent residency in Quebec by making a passive investment in the province. The application process for the QIIP typically includes the following steps:
1
Eligibility assessment
Prospective applicants are required first to make sure they meet the eligibility criteria for the program, which may involve factors like net worth, business experience, and intention to settle in Quebec.
2
Submission of application
Applicants are required to submit a complete application package to the Quebec government, including all necessary forms, supporting documents, and the investment amount.
3
Selection and approval
Qualified applicants are chosen by Quebec according to their eligibility and the availability of spots in the program. Once chosen, applicants will receive a Quebec Selection Certificate (CSQ), which is necessary for applying for permanent residency.
4
Federal application
After acquiring the CSQ, applicants need to submit an application for permanent residency to the federal government via Immigration, Refugees and Citizenship Canada (IRCC).
5
Medical and security checks
Applicants and their family members are required to do medical examinations and security checks as part of the immigration process.
6
Landing in Canada
Once the permanent residency application is accepted, applicants and their family members can land in Canada as permanent residents and begin their new life in Quebec.
In comparison with other Business Immigration Programs in Canada, what are the advantages of the QIIP?
The Quebec Immigrant Investor Program (QIIP) offers several benefits in comparison with other business immigration programs in Canada. Some of the main advantages of the QIIP include:
1
Lower investment requirements
The QIIP usually has lower investment requirements in comparison with other investor immigration programs in Canada, making it a more suitable option for individuals deciding to immigrate via investment.
2
Passive investment option
The QIIP enables applicants to make a passive investment in a government-approved fund, instead of actively managing a business or creating jobs, which can be a more appropriate option for some investors.
3
French language proficiency not required
While knowledge of French can be useful for applicants to the QIIP, it is not an obligatory requirement, unlike some other immigration programs in Canada that give priority to language proficiency.
4
Predictable processing times
The QIIP has a fixed amount of applications that can be accepted each year, which can result in more predictable processing times in comparison with other immigration programs that may have changeable application volumes.
5
Pathway to permanent residency
Successful applicants through the QIIP are given permanent residency in Canada, enabling them to live, work, and study in the country permanently.
Processing Time for the Quebec Immigrant Investor Program
The provincial processing time usually takes between 9-12 months before granting a Quebec Selection Certificate. The Federal processing time that occurs after issuing QSC, takes roughly 3-4 years.
It is crucial to understand that these processing times are estimates and may vary based on the current workload of the immigration authorities. Applicants must regularly check the official website of the Quebec government or consult with an experienced immigration consultant for the most up-to-date information on processing times for the Quebec Immigrant Investor Program.
