The Quebec Immigrant Investor Program (QIIP) that reopened on September 10 has started accepting new applications. The Program will be accepting 1900 applications for permanent residence in Canada and will remain open till March 15th, 2019.
The reopening of the Quebec Immigrant Investor Program was announced by the Quebec government in March 2018, which was confirmed on July 18, 2018. Later, on August 2, certain modifications were introduced to the eligibility criteria. They include:
>The applicant must have a minimum net worth of CAD 2,000,000, which must be legally acquired
>The applicant has to invest CAD 1,200,000 for a period of five years. This passive investment, bearing no interest, is guaranteed by the Quebec government. Financing option is also available. Earlier, the required amount was $800,000.
However, the conditions related to experience in business management and intention to settle in Quebec remain the same. The applicant is supposed to have minimum two years of senior managerial experience within the past five years. Though the total quota for this round of intake remains the same at 1900, the maximum applications to be accepted from China will be 1330, as the share has been reduced from 70% to 65%.
The quota is not applicable for French-speaking applicants and they can apply to the Quebec Immigrant Investor Program anytime during the intake period and will be given priority.
Quebec Immigrant Investor Program:
Created in 1986, the Quebec Investor program is currently the only passive investment immigration program in Canada. It is also the largest and most attractive business and investment immigration program in Canada. In past years, the program accepted 1,900 investor applications annually.
Earlier, Quebec had suspended new applications to the Quebec Immigrant Investor Program till August 15, 2018 for clearing the backlog of applications.
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