Applying for a permanent residency in Canada might seem like a daunting task, especially if you are not aware of the different programs that exist to facilitate the process. One of these programs is the Quebec Immigrant Investor Program (QIIP), tailored for business people looking to invest and reside in Quebec. If you are considering relocating to Canada, read on to learn the basics of the immigrant investor program canada and find out how it can assist in your pursuit of a new home.
The Quebec Immigrant Investor Program is a residency-by-investment program that offers foreign investors the opportunity to obtain permanent residency in Quebec by investing a sum of money. The program was introduced in 1986 to boost the province’s economy through investment, and since then it has become a popular choice for potential immigrants.
So, how does it work? To be eligible for the program, an applicant must demonstrate that they have acquired a legally acquired personal net worth of at least CAD 2,000,000, have experience in management, and undertake to invest CAD 1,200,000 over a period of five years in Quebec. The applicant’s investment is managed by Investissement Quebec and the funds are returned, without interest, after five years. The amount of the investment is divided into three parts: CAD 740,000 is refunded at the end of the program, CAD 200,000 is allocated to the Quebec government, and the remaining CAD 300,000 is invested in a portfolio of prescribed investments with a financial intermediary.
Applicants are reviewed based on a points-based system where they are evaluated on their investment history, management experience, age, proficiency in French or English, and other factors. The program has an annual cap of 1,900 applicants and their dependents, with a maximum of 1,235 spots allotted for China nationals, Hong Kong residents, and Macao residents. The program selects candidates for Quebec immigration based on the highest point values, and candidates with a valid offer of employment in Quebec will get more points.
Once selected, applicants and their families receive an unconditional selection certificate from the Quebec government, allowing them to apply for Canadian permanent residency with the Government of Canada. The processing time for permanent residency can take up to 36 months, and applicants are also required to complete medical exams and criminal background checks.
Conclusion:
The Quebec Immigrant Investor Program presents itself as a beneficial option for those seeking permanent residency in Canada. It offers a direct and straightforward pathway to permanent residency, making the process of moving to Canada relatively smooth for businesspeople with sound investment histories. The program provides an excellent opportunity for investors to make their mark in Canada and contribute to Quebec’s economy, while enjoying all the perks of permanent residency in this beautiful province.
