QUÉBEC IMMIGRANT INVESTOR PROGRAM (QIIP)
QIIP is designed to attract high-net-worth individuals who will contribute substantially to Canada’s economic development. It is the only investment immigration program that does not require applicants to establish a business in Canada. Once selected, the applicant and his/her family will be eligible to apply for permanent residence.
Quebec Immigrant Investor Program (QIIP) Overview
The Quebec Immigrant Investor Program (QIIP) is one of the most popular Canadian immigration programs. QIIP is designed to attract high-net-worth individuals who will contribute substantially to Canada’s economic development and is the only investment immigration program that does not require applicants to establish a business in Canada. Once selected, the applicant and his or her family (spouse and children) will be eligible to apply for permanent residence. Following three years upon arrival, the applicant and his or her family may apply for full Canadian citizenship.
Why Immigrate to Quebec?
Situated in the eastern part of Canada, Quebec is the largest province of the country. Residents enjoy a high quality of life with its natural environment and excellent infrastructure. The Quebec government provides generous support to immigrants in terms of immigration policies, investment options and development opportunities. Additionally, the requirements are relatively low, making Quebec one of Canada’s most sought-after immigration destinations.
Quebec has the second-largest population among the ten provinces in Canada and boasts abundant natural resources, dense forest coverage, mild climate and four distinctive seasons. The average temperature in summer is 25～5℃, while winter temperature is usually around -10~-25℃. The official languages in Quebec are French and English. Agriculture, manufacturing and mining are the primary industries in Quebec; its finance, insurance, legal, transportation and retail sectors are also thriving, with Montreal being one of the country’s major finance hubs. Compared with Hong Kong and other Canadian provinces, Quebec has a lower cost of living and Montreal’s housing prices are particularly attractive considering its size, influence and opportunities.
The province of Quebec is also known for its sound education system for public and private schools. Public primary, secondary and post-secondary non-tertiary education is free of charge. Quebec residents only have to pay one-fifth of the tuition fee in universities. With French and English being the two official languages in Quebec, children in public schools will, first, be educated in French until the end of their secondary education. This language exposure is hugely beneficial for your children to master multiple languages from a young age.
The province also provides comprehensive health insurance for its residents. Generally speaking, regardless of your economic status, all new immigrants can enjoy health insurance coverage after a three-month waiting period, including prescription drug insurance (which you can opt for public or private), public insurance to cover work injuries and occupational diseases, as well as general car insurance.
Business Environment in Quebec
As an economy benefiting from the North American Free Trade Agreement (NAFTA) framework, Quebec has access to the vastly important North American commercial market. Additionally, Quebec has a well-developed transportation network, with roads, airports and railways connecting to New York City, Boston, Philadelphia, Toronto, Detroit, Chicago and beyond, as well as throughout all parts of Quebec and Canada. The modern and effective transportation and telecommunication networks are proven to be significant advantages for investors.
Quebec has one of the lowest corporate tax rates in North America, and office rental costs are inexpensive as compared to other major cities in North America. Many immigrants have decided to acquire existing local operations as a way to start their own business. Investment Quebec also offers numerous funding schemes to support businesses and help them build long-term partnerships locally and internationally.
Details of Quebec Immigrant Investor Program (QIIP)
- Candidates must demonstrate a personal net worth of at least CAD 2 million, obtained through lawful means. Assets belonging to the candidate’s accompanying spouse can also be considered. Real estate, bank account deposits, pension funds, and stocks and bonds may likewise be included;
- The applicant must have at least two years of management experience obtained within the five years preceding the application submission;
- The applicant intends to settle in the province of Quebec.
- Candidates must first pay a lump sum payment of CAD 350,000 made to an authorized financial intermediary as the financing fee;
- Following the payment by the candidate, the financial intermediary will invest the amount of CAD 1.2 million into a passive government guaranteed investment for a 5-year period;
- During this period, revenue generated from the investment will be utilized to provide financial assistance to two of Quebec’s business assistance programs: The Business Assistance- Immigrant Investor Program (BAIIP) and Employment Integration Program for Immigrants and Visible Minorities (PRIIME).
- Secure a quota with the help of Simard & Associates;
- Lawyers and consultants at Simard & Associates prepare the application form and essential supporting documents;
- Submission of the file to the Montreal office of the Ministere de l’Immigration, de l’Inclusion et de la Diversite;
- File processing by the Government;
- After the analysis by the Quebec Immigration Office, different scenarios may arise:
- An immediate decision regarding the application;
- Request for specific additional documents (handled by Simard & Associates);
- Immigration interview (preparation will be provided by Simard & Associates).
- Once the file is accepted, pay CAD 350,000 to the financial intermediary;
- Receive the Quebec Selection Certificate;
- Apply for Canadian permanent residency
Frequently Asked Questions?
1. What is the language requirement in Quebec?
Quebec Immigrant Investor Program (QIIP) does not have a language requirement. Should the candidate not meet other requirements like age or education, they may use the IELTS test to add points to their application. Candidates who possess intermediate level French (541 or above in TEF exam) can be fast-track in the review process and will not be limited by the normal processing time or quotas.
2. How long does it take to immigrate to Quebec via QIIP?
It typically takes around 1 to 1.5 years from the submission to The Ministry of Immigration, Francisation and Integration to the issuing of the Quebec Selection Certificate(CSQ). If the candidate possesses B2 level in French, it normally takes around 3 to 6 months to obtain the CSQ. After being selected by the Quebec government, candidates can apply for permanent residence with the Centralized Intake Office. The processing time is generally around 3.5 years.
3. What projects do I have to invest in?
The Quebec Immigrant Investor Program is a channel for investors, along with their families, to immigrate to Quebec and obtain residency status through investing in eligible funds approved by the Quebec government. The investment must be managed by an authorized financial intermediary; the investor cannot and does not need to choose the project to invest in. All funds are guaranteed by the Quebec government, hence, this is a risk-free investment.
As an experienced immigration consulting agency, Simard & Associates has extensive expertise in immigration solutions in Canada, the United States and various European countries. Not only do we have an office in Montreal, but our team is also made up of some of the top local lawyers and consultants in Quebec to handle the complex application process for those choosing the Quebec Immigrant Investor Program (QIIP).
If you wish to learn more about the Quebec Immigrant Investor Program (QIIP), feel free to contact our consultants for more details.
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