Investment Programs

Québec Immigrant Investor Program

 

The Québec Immigrant Investor Program (QIIP) is the only passive investment immigration program in Canada that does not require applicants to own or manage a business in Canada upon completing the required investment. Applicants who have met all the selection conditions and completed the investment requirements will be able to obtain a work permit to stay in Québec while waiting to be granted a Québec Selection Certificate (CSQ). After meeting the minimum residency requirement and obtaining a CSQ, the applicant and their family members (spouse and dependent children) can apply for Canadian permanent residence.

 

Who is the QIIP Program Suitable For?

  • High-net-worth individuals with a traceable source of fund
  • Experienced business owners
  • Senior Executives with more than 2 years of senior management experience at the decision-making level
  • Those who want to apply and obtain Canadian permanent residence through passive investment and do not want to manage a business
  • Those who can speak intermediate French and would be able to reside in Quebec for at least 12 months with a Work Permit before submitting their Permanent Residence application

 

What Are the Advantages of the QIIP Program?

  • Passive investment - the investment of CAD $1 million dollars is guaranteed by the Québec government with zero interest
  • Applicants only need to make the required investment and financial contribution after receiving an acceptance decision from the Ministère de l’Immigration, de la Francisation et de l'Intégration (MIFI)
  • Avoid operational risk without having to run a business in Canada
  • No age restriction
  • Minimal educational requirement
  • After meeting all the selection criteria and passing an interview, applicants, and dependents can apply and obtain a 3-year work permit which allows them to move and stay in Québec
  • Family members (spouse and dependent children under 22 years of age) can be included in the application
  • Dependent children under 22 years of age can have their age locked in upon application submission

 

Eligibility Requirements:

  • Management Experience - Have at least 2 years of senior management experience in the last 5 years preceding application submission.
  • Net Worth - Have a net worth of at least CAD $2 million dollars. This can include spouse assets, assets such as real estate, bank deposits, stocks and bonds, guaranteed investment certificates, etc. Applicants must be able to provide documents showing that this net worth is legally accumulated with supporting sources and origin of invested funds. Any donations received in the last 6 months preceding application submission cannot be included in the amount of net worth.
  • Education - Have completed studies equivalent to a secondary school diploma in Québec.
  • French Proficiency – Show knowledge of spoken French of at least Level 7 proficiency in a French evaluation test (e.g. TCF Québec, TCF Canada, TEF Canada). French test results must be less than 2 years old at the time of application.
  • Obtain an attestation of learning about democratic values and Québec values – The applicant and accompanying spouse, as well as dependent children 18 years or older, must also obtain an attestation.

 

What are the Investment Requirements for the QIIP Program?

  1. The applicant will first sign an Investment Agreement with an authorized financial intermediary that has signed a participation agreement with the Ministère and with Investissement Québec – Immigrants Investisseurs Inc.
  2. Within 120 days upon request from the Ministère de l’Immigration, de la Francisation et de l'Intégration (MIFI), the applicant will need to make a 5-year term investment of CAD $1 million and a financial contribution of CAD $200,000 to Investissement Québec – Immigrants Investisseurs Inc. Applicants can choose to invest the CAD $1 million in full (full investment) or finance the required amount (financial investment). The financial intermediary will make the investment and financial contribution (donation) on the applicant’s behalf.

 

Full Investment:

The applicant will be required to make 5-year term risk-free investment of CAD $1 million to Investissement Québec – Immigrants Investisseurs Inc. through an authorized financial intermediary. The funds will be invested in a five-year government bond. At the end of the period, the guaranteed full amount will be returned to the investor with no interest.

 

Financed Investment:

The applicant may choose to finance the required investment amount. Under this option, applicants will pay a reduced amount used to finance a CAD $1 million five-year term loan from a financial intermediary. The loan is initiated and repaid at no further cost and without additional guarantees from the applicant.

 

Financial Contribution (Donation):

Within 120 days of the acceptance decision, applicants must make a mandatory CAD $200,000 non-refundable contribution (donation) to Investissement Québec – Immigrants Investisseurs Inc. through an authorized financial intermediary.

 

Review of Application to Obtain a Notice of Intention to Select:

  • After meeting the selection conditions and the Ministère de l’Immigration, de la Francisation et de l'Intégration (MIFI) has confirmed completion of the required investment requirements, the applicant may be invited to an interview to verify the information provided in the PR application.
  • If the applicant has met all the program conditions except for stay in Québec, they will receive a notice of intention to select.

 

Obtain a Work Permit and Reside in Québec for a Minimum of 12 Months:

  • The notice of intention to select will enable the applicant to apply and obtain a 3-year work permit from the Government of Canada to stay in Québec.
  • Within 2 years of work permit issuance, the applicant must demonstrate that they resided in Québec for at least 12 months.
  • During this 12-month period, a period of at least 6 months must be completed by the principal applicant. The other 6-month period can be completed by either the principal applicant or the spouse.

 

Obtain Québec Selection Certificate (CSQ) and Apply for Permanent Residence:

  • After completing the 12 months of stay in Québec, the applicant can obtain a Québec Selection Certificate (CSQ). This CSQ will allow the applicant and accompanying family members (spouse and dependent children) to apply for permanent residence.

 

QIIP Program Processing Time:

The current processing time is approximately 4 to 6 years from QIIP submission to PR approval. This processing time is for applications that were submitted long before the pause that took place in Nov 2019.

Due to the delay caused by the pandemic and the recent change of this program, it is now too early to estimate how long application processing will take for those who have submitted their applications after Jan 2024. Based on the above new requirement of the need to reside in Québec for at least 12 months before CSQ will be issued, there are enough reasons to believe that it will take at least three years for an average QIIP application to reach its PR approval stage.

For those who do not speak French or do not want to reside in Québec, they can consider other immigration programs such as the Start-up Visa Program (SUV) or the Provincial Nominee Program (PNP).  

 

To Discuss Further About the QIIP Program and Enquire About Your Canadian Immigration Options

If you are interested in the Québec Immigrant Investor Program (QIIP) and would like to inquire about your options for immigrating to Canada, speak to a Regulated Canadian Immigration Consultant (RCIC) recognized by the Canadian government. Our professional team is dedicated to assisting clients on a personalized basis based on their individual needs and qualifications with suitable immigration programs towards attaining immigration to Canada.

For further enquiries, please contact us at 28683780 or email inquiry@rothe.com.hk

 

Read MoreQuébec Immigrant Investor Program (QIIP) Will Resume on January 1, 2024

【Read MoreCanada Permanent Resident (PR) Card Renewal | Citizenship Application

Read MoreUnderstanding Canadian Permanent Resident (PR) Status and Citizenship | PR Card Renewal Requirements | How to Apply for Canadian Citizenship

 

Official Links:

Québec Immigrant Investor Program

Settle and Integrate in Québec

Québec Integration Services

 

Disclaimer

The information provided above is for general private reference purposes only and is not intended to be a comprehensive explanation of Canadian immigration laws or a substitute for professional legal advice. Rothe International Canada is not responsible for any losses caused by the use of the above information.

If you have any specific questions, you are welcome to contact Rothe International Canada directly at (852) 2868-3780 or fill in our online enquiry form.