If settling in Quebec is what you wish for, you must know about Quebec Immigrant Investor Program 2023.
About Quebec
Quebec happens to be among the prominent provinces in Canada. With a booming economy and sound infrastructure, a lot of investors are considering Quebec for diverse reasons. It has the second-largest population among the provinces and boasts plenty of natural resources, a mild climate, dense forest coverage, and four unique seasons.
Quebec’s official languages include French and English, and its primary industries are agriculture, manufacturing, and mining. Compared to Hong Kong and other provinces in the country, Quebec has a lower cost of living.
What is the Quebec Immigrant Investor Program (QIIP)?
Introduced in 1986, the Quebec Immigrant Investor Program (QIIP) is a way for successful business individuals who intend to reside in Quebec. Also, this program allows them to secure permanent residence in exchange to make an investment with the Canadian province.
Interest, which is generated from these funds, is used to support Quebec’s economy. This is done by funding programs that target small- to medium-sized enterprises, and the incorporation of new immigrants and visible minorities.
Candidates for Quebec Immigrant Investor Program are assessed based on the factors mentioned below:
- Age
- French or English proficiency
- Experience in management
- Education level/areas of training
- The investment agreement
- Stay and family in the province
QIIP is for experienced investors with significant assets as well as personal net worth, which they are looking to invest in the Quebec province. The applicant is required to have the wish to settle in this French-speaking province.
The chosen candidates apply for the Certificat de selection du Quebec (CSQ – Québec selection). And the accepted certificate enables them to apply for Canadian permanent residency. After getting acceptance, the candidate has to submit approval from the Federal Immigration Authorities of Canada for health and criminality examinations.
Some Main Features of the Quebec Immigrant Investor Program
Permanent Residency in Canada
The immigrant investors who are selected in QIIP get Canadian permanent residency. It is a great advantage as the applicants and their families can reap the benefits from free healthcare, education, and several other benefits that permanent residents enjoy.
Language Ability
The candidate with “advanced intermediate” ability in French will not be subject to the cap.
Risk-Free Investment
Quebec Immigrant Investor Program offers investment with no risks. The Government of Quebec guarantees the investment. The amount of investment is low compared to other investment programs and returns after 5 years.
No Waiting Period
Quebec Immigrant Investor Program or QIIP does not apply prerequisites for PR i.e. creating employment. Your QIIP selection will result in your permanent residency.
Why Choose the Quebec Immigrant Investor Program?
Here is a list of reasons why choosing QIIP (Quebec Immigrant Investor Program) is your best bet:
- Quebec is the best place to live, work, study, and do business in the world.
- Montreal is Canada’s second biggest city with a mostly French-speaking population
- Quebec has one of North America’s lowest tax rates on corporate profits
- Active and rewarding real estate market
- QIIP offers a simple path to obtaining Canadian citizenship after 3 years
- No language requirement
- Multiculturalism and multilingualism
- Families can reside anywhere in the country
- Robust Quebec economy with reasonable living costs for economic immigration
- Outstanding public and private healthcare system
- The province of Quebec has top universities, including Concordia and McGill for education
- The Canadian passport is one of the world’s best and most powerful passports in terms of visa-free access
Requirements for Quebec Immigrant Investor Program
To qualify for the Quebec Investor Program, applicants are required to meet the following basic requirements. An investor should:
- Have net assets of no less than CAD $2 million. This amount must have been obtained in a legal way and it cannot contain amounts that are received by donation within 6 months of the application date. Also, this amount should include assets of the applicant’s spouse or common-law partner.
- Have an experience in management in a legal farming, industrial, or commercial business. Or they should have experience in a legal professional business where the staff, apart from the investor, occupies no less than the equivalent of two full-time jobs, or for a global agency or a government.
- Intend to settle down in the province of Quebec and sign an agreement to make an investment of CAD $1,200,000 with a financial mediator (broker or trust firm) authorized to take part in the Quebec Immigrant Investor Program.
- Meet the least possible points as outlined on the Quebec Investor Points Assessment Grid.
Language Requirement in Quebec
Quebec Immigrant Investor Program does not have a language requirement. If the candidate is not able to meet other requirements like age or education, they may possibly take the IELTS test for adding points to their application. Applicants who possess intermediate-level French (541 or above in the TEF exam) can be accelerated in the review process. They will not be limited by the normal processing time or quotas.
