11/08/2023
Quebec Immigrant Investor Program (QIIP) to re-open as of January 1, 2024.
Earlier today, the Government of Quebec published the final version of its updated immigration regulations. These regulations take effect for the Quebec Immigrant Investor Program (QIIP) as of January 1, 2024.
The QIIP is the only business immigration program in Canada that does not require the applicant to establish/buy a business, employ Canadians, or invest his money at risk. It is the only passive investment business immigration program in the country.
To be eligible, the applicant must
-Have two years of management experience earned in the five years before the submission of the application,
-Have a legally accumulated net worth of CAD$2,000,000,
-have completed studies equivalent to secondary education in Quebec,
-Demonstrate that he/she can speak French at an intermediate level (B2, Level 7),
-Within 120 days of their approval, make a CAD$200,000
-contribution to the Government and a CAD$1,000,000 fully guaranteed five-year investment in a Government bond (financing available),
-Receive a three-year work permit and, within two years of the issuance of that work permit, meet the 12-month residency requirement - six months by the principal applicant and another six months by either the principal applicant or spouse.
In 2024, the Government plans to admit up to 7,900 people in the Quebec business categories. This represents an 83% increase compared to the projected number for 2023, which will help clear the backlog of QIIP applicants whose cases are currently with IRCC.
If you or your friends are interested, please don’t hesitate to contact us at [email protected].