The Quebec Immigrant Investor Program is not open for accepting new application between the period November 1, 2019 and July 1, 2020.
The Quebec Immigrant Investors Program is one and only immigration program launched by the provincial government of Canada that is specifically designed to attract foreign investors. Immigrant investors that have a net worth equivalent to a minimum amount of CAD 2 million can apply for the permanent residence visa of Canada and making an investment using the Quebec Immigrant Investor Program.
Although Quebec is predominantly a French-speaking province, but it not mandatory for the applicant to be proficient in the language to apply under the Quebec Immigrant Investor Program. However, French language proficiency could be considered as one of the important factors while selecting your profile for nomination under Quebec Immigrant Investor Program.
The Quebec Immigrant Investor Program could be described as passive in nature, which implies that the applicants are not required to start or actively operate a business in the province of Quebec.
Successful applicants are sent a selection certificate from the province of Quebec to immigrate to Canada, which enables them to obtain the permanent residence permit of Canada after passing the medical and criminality exams taken by the federal immigration authorities.
The Quebec Immigrant Investor Program is the only investor immigration stream of the Canadian Government which offers the selected candidates an array of advantages. Unlike some business investor immigration programs that exists for international countries, for instance the EB-5 program of the United States government which requires the applicant to generate a specific quota of jobs in a specific period of time, the Quebec Immigrant Investor Program does not have any such eligibility requirement.
In addition to this, the Quebec Immigrant Investor Program also provides permanent residency of Canada immediately after initial landing and therefore does not involve any intermediate temporary visa grant. The applicants are also allowed to include their immediate family members within the application and therefore obtain a permanent residence visa of Canada for their dependents as well.
Some more advantages of Quebec Immigrant Investor Program are as follows:
The Quebec Immigrant Investor Program determines the eligibility of the candidate by their willingness and ability to make a significant investment in Quebec. In order to become eligible, an applicant (along with their spouse, if applicable) would be required to demonstrate that they possess assets that have a net worth of at least CAD 2,000,000 and should also make an investment over a five-year term equivalent to CAD 1,200,000 in collaboration with the organization Investissement Quebec – Immigrants Investisseurs Inc.
Its mandatory for all applicants to sign the investment agreement in association with one of the participating financial intermediaries of Quebec.
Starting from January 1, 2020, all applicants that have applied for the permanent residence of Canada through Quebec immigration programs are needed to demonstrate that they comply with Quebec values. This can be done by the applicant by either completing a course in Quebec values or passing a Quebec values exam.
Minimum eligibility requirements to be fulfilled by Quebec Immigrant Investor applicants are described in the table below:
|Net Worth||A minimum of CAD 2,000,000 net worth, acquired legally, either alone or with the help of common-law partner or spouse if accompanying the main applicant. Assets that includes bank accounts, property, pension funds, stocks and share can also be incorporated.|
|Business or Management Experience||At least two years of management experience would be required, completed over the course of last five years before submitting the application. The experience should have been acquired in a specific industry (agricultural, commercial and more), or in an international agency or government program under a full-time employment. It’s not necessary for the company to be profitable. If the prior management experience is identified as a professional designation, then the company must have a minimum of two full-time employees (excluding their candidature).|
|Investment||Agreement to invest a total sum equivalent to CAD 1,200,000 using an authorized financial intermediary for a period of five years while bearing no interest. Also, this investment can be financed.|
The applications under the Quebec Immigrant Investor Program are accepted only during designated intake period in a year. The provincial government of Quebec declared that the Immigrant Investor Program will remain closed for new applicants starting from November 1, 2019 till July 1, 2020. It is not also guaranteed if new applications will be accepted even after July 1, 2020 as Quebec immigration ministry will announce more details regarding the application procedure around this date.
New permanent residents are accepted by the provincial government of Quebec through a two-step application process:
Once the application gets an approval at both the federal and the provincial level, an applicant can be considered to have approved for the Canadian permanent resident permit.
To apply for the Quebec Immigrant Investor Program, interested applicants are required to submit a paper-based application along with all the necessary immigration forms and also need to present supporting documents. For investors, immigration officers will specifically ask to demonstrate the intention to live and work in Quebec and will ask to submit proof towards prior management experience, details related to their personal assets and official investment agreement.
Applications submitted for the Quebec Immigrant Investor Program should be submitted in hard-copy format through courier towards the Direction de I’enregistrement et de l’evaluation comparative situated in the city of Montreal. Once the application gets approved by the immigration department and CSQ gets issued, the investor then can apply on the subsequent federal level for the permanent residence of Canada.
The Quebec Immigrant Investor Program is at present the only immigration program that is specifically launched by the Canadian government to specifically attract foreign investors.
However, international investors that have relevant entrepreneurial experience, there exists an array of immigration options to Canada. The federal government’s Start-Up Visa Program is one of the many options for international entrepreneurs who have their innovative business idea been chosen by a recognized organization in Canada. In addition to it, many provinces across Canada offer different entrepreneurial immigration streams under their respective provincial nominee immigration programs such as those for Quebec, British Columbia and Ontario.
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