The Quebec Immigrant Investor Program has extended its pause until March 31, 2021. It was previously scheduled to reopen in July, 2020.
The Quebec Immigrant Investor Program is the only immigration program in Canada specifically designed for immigrant investors. Foreign investors with net assets totalling at least CAD$2 million may be eligible to apply for Canadian permanent residence by signing up to invest through the Quebec Immigrant Investor Program.
Though the province of Quebec is a predominantly French-speaking province, the Quebec Immigrant Investor Program does not require a person to have French-language proficiency as a part of the application. However, language proficiency may be considered when selecting applicants.
Why choose the Quebec Immigrant Investor Program?
The Quebec Immigrant Investor Program is Canada’s only passive investor immigration program, with a number of other advantages. Many business investor immigration programs internationally, such as the EB-5 program in the United States, require individuals to create a certain quota of jobs within a specified time frame.
The Quebec Immigrant Investor Program has no such requirement.
Moreover, the Quebec Immigrant Investor Program also brings Canadian permanent resident status upon initial landing, with no interim temporary status. The applicant’s immediate family members may also be included on the application and obtain Canadian permanent residence, enjoying all the benefits that this status bestows, including universal health care and access to world-class education.
Who is eligible for the Quebec Immigrant Investor Program?
Eligibility for the Quebec Immigrant Investor Program is determined by a person’s ability and willingness to invest in the province of Quebec. To be eligible, an applicant (and their spouse, if applicable) must have net assets of at least CAD$2,000,000 and must make a five-year term investment of CAD$1,200,000 with the organization Investissement Québec – Immigrants Investisseurs Inc.
The Quebec Immigrant Investor Program also requires applicants to demonstrate that they have at least two years of management experience obtained in the five years preceding their application. This experience must be related to the planning, management, and control of financial, human, or material resources.
All applicants have to sign an investment agreement with one of Quebec’s participating financial intermediaries.
As of January 1, 2020, all applicants for permanent residence through Quebec immigration programs are required to show they understand Quebec values. This can be done by passing a Quebec values test or completing a course in Quebec values.
How do you apply to the Quebec Immigrant Investor Program?
The Quebec Immigrant Investor Program only accepts applications during designated intake periods. Quebec announced that the Immigrant Investor Program is closed to new applications from November 1, 2019, to July 1, 2020. It is not guaranteed that new applications will be accepted after July 1, 2020. Quebec’s immigration ministry will release more details closer to this date.
Quebec uses a two-step application process to admit new permanent residents.
- Selection: Selection occurs at the provincial level. All Quebec immigration applicants have to apply to the province of Quebec for a Certificat de sélection du Québec (CSQ).
- Admission: Admission occurs at the federal level. Once a person has a CSQ, they must apply to the federal government for Canadian permanent resident status. As with all permanent residence applications, applicants must pass through a medical exam and police background check to ensure they are admissible to Canada.
Once an application has been approved at both the provincial and federal levels, an applicant may be approved for Canadian permanent resident status.