The Quebec Immigrant Investor Program (QIIP) – which qualifies investors who make an investment in Quebec through an authorized financial intermediary for permanent residence - is now accepting applications. Most applications are due January 29, 2016.
In order to be eligible for the program, applicants must:
- have, alone or with an accompanying spouse, net assets of at least CAD $1,600,000;
- have experience in managing or owning a business or professional firm for two of the last five years; and
- intend to settle in Quebec and sign an agreement to invest CAD $800,000 with an authorized financial intermediary (financing options are available).
Application assessment will also include factors such as age, professional background and language skills. Applicants who demonstrate intermediate language skills in French are eligible for priority processing and can apply until March 31, 2016.
While in previous years preliminary applications were accepted for consideration, this year, only completed applications will be considered.
The program will accept 1,750 applicants. No more than 1,200 applicants will be accepted from any single country. Applicants with French language skills are not subject to program caps.
What This Means for Foreign Nationals
Eligible foreign investors should benefit from the possibility of permanent residence that is offered by the new program. As preparing an application can be a lengthy process, interested foreign workers should contact their immigration professional to begin work on the applicationwell in advance of the cut-off date of January 29, 2016.