Quebec Immigrant Investor Program (QIIP)
Canada offers the most comprehensive investment through the Quebec Immigrant Investor Program granting permanent resident status.
Significantly, Canada also offers social benefits with reasonable high levels of taxation and exceptional quality of life. The Canadian model creates an environment for business immigrants who can enjoy the perks of a national health care program, affordable and excellent education, and a national pension system with a stable income.
The Quebec Immigrant Investor Program is the only provincial immigration stream that allows candidates to gain permanent residence through passive investment.
Within the Quebec Immigrant Investor Program, applicants will be able to make investments for a five-year period while other Canadian provinces offering streams for businesses require that applicants run business actively.
New eligibility criteria became effective on August 2, 2018. The main changes include higher net asset and investment requirements.
Previously, net assets had to be CAD $1.6 million, and CAD $ 800,000 for investment. Now, entrepreneurs need to demonstrate their net asset of CAD $2million and investment of CAD $1.2 million.
As mentioned above, the investment must be for a five-year period, and the investment agreement must be concluded through a middleman who can participate in the QIIP.
The investment of CAD $1.2 million is guaranteed. It means that the Quebec government will reimburse its complete amount after five years.
Quebec Immigrant Investor Program Requirements
To meet requirements for the Investor Program, you should:
- Be over 18 years of age;
- Receive a passing score under Quebec’s point system;
- Have, alone or with your common-law partner, legally obtained net assets of at least C$2, 000,000, apart from any amounts received by donation less than six months prior to your date of application;
- Have at least two years of management experience in the five years prior to the date of submitting the application. This also includes any responsibilities related to the planning, management, and control of finances; human or material resources under your supervision before the application date for a selection certificate;
- Prove that you plan to settle in Quebec;
- Conclude an investment agreement with a financial intermediary (broker or trust company) legally allowed to participate in the Quebec Immigrant Investor Program;
- Make a five-year term investment of C$1, 200,000 with Investissement Quebec - Immigrants Investisseurs Inc.
The Quebec immigration authorities will evaluate you on other factors, such as your age, education and language skills, etc.
Quebec Business Immigration
Canada is one of the countries with favorable conditions for business immigration. At the same time, it’s an extremely attractive country where you can develop and establish a new business. Quebec Business Immigration can be a good alternative, for example, to an expensive investor program in the US.
Quebec can offer newcomer very good conditions. These are high quality of life, social benefits including reasonable income taxes and a loyal attitude towards foreigners. In frames of the Canadian model, Quebec business-immigrants can take advantage of the provincial health care programs. In addition, Quebec has a comprehensive education and national pension plan which ensures significant annual income after retirement.
Apart from the Quebec Immigrant Investor Program, The Quebec Business Immigration Program covers the Entrepreneur Program and the Self-Employed Program. The Quebec Immigrant Investor Program seeks to attract wealthy people, who are ready to make passive investments and obtain Canadian PR. Other entrepreneur programs are designed for successful entrepreneurs from all over the world, who want to create a new or develop an existing business in Quebec.
Other Immigration Opportunities in Quebec
What if you are unable to immigrate to Quebec through one of the entrepreneur programs? Well, in this case, you can try another opportunity. The most common way of immigration to Quebec is via the Quebec Skilled Worker Program. The program falls under the economic class category which attracts foreign specialists with post-graduate education and who have at least one year of work experience.
The main difference between the Quebec immigration program and the Federal Skilled Worker Program is the requirement to pass a French language proficiency test. In the same way, the Quebec immigration program isn’t part of an Express Entry system. It means that those wishing to immigrate to Canada through the province of Quebec shouldn’t open their profiles in the Express Entry system. On the contrary, they should submit their applications in the Arrima system.
International applicants for the Quebec provincial program get points based on a variety of factors. The most successful candidates receive a Quebec Selection Certificate after which they fill out another application to get permanent residence.
It’s important to note that if you decide to move to Canada through the Quebec Skilled Worker Program, you have more chances for immigration than through the Federal Skilled Worker Program. This is attributed by the fact that applicants are less interested in the Quebec immigration due to the reluctance to learn the French language. But consequently, there’s less competition. Therefore, most foreigners wishing to immigrate to Canada deprive themselves of the opportunity to immigrate to Quebec. Why? Because, as they explain, they don’t have a good command of French. But do they have enough English skills? Sure, English is more available than French; however, if you set a goal to learn French and put all your efforts towards it, you can reach this goal.