What Is the Quebec Immigrant Investor Program?
The Quebec Immigrant Investor Program (QIIP) is an extremely popular and prestigious pathway for obtaining a permanent residence in Canada. For high-net-worth individuals with experience running a business, this immigration pathway offers a streamlined way to Canadian residency. While its high demand over the years has led it to become one of the most fast-filling programs, the QIIP was suspended in 2019 for a government review—only set to re-open in 2023.
However, a recent announcement has made an exciting reveal: the QIIP will be available to applicants near the end of this year. In this article, we’ll be covering some updates about the program, its former application’s eligibility, an outline of its process, and a breakdown of what we at Cian Immigration can do to assist you. As experienced Registered Immigration Consultants, we are committed to due diligence and accuracy to simplify your path to Canadian permanent residency.
Updated news about the QIIP
The upcoming re-opening of QIIP will be welcome news to many anticipating investors. However, while the final requirements have yet to be fully consolidated, a few announcements give an insight into what they may be. Language is the first one: applicants will perhaps be required to learn a basic level of French. The second point is actual proof of residency in Quebec—addressing previous criticism of the program as being a means for applicants to live elsewhere in Canada.
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Requirements aside, there is also great news for applicants too: the government plans to help new immigrating investors settle in Quebec faster than before. From temporary residence status during your wait for the application to speeding up processing times, the QIIP is set to be easier and faster for individuals participating in this program.
What are the eligibility requirements?
Through all its running years, the QIIP program has had a clear set of requirements —beyond an actual intention to settle in Quebec. In addition to a general assessment of your training, age, and language skills, here are the remaining 5 criterions briefly explained:
- A legal net-worth of a minimum of $2 million. While this amount includes any net assets owned by your spouse or partner, it is excluded from any donations accrued within 6 months of your application. To fulfill this first requirement, documentary proof of your net assets will be needed.
- At least 2 years of experience running a business. This criterion is to validate your capability to run a successful business and does not include your years as an investor. Within the last 5 years from your application date, you must be able to demonstrate experience that involves management, planning, and executive decisions over resources.
Do you have any question? We will be happy to hear from you.