Quebec is one of the major provinces in Canada with excellent infrastructure and a strong economy. The Quebec Immigrant Investor Program (QIIP) is focused on attracting talented entrepreneurs globally to Quebec.
The intake for the QIIP is now open. The program will accept 1,900 applications globally till 15th March 2019, as per CIC. Out of these 1,235 applications are reserved for Hong Kong, China, and Macau. Rest 665 applications would be accepted from the rest of the world.
The QIIP is the only entrepreneur program running in Canada which grants Permanent Residency through a passive investment. This means that the applicant is required to make an investment in the province for a period of 5 years. There is no requirement of setting up a business or job creation.
The eligibility criteria for the QIIP have been revised on the 2nd Aug 2018. Applicants would now be required to make an investment of CAD $ 1.2 million in the province of Quebec. Also, they would need to provide evidence of having a net worth of CAD $ 2million acquired through legal means. The investment and the net worth requirements have been raised from the earlier CAD $800,000 and CAD $1.6 million respectively.
Below are the eligibility criteria for the QIIP:
- Investment: Applicants would need to make an investment of CAD $1.2 million in the province of Quebec. The investment has to be made through a financial intermediary approved by the Quebec Govt. The investment amount can also be financed. The investment amount is guaranteed by the Govt. of Quebec and will be returned to the applicant after 5 years.
- Net Worth: The applicant needs to have acquired a personal net worth of CAD $2 million. Assets which are in the name of the spouse or common-law partner will also be considered.
- Management and Business Experience: The applicant should have a minimum of 2 years of management experience in the recent 5 years. The experience should have been acquired in a full-time position in any specific industrial, commercial or agricultural enterprise. The applicant would need to demonstrate that he was responsible for supervision, planning, and control of finances, human resource, and materials under his authority.
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