Canada is one of the most preferred destinations for immigrants worldwide, and the quebec immigrant investor program (QIIP) is one gateway to become a permanent resident in the country. The QIIP was designed with the objective to attract high net worth individuals and their families to settle in Quebec. This blog post is created to provide you with an overview of the program’s basics, eligibility requirements, benefits, and more.
The QIIP is a passive investment program that requires an applicant to invest an interest-free amount of CAD 1.2 million with the Government of Quebec for five years. The deadline for the QIIP 2021 application is August 30, 2021, and the Quebec government plans to limit the program’s intake to 1,750 applicants.
To be eligible for the QIIP, you must have a net worth of CAD 2,000,000 and have experience in managing and operating a business. The QIIP language requirements include French proficiency, which is assessed through a standardized test. The applicant must also provide evidence of them having the legal source of funds for the investment and a clear criminal record.
After being a successfully selected applicant in the QIIP program, the Quebec government will issue a Certificate of Selection (CSQ), after which the applicant can apply for permanent residency in Canada. Applicants’ immediate family members (spouse and dependent children) can be included in the application, but they must meet the eligibility criteria as well. Permanent residency enables the applicant to live, study, work, and travel anywhere in Canada with no restrictions.
The Quebec government offers two investment options to the QIIP applicants. The first investment option requires an investment of CAD 1,200,000, which the Quebec government will return after five years without any interest. The second investment option requires an investment of CAD 1,200,000. The Quebec government also offers financing options to the applicants looking into this program in some situations.
The processing time for your QIIP application can range between fifteen to forty-two months depending upon your profile and eligibility. Once assessed, the Quebec immigration authorities might request an interview to assess your application’s validity.
In conclusion, the Quebec Immigrant Investor Program has several advantages that make it an attractive option for wealthy individuals and families. The application process can be complex and lengthy, but it is worth the investment. The QIIP application process involves submitting the relevant documents, providing evidence of legal source of funds, presenting your case before the immigration authorities, and fulfilling the French language requirements. Overall, it’s a great option for those looking to settle in Canada and enjoy the benefits of being a permanent resident.