The Quebec Immigrant Investor Program is set to reopen on 10th September for a total of 1,900 applications.
This is the only provincial immigration stream that allows applicants to obtain permanent residence through a passive investment. While other Canadian provinces do operate immigration streams for entrepreneurs that require candidates to actively run a business, the Quebec Immigrant Investor Program requires candidates to only make an investment in Quebec for a five-year term.
However, the level of investment has been significantly raised since the program was last open.
Whereas previously an applicant needed to be in possession of net assets worth CDN$1.6 million and make an investment of CDN$800,000, the new rules require net worth of CDM$2 million and an investment of CDN$1.2 million.
The investment must be for a five-year term with a subsidiary of Investissement Quebec and the investment agreement must be made through a financial intermediary authorised to participate in the program. The investment is guaranteed by the Quebec government and will be returned in full after five years.
Other eligibility requirements include being over 18 years of age, having management experience, showing intention to settle in Quebec and scoring a certain number of points under Quebec’s points system.
The window for applications is set to remain open until 15th March 2019, although quotas for the Quebec Immigrant Investor Program do tend to fill quickly and the window will close once the intake target is reached.
Article published 7th September 2018