Quebec Immigrant Investor Program (QIIP)
Quebec Immigration Investor Program was introduced to encourage immigration of entrepreneurs and their families into Canada. The scope of the program allows applicants to obtain unconditional permanent residency on the basis of passive investment. The program runs for limited period every year. It has a threshold of accepting 1,900 applications in each time-frame and welcomes around 5,000 new permanent residents each year.
Advantages of Quebec Immigrant Investor Program
- The application is simple to fill and does not require a visit before submission.
- As compared to other programs, there are no conditions to migrate to Canada under QIIP.
- Dependent children, up to the age of 22, can take admission in Canadian universities and pursue their studies. It saves a fortune in comparison to the fees linked to obtaining a separate student visa.
- In case of the need, QIIP allows addition of spouse’s assets in the new asset column.
- The program is equipped with an ‘interview waiver’ for the cases that provide sufficiently clear evidence in the submission file.
- Quebec Investor Program is the only passive investment program under Canada immigration where the applicant is free to do anything after settling in Canada and securing the PR status.
- he Quebec investor Program does not hold any restriction on education, age or language skills (English or French).
Requirements of Quebec Immigrant Investor Program:
- The revised conditions under the Quebec Investor Program require the principal applicant and spouse to have the legitimate personal net worth of CAD$2000000.
- The principal applicant should have a minimum of 2 years of management experience in the last 5 years. The management experience can be in the commercial, industrial, farming or self-employed/family business.
- Intend of settling in Quebec and willingness to sign a contract of investment with a Trust or a Company.
Quebec Investor Program Processing Fee:
The processing fee under Quebec Investor Program for the first stage is CAD$15235 per family. It is non-refundable.
Steps to apply:
- The Quebec Investor Program requires a passive investment of CAD$1200000 for 5 years.
- The amount is refundable after 5 years without interest or the investor can submit another CAD$350,000, which is non-refundable. The balance amount of CAD $8,50,000/- is deposited by the Canadian intermediaries which is legally permitted.
- Formal financing schemes are available for interested applicants.
- The applicant can be invited for the interview if any. The interview can be conducted in Montreal or Hong Kong. Those who qualify under other selecting factors can be exempted from the personal interview. The final decision on giving such exemption lies with the visa officer. The final decision on giving such exemption lies with the visa officer.
- The applicant is guided at the time of interview and an immigration lawyer is made available on request.
- The selection certificate under the program is issued by the Quebec government upon giving the proof of investment.
- Post interview, successful applicants and their family members are issued a Quebec Selection Certificate (CSQ). This certificate is not a permanent visa.
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- The applicant fills out medical and security clearances at the federal level. It includes a presentation of documents that prove an applicant’s identity and civil status and a police clearance certificate. In addition, a medical examination by a Citizen and Immigration Canada certified physician is required.
- Canada Permanent Resident Visa is issued after approval of the above by the federal authorities, who do the final visa stamping.