July 16, 2015 – The Quebec Immigrant Investor Program (QIIP) will reopen for applications on August 31, 2015 through January 29, 2016. The QIIP facilitates immigration to Canada for qualified investors who undertake to settle in Quebec and make a passive investment via an authorized financial intermediary. The program is well suited to investors with business management experience seeking an expedited avenue to Permanent Residence in Canada.
In order to be eligible for the program, applicants must:
- Have, alone or with an accompanying spouse, net assets of at least CAD$1,600,000
- Have experience in managing or owning a business or professional firm for at least two of the last five years
- Intend to settle in Quebec and sign an agreement to invest CAD$800,000 through an authorized financial intermediary.
Assessment of your application will review other factors such as your age, professional background and language skills.
Program and Investment Costs
Investors are required to make a passive investment of CAD$800,000 through an authorized financial intermediary in Quebec. This non-interest bearing passive investment must be maintained for five (5) years.
Investors have the option of financing their investment through an authorized financial intermediary at competitive interest rates.
In addition to legal fees, applicants must also pay a processing fee of CAD$15,000 to the Government of Quebec.
The program will accept 1,750 applicants, commencing August 31, 2015. No more than 1,200 applicants will be accepted from any single country.
Applicants fluent in French
Applicants who demonstrate intermediate language skills in French are eligible for priority processing and may make their application at any time before March 31, 2016. In addition, qualified French speaking applicants are not subject to program caps.
How to Apply
While in previous years preliminary applications were accepted for consideration, only completed applications will be considered in this round. As preparing an application is a lengthy process, it is important that work on your application begin well in advance of the August 31, 2015.
Interested investors should contact Green and Spiegel LLP as soon as possible to schedule a consultation.