On May 29, 2017 Canada opened a unique Canadian business immigration program- the Quebec Immigrant Investor Program (QIIP) This program is exclusively for international investors and offers them an opportunity to become permanent residents of Canada by making a risk free investment (guaranteed by a Quebec government entity) worth $800,000 CAD. The government has decided to accept up to 1,900 applications during this intake period, which is expected to run until February 23, 2018. Also, about 1,330 applications are to be accepted from the foreign nationals from the People’s Republic of China, including the administrative regions of Hong Kong and Macao.
Sources reveal that the QIIP is Canada’s only passive investor program with many benefits. The most unique factor about this program is that unlike other Canadian/international business programs that require individuals to create certain quota of jobs within a specified time-frame, nothing as such is required in this program. Moreover, the investors get PR status upon landing without any interim on Work permit. Another benefit is that the applicant can include his immediate family members in the application & all get PR status along with PR benefits. Furthermore, in future the applicant can claim Canadian Citizenship & right to Canadian passport.
Eligibility Criteria & Requirements
- Investment– Applicant must be willing to invest CAD $800,000 through an approved financial intermediary (broker or trust company).
- Net Worth– Whether the applicant is willing to move along or have his family accompanied with him, he must have assets of at least $1,600,000 CAD (which has been obtained legally). Assets like bank accounts, property, stocks & shares, pension funds etc. can be included.
- Management experience– Applicant must have a min. 2 yrs of management experience gained in the past 5 yrs. This experience can be gained from commercial activities, international agency or government department or agency.
Though French language is not mandatory, applicant with French language skills and proficiency are given an advantage of quota exemption. This means that they are exempted from this fixed quota and can apply for PR under this program anytime.
While this is an update on the latest business immigration program, we can help you know more on what’s in store in Canada for skilled migrants. Register for a free counselling on Canada Immigration and get complete details.
