On 10th September, the Quebec Immigrant Investor Program would be reopened again. The application intake for the above program would be around 1,900 applications.
This is one and only provincial immigration program under business investor stream that enables the applicants to get Quebec Permanent Resident status by making a passive investment.
In other words, the applicants are required to make an investment in Quebec for a five-year term, whereas numerous Canadian provinces have immigration streams for entrepreneurs, which make it essential for the applicants to actively run a business in the province.
Criteria after Modification
Modifications to the above program’s eligibility criteria took effect on August 2nd; next week’s opening would be the first after modification.
The major modification includes an increase in the higher net asset as well as the meeting of investment requirement. For the above program, the net asset needed is CAD $2 million and investment requirement is CAD $1.2 million respectively.
Earlier the net assets required for the above program was CAD $1.6 million similarly the investment needed was CAD $800,000.
The investment should be for a period of 5- year term and the investment agreement should be made through the financial intermediary authorized to participate in the QIIP.
The investment made by the applicant of nearing to CAD $1.2 million is guaranteed by the Quebec government and would be returned to the applicant after successful completion of five years.
The other eligibility requirements include the applicant must be of 18 years of age and should be having experience in management and they must have the intention to settle in the Quebec province and must obtain passing score under Quebec’s Point system.
For new applicants, on 15th August this year, the other two immigration programs of Quebec are the Quebec Entrepreneur Program and the Quebec Self-Employed Worker Program was opened.
Quebec is a beautiful province, wish to settle in this province. Talk to our immigration experts to get all details and know where you stand in terms of being handed a successful visa.