The Québec Immigrant Investor Programme, is administered by the government of Québec and regulated by Bill 77, of 2016, chapter 3, the Québec Immigration Act. THIS PROGRAMME IS CURRENTLY SUSPENDED BY THE RESPECTIVE AUTHORITIESView Agents
Mobility : Permanent Residence in Canada
Minimum Capital Outlay : $ 1,217,030
Application Processing Time : ~ 47 Months
Physical Presence : Two years in any five-year period
Minimum Criteria : Direct or Financed Investment
Pre-requisites : Main applicant must be at least 18 years of age;Legally acquired net-worth of CAD 2 million;Two years of suitable business experience within the five years preceding the application;Demonstrate an intention to settle in the province of Québec;
THIS PROGRAMME IS CURRENTLY SUSPENDED BY THE RESPECTIVE AUTHORITIES
Canada is a country in the northern part of North America, with a population of circa 37 million. Its capital is Ottawa, and the official languages spoken are English and French, with a version of the latter sometimes referred to as French-Canadian, or Quebec French, spoken by circa 7.3 million. Canada uses the Canadian Dollar as its currency.
Canada is home to the most educated workforce in the OECD and several of the world’s top artificial intelligence pioneers. New immigration programs and rapid processing of visas for highly-skilled workers, facilitate the attraction of top talent. Canada is investing in an innovative, clean and inclusive economy, including focus on the areas of ocean sciences, artificial intelligence, advanced manufacturing, protein industry, and digital technology. Canada also has over 120 start-up incubators and accelerators supporting dynamic ecosystems across the country.
Such initiatives have led Canada to become recognised as being the easiest location in the G20 to start a business. The nation continues to lead the G7 nations in economic growth and have four of the top 10 financial centres in North America. Furthermore, the quality of life in Canada ranks number one in the world based on affordability, job market, family friendliness, income equality, political stability, safety and our well-developed public health and education systems.
Benefits of the Québec Immigrant Investor Programme
The Québec Immigrant Investor Programme (QIIP) allows applicants to achieve permanent residence status in Canada, meaning that one could live, work and study anywhere in Canada, furthermore, Investors and their family members may also be eligible to apply for citizenship if certain conditions are met.
The QIIP allows access to Québec’s advantageous cost of living, safe environment and rich and varied culture. Education is a major priority, attracting 6.6% of Québec’s GDP. Some of the key sectors of Québec’s economy include the aerospace industry, information technologies and multimedia, telecommunications, microelectronics and life sciences. Québec enjoys preferential access to US and European markets, exporting 46% of its production, with international exports reaching approximately CAD 73 billion in 2018.
Québec also presents attractive advantages for businesses including affordable labor costs, electricity rates among the world’s lowest, reasonably priced rents and competitive tax rates. The state-owned Investissement Québec which promotes investment in Québec, can help with financing programs, provide competitive fiscal incentives, acquire sound industry intelligence and forge productive strategic alliances with local and international partners.
To apply for permanent residence through the QIIP one of the following commitments is required:
Further to this, the amount of government-related administrative fees is approximately CAD 17,036 for a single main applicant, CAD 1040 for every adult dependent, and CAD 150 for minor dependents.
This means that the total capital outlay for a single applicant would amount to approximately CAD 1,217,036. This indicative amount excludes service providers’ professional fees.
The Application Process
The current intake period for The Québec Immigrant Investor Programme expires on 31st August 2019, with a quote of 1,900 applications. A maximum of 1,235 applications from foreign nationals from the People’s Republic of China, including the administrative regions of Hong Kong and Macao, will be accepted. Furthermore, Investor candidates who demonstrate, by means of a test recognized by the Ministère, that they have an advanced intermediate knowledge of French, are not subject to this maximum and can submit their application at any time. These applications will receive priority processing.
The application process typically commences with the signing of a power of attorney with a service provider to facilitate the liaison with the different stakeholders. During the review of your application for permanent selection, the immigration counsellor checks the information and documents you have provided. Depending on the program chosen, particular attention is paid to your intention to settle in Québec, your business experience, your investment agreement and your net assets and proof of their source and lawful acquisition. If necessary, the counsellor may ask you for additional documents.
Upon acceptance, you will receive a notice of intent for permanent selection that will allow you to make your CAD 1.2 million investment within 110 days. Following receipt of confirmation of your investment by Investissement Québec – Immigrants Investisseurs Inc., Ministère de l’Immigration, de la Diversité et de l’Inclusion will issue your Certificat de sélection du Québec. The current processing time for Economic Migration under the Québec Business Class is of 47 months.
Real estate is not an eligible investment for this programme;
Make an investment of CAD 1.2 million with Investissement Québec - Immigrants Investisseurs Inc., which must be retained for five years, after which it will be reimbursed without interest, within 30 days; or
Sign an investment agreement with a financial intermediary (broker or trust company) authorized to participate in the Investor Program, who may offer a financing option for the full CAD 1.2 million;
This programme does not require applicants to make a financial contribution to the state;
Investment must be kept for 5 years;
Intend to settle in Québec;
Must be physically present in Canada, for two years in any five-year period, to maintain permanent residence status;
The fees charged by the Québec government for processing immigration applications submitted under the Investor Program are of CAD 15,496 including any dependents;
The fees applicable for the Permanent Residency application include:
CAD 1,050 Processing fee for main applicant;
CAD 550 Processing fee for adult dependents;
CAD 150 Processing fee for minor dependents;
CAD 490 Right of permanent residence fee;
CAD 50 Permanent residence card (PR card);
To immigrate to Québec, applicants and their families are required to satisfy both Québec selection criteria and Canada’s admission requirements;
An application for permanent residence is refused if the applicant’s health or that of a family member (accompanying the applicant or not) is deemed to present a health or public safety risk or to result in an excessive burden on the health and social services in Canada, even if the candidate has obtained a CSQ;