The Quebec Immigrant Investor Program or the QIIP is one of the oldest programs, almost 40 years old, launched under the umbrella of Canada investment immigration programs. Being launched in 1986, it is one of the best routes to Canada permanent residency or widely known as Canada PR for experienced investors, having significant personal net worth and assets. This Quebec business immigration program is specifically designed in a way that not only helps individuals to settle in the largest province of Canada but gives them an option to not actively take part in the business activities. Lets understand the same in the better way:
About Quebec Immigrant Investor Program: A brief
The maple leaf country i.e. Canada encourages businessmen and/or entrepreneurs, who are looking for new opportunities, to apply for the Quebec Immigrant Investor Program. Under this visa, there are two classes of business immigration candidates:
1) Quebec Investors
Under this category of Quebec business immigration, the investors should show the intention to live in Quebec province and also the province shall select them to go further in the process. In order to go ahead under this category, an investor ought to invest CDN $8,00,000 and should carry a net worth of CDN $16,00,000.
2) Quebec Entrepreneurs
In this category, the entrepreneurs selected by Quebec need to follow the province’s own condition rather than the federal government. In order to go ahead with the process under this category, the intention to live in Quebec must be shown. Also as an entrepreneur, you need to be picked up by the Quebec province in the immigration process. Accompanying all this, as an entrepreneur you need to show a net worth of $3,00,000. A point to be noted here is, if a candidate applies under one category, he or she cannot change the same after application is submitted. So as an applicant, it becomes very important that you select the right category.
Benefits of Quebec Immigrant Investor Program
There are numerous benefits on offer by this Quebec Immigrant Investor Program to the investors, making it a win-win situation for both i.e. the province and the businessmen or entrepreneurs:
1) Risk-free investment
The government of Quebec, secures your investment of CAD $12,00,000 and is returned back to the businessmen in five years.
2) No Active Managerial Role
As an investor, it is not compulsory to perform managerial role actively.
3) Chances of Canadian Permanent Residency
Under this Investor visa Canada, you can gain Canadian permanent residency, also known as Canada PR and enjoy the benefits like free public education , universal health care etc.
4) Inclusion of Family Members
The investors can bring their families with them and they will possess the same status as the main applicant himself or herself.
Quebec Investor Program Requirements
Net Worth
Minimum of CAD $2,00,000 net worth alone or with common law partner or with spouse.
Management of Business Experience
In the past five years from submission of application, a minimum of two years of business management experience is required. The experience can be in an enterprise or any government business or in an international agency as a full-time person. It is not necessary that the company shall be profitable. If the experience is claimed as the professional, then the company ought to have a minimum of 2 full-time employees which shall be exclusive of the candidate.
Also, it shall be noted that, the candidate applying for the Quebec Immigrant Investor Program can be retired as well while filing the application, but he or she shall provide the proof of experience they had in the recent past. These people shall demonstrate the experience to plan, supervise and control the finances or human resources. A point to be noted here is the experience of apprenticeship or a specialization process which is attested to the diploma will not be considered.
Investment
The candidate shall make an agreement for refundable, for 5 year term, risk-free investment to the sum of CAD $10,00,000 via IQ Immigrants Investisseurs Inc. and a non-refundable contribution of CAD $2,00,000 for this company, which has to be submitted 120 days of discussion of immigration. It is to be noted that these investments do not give interest.
Proficiency in Language
As per the Quebec scale of French proficiency, the primary applicant must have the knowledge of oral French which corresponds to level 7.
Education Qualification
Before the date of submission of application, the primary application must possess a diploma which shall correspond to the Quebec secondary school diploma.
Requirement of Work permit and physical presence
The successful primary applicant receives the work permit from the Ministère de l’Immigration, de la Francisation et de l’Intégration (MIFI). Till 2 years of issuance of this permit, the applicant with his or her common law partner or spouse, must stay at least 6 months.
As a part of the application process of Quebec Immigrant Investor Program an investor needs to fulfill the following criterias:
Step-by-step guide to QIIP application process
To be successful in this investor visa Canada one must follow certain steps. If you follow these steps and fulfill all the requirements, you can go through hassle free. With this being said, lets deep dive into the application process:
1) Quebec Immigration office receives your application.
2) The application is assessed by the officer.
3) Applicant has to give an interview or is waived off depending upon the requirement.
4) Wire Transfer has to be made at this step.
5) Application submission to Canadian Immigration Visa office.
6) Issuance of medical instructions.
7) Applicants have to provide their passport and have to pay the fee of Right of permanent residency.
8) Finally Canada permanent residency visa is issued.
Quebec Business Immigration – Fees
While the visa process starts and moves on, the applicants have to pay the requisite fee. This helps to have a smooth flow.
| Particulars | CAD ($) |
|---|---|
| Processing fee ($1810) + Right of permanent residence fee ($575) | 2385 |
| Spouse or partner processing fee ($950) + Right of permanent residence fee ($575) | 1525 |
| Dependent child inclusion | 260 |
Quebec Investor Program Processing Time
The processing time of the Quebec immigrant investor program depends on the number of applications received in the candidate’s area and current location of the application. With this taken into consideration, it might take 3 to 4 years for this visa to process. Within processing time of this visa, there are couple more processing time that are included in this:
1) Provincial Processing
To receive the Quebec Selection Certificate (CSQ) it might take up to 9 to 12 months.
2) Federal Processing
The Citizenship and Immigration Canada might take up to 3 to 4 years to process the application after the CSQ is received. All in all, this visa not only lets the business people open the door to Canadian opportunities but worldwide opportunities as well.
Quebec Immigrant Investor Program (QIIP) – FAQs
