Introduction

Exciting developments are in store for individuals aspiring to secure Canada PR through the Quebec Immigrant Investor Programme (QIIP), set to resume operations on January 1, 2024. After a temporary suspension in 2019, the QIIP has undergone substantial revisions. Prospective investors must familiarize themselves with the significant changes incorporated into the program's eligibility criteria.

Key Revisions in the QIIP (Quebec Investment Immigration Program)

French Language Proficiency: The revamped QIIP requires applicants to demonstrate high intermediate proficiency in spoken French, equivalent to level 7.

Residency Requirement: Applicants must reside in Quebec for a minimum of 6 months within two years of obtaining a work permit. Additionally, either the principal applicant or their spouse/de facto spouse must reside for another 6 months in Quebec.

Financial Criteria:

• Minimum net worth of CAD $2 million (including spouse’s assets).
• Mandatory 5-year risk-free investment of CAD $1 million with IQ Immigrants Investisseurs Inc. within 120 days of the Minister’s request.
• Non-refundable contribution of CAD $200,000 through a financial intermediary.

Management Experience: Applicants must have at least 2 years of management experience in the 5 years preceding the application.

Educational Qualification: Applicants must hold a diploma equivalent to at least a secondary school diploma in Quebec obtained before application submission.

Impact of the Changes

The revised QIIP emphasizes language proficiency, residency requirements, and significant financial commitments. While the program remains a valuable pathway to Canada PR, the stricter requirements may influence investor participation and Quebec’s competitiveness internationally.

Conclusion

With the reopening of the Quebec Investment Immigration Program, prospective investors should thoroughly understand the updated criteria. The program underscores Quebec’s commitment to attracting individuals who contribute to the province's linguistic, cultural, and economic development.

Reach Out to Our Experts

For more information about the Quebec Immigrant Investor Program (QIIP), contact our team of Canada immigration experts at XIPHIAS Immigration. Initiate your application today and take the first step toward your Canada PR journey.

FAQs

1. When will the Quebec Investment Immigration Program resume? A. The QIIP is set to resume on January 1, 2024.

2. What are the financial requirements for the QIIP? A. Applicants must have a net worth of CAD $2 million, make a CAD $1 million risk-free investment for 5 years, and a non-refundable CAD $200,000 contribution through a financial intermediary.

3. Is French language proficiency mandatory? A. Yes, applicants must demonstrate high intermediate French proficiency (level 7).

4. How long must I reside in Quebec under QIIP? A. The principal applicant must reside at least 6 months, and either the applicant or spouse must reside an additional 6 months in Quebec.

5. What are the educational and experience requirements? A. Applicants must hold a diploma equivalent to secondary school in Quebec and have 2 years of management experience in the 5 years prior to application.