Time is running out for prospective candidates for the Quebec Immigrant Investor Program (QIIP) to submit their applications.
The extended deadline set by the Quebec government to received the quota of 1,900 applications is August 31, 2019.
Quebec formally unveiled its new immigrant investor immigration program on July 18, 2018.
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The new QIIP, formally unveiled in July 2018, features increased investment and net worth requirements for the first time in nearly 9 years.
The new program requires an investment requirement of $1.2 million, up from $800,000. The qualifying net worth amount has increased to $2 million from $1.6 million.
What Are The Requirements Under The Quebec Immigrant Investor Program?
- Legally acquired personal net worth of $2 million;
- Two years of suitable management or business experience within the five years preceding the application;
- Investment of $1.2 million into a passive government guaranteed investment for a period of five years bearing no interest;
- Intend to settle in the province of Quebec.
Created in 1986, the Quebec Investor program is the largest and most popular Canada business and investment immigration program.
The 2018/2019 program began accepting applications on September 10, 2018.
A maximum of 1,235 applications will be accepted from China and Macau and up to 665 from elsewhere. Applicants with advanced intermediate abilities in the French language are not subject to quota limitations.
Since the federal government terminated its version in 2014, the Quebec program has dominated the Canada business immigration landscape.
It admits more business immigrants than all the provincial nomination programs combined, accounting for $1 billion in direct investment to the province since its inception.