Quebec offers high net worth immigrants the Canada PR through its Quebec Immigrant Investor Program. To gain Permanent Residence you would need to have a personal net worth of CAD $2 million. Also, you would need to make an investment of CAD $1.2 million in Quebec.
The investment for QIIP can also be financed. Quebec has a “walk-away” financing scheme where investment can be made through a recognized intermediary. The liquidated cost is around CAD $350,000 when financing through approved “walk-away”. The liquidated cost also depends on the prevalent interest rates.
QIIP is the only option in Canada where immigrants can make a passive investment and secure Permanent Residence.
From 10th September 2018 to 15th March 2019, QIIP will accept maximum 1900 applications, as per CIC. Out of these 1235 applications are reserved for the countries Hong Kong/ Macau and China. Remaining 665 applications will be accepted from rest of the world.
To be eligible for this program, you need to have acquired a personal net worth of CAD $2 million legally. The applicant needs to have at least 2 years of business or management experience in the recent 5 years. The applicant will also need to invest CAD $1.2 million in a guaranteed investment by the government passively. The applicant will also need to prove his intention of settling in Quebec.
The below process needs to be followed to apply under this category:
1. You would need to submit supporting documents for your managerial experience and your net worth. You would also need documents showing the history and legality of your accumulated net worth.
2. Your application is reviewed by a licensed financial intermediary approved by the Quebec Immigration authorities
3. The application is then submitted to the Quebec Immigration authorities post which a file number is issued within 30 days
4. You would be called for an interview or receive a waiver within 12 months of submission. After the interview, the decision is declared within 30 days.
5. After a positive declaration, an applicant gets 110 days to make the Investment in Quebec. Post this the applicant receives the Quebec Selection Certificate (CSQ).
6. After receiving the CSQ, you would them need to submit your application for PR to IRCC. Your PR Visa will be issued after complete verification and medical checks by the federal authorities.
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If you are looking to Study, Work, Visit, Invest or Migrate to Canada, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.
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