The processing time for Canada’s Quebec Immigrant Investor Program (QIIP) depends on the country that you are applying from. On average, it takes anywhere between 12 to 44 months for processing.
Wait times are shorter for North America, South America, and Western Europe. The processing time is 12 months. But, for countries like Hong Kong, Macau, and China, the wait time rises to 44 months.
QIIP is the only program in Canada which offers Permanent Residency through passive investment.
The cap for the current QIIP is set at 1900 applications. Applications will be accepted between 10th September 2018 to 15th March 2019. Out of the set cap, 1235 applications are reserved for China, Hong Kong, and Macau. The remaining 665 is for the rest of the world.
How can you qualify for QIIP?
To qualify for QIIP, you would need:
- To have acquired a personal net worth of CAD 2 million
- At least 2 years of business or management experience in the recent 5 years
- Make a passive investment of CAD 1.2 million in a Govt. guaranteed investment. The investment needs to be made for 5 years with no interest.
- Should demonstrate the intention to settle in the province of Quebec
What is the application process for QIIP?
- You would need to gather supporting documents for your personal net worth and business experience. You would also need to prove the historical and legal accrual of your assets.
- Your application would be reviewed for compliance. The review would be conducted by a licensed financial intermediary approved by the Govt. The intermediary would have quota allocations from the immigration authorities of Quebec.
- Once reviewed, the application would be submitted to the Quebec Immigration authorities
- A file number would be issued after 30 days of receipt of application
- You would receive a notice of interview within 12 months of the submission of your application. In some cases, the need for an interview is waivered.
- A decision on your application is taken within 30 days of your interview
- Applicants who have received a positive decision would need to make their investment within 110 days
- You would receive a Quebec Selection Certificate (CSQ) after making the investment. The CSQ certificate allows you to apply for Canadian PR.
- Submit an application for PR to the federal authorities. You would also need to submit a police clearance certificate and medicals.
- Depending on your visa office, you would receive your visa outcome within 12 to 44 months, as quoted by the CIC News.
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