The Quebec Immigrant Investor Program (QIIP) is a business immigration program designed to attract foreign investors who can contribute to the growth of Quebec’s economy. To be eligible for the program, Quebec investors must meet certain conditions and provide personal information.
Eligibility Requirements
- They must intend to settle in Quebec permanently. This means that investors should have a sincere desire to live and work in Quebec, and make a long-term commitment to the province.
- Investors must have a minimum net worth of at least CDN$2,000,000, which can be calculated using a net worth calculator. This net worth can be shared with their spouse or common-law partner who is accompanying them to Quebec. It is important for investors to demonstrate the legal origin and accumulation of their net worth, and grants received within six months prior to submitting their application cannot be included.
- Investors must possess a minimum of two years of management experience, which should encompass a diverse range of skills such as project management, leadership, interpersonal skills, problem solving, financial resource management, and human or material resource management. Experience gained through an apprenticeship, a training course, or a specialization leading to a diploma is not considered eligible.
- Investors are also required to enter into an investment agreement with a financial intermediary, such as an investment broker or a trust company, that has signed an agreement with the Ministère de l’Immigration, de la Francisation et de l’Intégration and IQ Immigrants Investisseurs Inc. This agreement mandates investors to make a five-year term investment of CDN$1,200,000 with IQ Immigrants Investisseurs Inc., which is guaranteed by the Government of Quebec. Financial intermediaries may also offer financing options for the investment.
- The application process includes the assessment of the investor’s application using a selection grid, which awards points for factors such as management skills, years of experience, and leadership skills. Investors must score at least 40 out of 89 points on the grid to meet the cut-off for factors and criteria that have an elimination threshold.
- Investors must obtain an attestation of learning about democratic values and Quebec values. When their file is opened, they will receive a request to obtain an attestation of learning about democratic values and Quebec values. They will have a maximum of 60 days after receiving this request to obtain their attestation. Members of their family accompanying them will also need to obtain an attestation.
- Investors must prepare and complete the required forms and documents. They must attach a narrative document to their application and use the guide to write the narrative document to write it. They must also complete the Declaration by a candidate practicing a regulated trade if they or their accompanying spouse are practicing or have training to practice a regulated trade or profession in Quebec.
- Investors must pay the required application review fee. The fees must be paid in full, in Canadian funds only, by them or a third party, when the application is filed or mailed. These fees are not refundable even if their application is rejected.
Application Review Process
After submitting their application, investors will undergo a thorough review process that includes an assessment of their application by means of the selection grid, an assessment of their language skills, and an interview. During the review process, the selection counsellor of the Ministère de l’Immigration, de la Francisation et de l’Intégration will verify the information and documents provided by the investors.
Certificat de Sélection du Québec (CSQ) and Permanent Residency
Once the application is accepted, investors will receive their Certificat de sélection du Québec (CSQ – Quebec Selection Certificate). They must then proceed with their immigration process with the Canadian government. As permanent residents, investors and their families can enjoy a range of benefits, including free healthcare and education in Canada, as well as the ability to work and travel freely.
Important Considerations
To increase the chances of success in obtaining a CSQ and achieving permanent residency in Canada through the QIIP, it is crucial to carefully review the eligibility requirements, submit accurate personal information, and follow the application review process. The QIIP has intake periods and is a popular option for investors who wish to establish themselves in Quebec and contribute to the province’s economy.