The landscape of Canadian immigration is continually evolving, and with the latest update from the Government of Quebec, the Quebec Immigrant Investor Program (QIIP) is set to welcome a fresh wave of applicants come 2024.
Starting on January 1, 2024, the Quebec Immigrant Investor Program is reopening with updated rules. This is great news because the QIIP is a unique choice for business investors who want to move to Canada without starting a company, hiring employees, or risking their capital.
Continue reading this article to learn about all the changes in the program.
Program Eligibility and Requirements
To be a part of the QIIP, here are the essentials every applicant must meet:
- Management Experience: Two years of management experience within the last five years.
- Net Worth: A minimum personal net worth of CAD$2,000,000, obtained legally.
- Educational Background: Completion of education at least equivalent to Quebec’s high school level.
- Language Proficiency: You might need to demonstrate an intermediate level in French, equivalent to a B2 (Level 7) to ensure smooth integration into Quebec's culture. However, we’re still waiting for a clarification on this from the Quebec authorities.
- Investment Commitment: A contribution of CAD$200,000 to the Government of Quebec, along with a CAD$1,000,000 investment in a government bond, with financing options available.
- Residency Obligation: Obtain a work authorization valid for three years, and within two years from the date it's granted, fulfill the requirement of residing for 12 months, with at least six months by the main applicant and the remaining six months by either the main applicant or their partner.
As we await further details in the coming weeks, these core requirements outline the pathway for prospective applicants.
Admission Targets and Economic Growth
With the goal of admitting up to 7,900 people under the business immigration categories in 2024, Quebec is significantly increasing its intake by 83% compared to the projected number in 2023. This proactive step is set to reduce the current backlog, offering a quicker route for many waiting applicants.
Understanding the QIIP's Legacy
The QIIP has a storied legacy of enriching Quebec's economy and cultural landscape by attracting global investors. Its history is marked by its role in welcoming those who contribute their financial capital and business acumen to the province.
Staying Informed and Prepared
For those interested in the QIIP, staying informed on the latest developments is crucial. By filling out a simple form, investors can receive updates on intake dates and detailed requirements, ensuring they are ready to apply when the program reopens.
The QIIP's reopening with the new regulations in 2024 demonstrates Quebec's continued commitment to inviting international investors to contribute to its prosperity. With the program's reopening, it sets the stage for a new chapter in Quebec's vibrant economic story, presenting exciting opportunities for business investors worldwide.
At High Net Worth Immigration, we can help you prepare and navigate the process of applying for Quebec’s Investor Visa with ease. With over a decade of experience, rest assured that you are in good hands and on the path to obtaining a highly sought-after Canadian Permanent Residency.