What Canada’s changes to the QIIP mean for you
13 September 2018
The Quebec government have announced that applications for the Quebec Immigrant Investor Program will reopen on 10th September 2018, alongside a number of requirement changes that may affect you if you’re considering starting a new life in beautiful Canada.
Applicant investment is now CAD$1.2 million
You’ll now be required to invest CAD$1.2 million in a government-guaranteed bond for five years. At the end of this period, the full amount will be returned to the investor without any accrued interest.
Financed investment is now $350,000
Financial intermediaries can still offer the one-time / upfront financing option, where the applicant only pays approximately CAD$350,000 (non-recoverable) in fees and interest.
Net worth requirement has increased to CAD$2 million
Each applicant must now be able to prove that they have a legally acquired net worth of at least CAD$2 million.
Other requirements that have not changed
The quota remains at 1,900 applicants of which a maximum of 1,235 may come from China. French speaking applicants are not subject to the quota.
The main applicant must have business management experience in two of the last five years preceding the application.
In addition, the applicant must have the intention to settle in the province of Quebec.
Despite these changes, the Quebec Immigrant Investor Program still remains one of the most sought after visas for successful individuals and families. Canada provides a cosmopolitan, family-friendly lifestyle, with several vibrant cities that host a wealth of cultural, social and sporting events.
Canada's economy is one of the best performing in the world, propped up by a bounty of natural resources including the second largest reserves of oil. Canada’s high standard of living and business opportunities make it one of the most desirable destinations on the planet, and when the Quebec Immigrant Investor programs reopen we expect to be inundated with applications.
To beat the rush and begin planning your application for the Quebec Immigrant Investor Program, simply contact our North American expert Christopher Willis.