Quebec Immigrant Investor Program

With the recent elimination of the Canadian Federal Investment Immigration Program, the Quebec Immigrant Investor Program (QIIP), launched in 1986, is the only Canadian investor visa program currently available to international business people in its class. It maintains the same investment criteria as the original Federal program, allowing some financial institutions in Quebec to provide partial loans and government guarantees for the funds invested by the applicants. It also reduces the burden on investors to transfer large amounts of foreign currencies out of the country. Most investment immigrants have chosen QIIP as a channel for obtaining permanent residency in Canada. Currently, QIIP accepts new applications with a quota of 1,900, 1,330 applicants of which are from China. The newest quota will be released before August 15, 2018.

Application Eligibility

  • Have legally obtained Net Assets of at least CAD$1,600,000
  • Primary applicant must have at least 2 years of management experience in business, in the 5 years preceding the application for a selection certificate, for duties related to planning, management and control of financial resources and of human or material resources under his or her authority
  • Must address strong intention to reside in Quebec
  • The investment of CAD$800,000 for a 5-year term is guaranteed by the Quebec government and at the end of the 5-year term, CAD$800,000 will be returned without interest
  • Other factors such as applicant’s age, education background, adaptability, language skills and working experience are considered

Application Procedures

  • Investment applicant must prepare all notarized documents which include National Identity Card, birth certificate, household register, marriage certificate, police certificate, documents demonstrating applicant’s business experience and net worth, education background, etc.
  • Complete the application form and submit along with all supporting documents to Quebec Immigration Service
  • After being reviewed by Quebec immigration authorities to check the completeness, official QIIP Acknowledgement of Receipt will be issued
  • Quebec immigration authorities ensure applicant satisfies all investor category requirements, including minimum legally obtained net worth and business management experience
  • Applicants who meet the selection conditions and criteria of the Immigrant Investor Program (IIP) will be have a personal interview with a Quebec immigration officer. Within 10 business days of being scheduled for an interview, candidates must submit updated documents and forms to Immigration Quebec personnel along with any other additional documentation
  • Upon the completion of a successful personal interview, applicant will be approved in principle, and request for investment will be issued
  • Applicant has a maximum of 110 days to complete the investment of CAD$800,000. If applicant chooses financing option through an authorized financial intermediary of the Quebec Investor Program, CAD$220,000 must be paid within this time frame
  • Upon receipt of investment, Quebec Immigration authority will issue a "Quebec Selection Certificate" or "Certificat de Sélection du Québéc" (CSQ). It signifies the applicant's approval at the provincial level
  • Application is then transferred to the Centralized Intake Office (CIO) of Citizenship and Immigration Canada to be processed at federal level
  • Once the assessment is completed, medical instructions will be issued
  • Upon completion of medical examination, applicant will be approved for immigrant visa

Processing Time

  • It typically takes 9 to 12 months for an investor category applicant to receive a Quebec Selection Certificate (CSQ) representing Quebec approval
  • After receiving a CSQ, it then takes approximately 3 to 4 years for the application to be processed federally by IRCC. As of January 2017, the official Quebec Immigrant Investor Program processing time listed on the CIC website was 45 months

Advantages

  • Applicant’s language skills and education background are not strictly required, but points will be given to those who demonstrate language ability and education level
  • Full investment amount of CAD$800,000 will be reimbursed to applicant after 5 years without interest
  • Applicant has the option to fully invest CAD$800,0000 or taking the financing option of paying interest of CAD$220,000 through an authorized financial intermediary