Just like other programs, the Quebec Immigrant Investor Program offers a huge opportunity to foreign investors to immigrate to Canada. It is an off-shoot of the Quebec Business Class Immigration Program. Many individuals from diverse countries have been able to achieve their dream of living and working in Canada by applying through this pathway. There are several factors you must note if you want to be among the successful candidates.
For instance, you are not obligated to establish or keenly engage in a business in the province of Quebec under this program. That is why the Quebec Immigrant Investor Program is said to be naturally passive. On the other hand, you will need to invest as high as $1.2 million into a government-approved investment.
Above all, you must intend to settle in the province of Quebec when you get to Canada. If you are successful through this program, you will receive a selection certificate that Quebec gives for Canada immigration. This enables you to get your permanent residency after passing your health and criminality exams by the federal immigration authorities.
This is not all you need to know about the Quebec Immigrant Investor Program. As you continue reading, we will unveil other elements like the advantages and requirements for the program.
In this article
- A Brief History of the Program
- How does the Quebec Immigrant Investor Program Work?
- What are the Benefits of the Quebec Immigrant Investor Program?
- What are the Requirements of Quebec Immigrant Investor Program?
- You must have a minimum legally acquired net worth of $2 million with the help of your law partner if they are accompanying you.
- You must demonstrate a minimum of two years business or management experience.
- It is necessary for you to make your investment with Investissement Québec for as long as five years.
- You must have an intention to settle in Quebec.
- Why was there a recent suspension of the Quebec Immigration Investor Program?
- What are the steps to apply for the Quebec Immigrant Investor Program?
A Brief History of the Program
Following the Canadian Immigration Investor Program, Quebec started accepting its immigrants since 1986. The aim was to attract the best of foreign nationals with business experience to Canada where they can help in developing the economy of the country. So, they are to make the investment directly to the government of Quebec. To compensate them for this investment, the candidates are offered automatic and immediate permanent residency to Canada and they can apply for citizenship when due.Life in Quebec City for Immigrants
How does the Quebec Immigrant Investor Program Work?
The program is classified under the Quebec Economic Class and candidates are selected based on several factors. The minimum passing score for the program is 40 points, while the cut-off scores for management experience and financial investment are 10 points and 25 points respectively must be met.
Furthermore, candidates under the Quebec Immigrant Investor Program receive their assessment depending on factors such as level of education and areas of training, level of business management experience, language proficiency in either English or French, age, investment agreement as well as stay and family in Quebec.
If you are an applicant with or without a spouse or common-law partner, the maximum points for you are 94 points. Equally, if you meet the minimum condition for management experience and financial investment, you will need just further five points to meet the passing score of 40 points.
With only one of the following requirements which offer additional 6 points, you can meet the necessary points:
- A post-secondary school technical diploma that indicates you spent one or two years of studies.
- An undergraduate university degree that indicates you spent up to two years of study
Besides, if you meet other conditions, you may be invited for a selection interview. It is also important for you to know that due to some reasons, the Quebec Immigrant Investor Program is on hold till April 1, 2023. You can check this page or the official page of the Immigration, Refugee and Citizenship Canada (IRCC) for more information.
What are the Benefits of the Quebec Immigrant Investor Program?
Here are some of the advantages you will enjoy if you apply to immigrate to Canada using this program:
- No risky investment: Your investment of $200,000 is guaranteed b the Quebec government and fully returned after five years.
- Passive investment: You are not required to be actively involved in the managerial role after making the investment.
- Family inclusiveness: All your immediate family members, including your spouse and dependent children, are part of your application and share the same status as you.
- Permanent residence status: This program will offer you a permanent residence status. And as a permanent resident of Canada, you will enjoy virtually all the benefits that Canadian citizens enjoy.
What are the Requirements of Quebec Immigrant Investor Program?
If you are applying to immigrate to Canada through the Quebec Immigrant Investor Program, you are to satisfy the following criteria:
You must have a minimum legally acquired net worth of $2 million with the help of your law partner if they are accompanying you.
With supporting documents, you must demonstrate how you acquired your funds over the period of your line of business. Further, you may include assets like property, bank accounts, shares, investor booklet, real estate evaluation, audited financial statement among other important and current documentations.
Moreover, you must prove beyond reasonable doubt that you obtained your asset through a legal means. But you do not have to bring evidence of your assets beyond $2 million. As a result, your past employment income, businesses, inheritance, donations and local market situation must be brought into consideration.
What is more, since it may be difficult to bring comprehensive documentation of the early stage of your career, bringing explicit supporting documents may help in facilitating the process.
You must demonstrate a minimum of two years business or management experience.
Remember that the aim of the Quebec Immigrant Investor Program is to attract the business expertise and investment to the province. Therefore, you must show proof that you have owned or actively supervised a business or trade. This may as well include professional practices involved in the process. Hence, it is not enough to own or oversee a business; you must be part of the development process. This includes the planning, management and control of financial, material and human resources that are under your influence. Likewise, the experience does not include such that you acquired through apprenticeship, training or specialization process through a diploma.
It is necessary for you to make your investment with Investissement Québec for as long as five years.
At the end of this period, your capital is given back to you without interest. More to the point, the five-year period starts the moment you receive the selection certificate, even before you get to Canada. Proceeds from the investment are utilized in several ways which include funding of diverse business and social programs across the province of Quebec.
Furthermore, the Quebec Immigrant Investor Program allows you to sponsor the major part of your investment through designated security brokerage firms and investment banks in the province. You are to deposit the sum of $1.2 million as down payment with Investissement Québec. This down payment is not paid back after five years. While the bank will take the fees and interest from it, the immigration agent will take the commissions.
You must have an intention to settle in Quebec.
This is very important because the investment will take place in Quebec. As an investor, if you meet the above conditions and wish to immigrate to Quebec, you can apply for a CSQ from the Ministère de l’Immigration, de la Diversité et de l’Inclusion (MIDI). Besides, the program only accepts paper-based applications and you must submit it in hard copy by mail or courier. Remember that other factors like your age, educational level, language proficiency and others must be put into consideration. Also, the Quebec Investor Program puts a restriction on the number of applications it will accept per time. In addition, it only takes applications for the duration of pre-determined application intake periods.Quebec Business Class Immigration Program
Why was there a recent suspension of the Quebec Immigration Investor Program?
At the time of writing this, the Quebec Immigrant Investor Program is suspended till April 1, 2023. There are two major reasons for this: The program recorded a huge accumulation of applications and also, many recipients of the program usually end up leaving Quebec for other provinces. If you could recall, one of the conditions of application is that the candidates must have the intention to settle in Quebec. Unfortunately, most foreign nationals use the opportunity to come to Canada, only to use it as an escape into any other province of Canada. To curtail this ill, the government of Quebec has put the program under review until April 1, 22023.
What are the steps to apply for the Quebec Immigrant Investor Program?
To apply for this program requires just two steps and they are:
- Selection process. This process is carried out at the provincial level. Thus, the candidates are to apply directly to the province of Quebec to receive their Certificat de sélection du Quebec (CSQ). Having the CSQ in hand will enable you to move on the federal government.
- Admission Process. This is the second step. It typically requires that medical exam and police check be conducted on you. As soon as you have submitted the essential documents and both the federal and provincial governments have approved your application, you will receive your permanent residency.
Immigrating to Canada through the Quebec Immigrant Investor Program, just like any other pathways, is not an easy process. That is why it is good for you to have an experienced lawyer by your side and that can considerably add to your chances of submitting an unbeaten application. When everything has been sorted out, you can receive your permanent residency and enjoy your stay in the province of Quebec.