Quebec Immigrant Investor Program Eligibility

Quebec Immigrant Investor Program

On May 29, 2017 a new Canadian business immigration program opened known as the Quebec Immigrant Investor Program (QIIP). This program gives international investors the opportunity to obtain permanent resident status in Canada by making a risk-free $800,000 CAD investment guaranteed by the Quebec government entity.

When investing through the QIIP you do not need to create a quota of jobs within a specific timeframe. Most other investor programs in Canada and abroad require a quota within a certain time frame such as the EB-5 Program in the United States.

When investing through QIIP, you and your immediate family members (spouse and children) get permanent resident status upon landing, with no interim status on a work permit. You and your family members can enjoy all the benefits when obtaining status in Canada such as free health care.

The first intake period will run up to February 23, 2018 and up to 1,900 applications will be accepted and maximum of 1,300 of these applications is accepted from the People’s Republic of China, including the administrative regions of Hong Kong and Macao.

Applicants that speak and write French fluently are not limited to the cap and can submit their QIIP application at any time. Applicants that speak and write French fluently are given priority processing.

Quebec Immigrant Investor Program Requirements:

The primary requirements under this category include:

• Having a legally acquired personal net worth of $1.6 million CAD either alone or with an accompanying spouse or common-law partner. Donations that are received less than six months before the date on which application was filed cannot be included. You may include assets such as property, bank accounts, stocks, funds, pension and shares.
• Having two years management or business experience within the five years of filing the application.
• Committing to making an investment of $800,000 CAD into a passive government guaranteed investment for a period of five years bearing no interest. The five year period starts upon issuance of the selection certificate, before the applicant lands in Canada. These funds for investment are used to fund various business and social program with the province of Quebec. The program allows applicants to finance their investment through designated securities brokerage firms and investment banks. If you cannot invest $800,000 you are required to make a down payment of $220,000. The bank then will loan the applicant the balance of $580,000 in which then the applicant has to deposit the total sum of $800,000 with Investissement Québec. The $200,000 down payment in non-refundable, the bank takes the fees and interest from the down payment and the immigration agent takes his/her commission from the down payment. Therefore the net cost to the investor is the down payment.
• Intend to settle in the province of Quebec

Do I need to go through Medical Examination?

When submitting any type of application for permanent residency the applicant and his immediate family members have to go through medical exam. The applicant and the family members must pass the medical exam to become a permanent resident of Canada. The applicant and the family members cannot have condition that is danger to the public health or safety of Canadian citizens. Also, the applicant and the family members cannot have a condition (ongoing hospitalization or institutional care for physical or mental illness) in which excessive demand on health or social services in Canada is needed.

Also, if there is change in your relationship status (e.g. marriage, common-law relationship, divorce, separation, birth of a child, death, adoption of a child) immigration Canada has to be informed. Any families that did not complete the medical exam can never become a permanent resident and can never be sponsored in the future by you.

Once you receive your assessment notice from CIC office, the immigration officer will send the medical forms for yourself and any dependent children. The medical forms will have the instructions on how to get the medical exam done, where to get it done and who is authorized to complete the medical examination. You cannot go to your own family doctor; you will get a list of doctors in your area who are allowed to complete immigration medical examinations. The results are directly sent to CIC and if anything else is needed you will be informed by CIC.

Medical exam are valid for 12 months from the date of the exam, so if decision is not rendered on your application during that time then unfortunately you may have to redo the medical exam.

Do I need to go Through Police Clearance?

Yes, police clearances is needed for you and your family members that are 18 years of age and older and must provide valid police certificate for each country other than Canada, in which you have spent six or more months since the age of 18.

Please note that all documents have to be translated in English or French. The certificate and the original copy of the translation have to be prepared by an accredited translator.

Should you or your spouse have an inadmissibility issue then most likely you would have to overcome your inadmissibility prior to applying under the Quebec Immigrant Investor Program. To overcome your inadmissibility, based on your situation you may eligible for Temporary Resident Permit or Criminal Rehabilitation.

Contact Akrami & Associates

If you like invest in the province of Quebec but not sure if you qualify under the Quebec Immigrant Investor Program then contact our office at 416-477-2545 to determine your eligibility. Akrami & Associates has assisted many clients with permanent residency applications through different immigration routes and we can certainly help you too. Contact us today for a consultation.

With Akrami & Associates there is always a way!!