đ Background:
Established back in 1985, the Quebec Immigrant Investor Program (QIIP), more popularly known as the Quebec Investor Program, stands out as Canada's ONLY passive investor immigration opportunity.
In the realm of business immigration, Quebec aims to attract high-income individuals who can not only bring their financial prowess but also contribute to job creation and bolster the economy. Investor immigrants applying for the QIIP gain the opportunity to secure permanent residence in exchange for an interest-free loan of $1 million to the province. The best part? This loan is guaranteed to be repaid in full within five years, and there is NO expectation for candidates to manage a business themselves.
Now, let's delve into the key requirements for aspiring QIIP candidates:
đ Two years of full-time management experience in specific industries such as agriculture, commerce, industry, or in a government or international agency is a must. The good news is that the profitability of the company where this experience was gained is not a determining factor. đ°
Here's the game-changer: Unlike other business and entrepreneur programs in Canada that necessitate active business management, QIIP offers a passive approach for investor immigrants. This means you can invest and not start or manage an active business.
The full regulations are set to be published on November 8, 2023, with more in-depth information. Here is a sneak peek at what to expect from the updated Quebec Immigrant Investor Program (QIIP):
đ Quebec Immigrant Investor Program (QIIP) Details:
Unchanged Criteria:
đ° Have a net worth of at least C$2 million (including your spouse's assets).
đ Acquire at least 2 years of management experience within the 5 years preceding your application submission.
Modified/New Criteria:
đŁ Demonstrate a minimum proficiency in spoken French, equivalent to level 7 on the Ăchelle quĂŠbĂŠcoise des niveaux de compĂŠtence en français des personnes immigrantes adultes.
đ Possess a diploma obtained before the application submission date, equivalent to at least a secondary school diploma in Quebec.
đ Have been issued a work permit following the Ministère de lâImmigration, de la Francisation et de l'IntĂŠgration (MIFIâs) notice of intent to issue a selection certificate (PCSQ).
đĄ Within 2 years of work permit issuance, the principal applicant must have resided in Quebec for at least 6 months, with the spouse or de facto spouse included in the application also residing in Quebec for another period of at least 6 months.
đľ Make a 5-year term risk-free investment, at 0% interest, of C$1 million with IQ Immigrants Investisseurs Inc. Additionally, a non-refundable financial contribution of $200,000 to this company through a registered financial intermediary is required, all within 120 days of the acceptance decision.
Stay tuned for the official regulations on November 8, 2023, and get ready to embark on your journey toward Canadian permanent residence through the rejuvenated QIIP! đđ
For more Canadian immigration tips and updates, stay tuned to our blog or our social media channels (LinkedIn, Facebook, Instagram, Twitter or Pinterest). đ Contact us today if you are interested in working with us to help you fulfill your Canadian dream!
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