On March 21, the Quebec Immigration Bureau announced that from 19:00 on March 21, 2012 (Quebec time) to 19:00 on March 31, 2013 (Quebec time), Quebec will adopt the same annual application quota system as the federal government. The specific quotas are: 2,700 for the Immigrant Investor Program and 14,300 for the Skilled Worker Program.
Compared to the 5,599 applications received during the same period last year, the quota has decreased significantly. It is expected that Quebec may reach its limit and close by the end of April. While no reopening date has been set, it is certain that requirements will be much stricter upon reopening. There are two possibilities: first, the cancellation of the investor category in favor of an entrepreneur category requiring business startup; or, a significant increase in current net worth and investment requirements, likely at least doubling them.
Canada's investment immigration policies have been tightening in recent years, and this Quebec quota policy is another prime example. The introduction of this policy will lead more Chinese investors to turn their attention to the U.S. EB-5 investment program. The U.S. EB-5 program requires selecting a U.S. project, investing $500,000, and receiving a return of capital after five years. However, as the U.S. EB-5 policy is set to expire on September 30, 2012, the most likely outcome after expiration is a price increase. Whether choosing Canada or the United States for investment immigration, time is of the essence for the vast number of Chinese investors.
