Effective December 1, 2010, the Quebec Immigrant Investor Program (QIIP) implemented a new policy. The new regulations require applicants to have a net worth of CAD 1.6 million and make an investment of CAD 800,000.
The highly anticipated Canadian immigration policy was finalized in early December. The new policy doubles the requirements for both family net worth and investment amounts compared to the previous standards. According to reports from the Canadian newspaper Ming Pao, under the new regulations, the asset requirement for federal and Quebec immigrant investors has increased from the original CAD 800,000 to CAD 1.6 million, the investment amount has risen from CAD 400,000 to CAD 800,000, and the financing option has increased from the original CAD 120,000 to CAD 220,000.
Worldway immigration experts analyze that although the net worth and investment requirements for the Quebec Immigrant Investor Program have significantly increased compared to the old policy, the program still has no requirements for language proficiency or academic qualifications. Furthermore, Quebec offers a favorable economic and investment environment among Canadian provinces. With the number of applicants expected to decrease following the price hike, it remains an excellent choice for high-quality immigrants looking to invest and immigrate to Canada.
New Policy Approval Speeds Up: Worldway Client Receives Quebec Interview Notice in Just 40 Days (2011-02-09)
In December 2010, Canada announced the implementation of the new immigrant investor policy. The processing speed under the new policy era has been a subject of keen interest for domestic immigrant investors. Recently, good news arrived from Quebec: a Worldway client received an interview notice for late March of this year.
The client submitted their application on December 16, 2010, and Worldway immediately established a dedicated project service team to actively track and facilitate the process. To our great surprise, on January 26, 2011, the client received an interview notice from the Quebec Immigration Bureau (BIQ), with the interview scheduled for late March 2011. Achieving this result in less than a month and a half from the date of submission represents a significant acceleration compared to the era of the old policy. Upon receiving this news, the client was thrilled and personally called Worldway staff to express sincere gratitude for the assistance and services provided by our firm.
The new Canadian immigrant investor policy, which took effect on December 1, 2010, doubled the requirements for net worth and investment. While this may appear to have raised the threshold for applicants, Worldway immigration experts, through an in-depth analysis of the new law, discovered that the new policy simplifies the application process and will significantly shorten approval times, which is undoubtedly excellent news for those wishing to immigrate to Canada.
Before the official implementation of the new policy, the Canadian government announced that when the immigration office reviews application cases under both the old and new policies, it must process one new policy application for every two old policy applications, meaning a 2:1 processing ratio. This once again confirms the judgment of Worldway's senior professional consultants and has brought them great confidence and motivation.
According to figures released by the Canadian government, there is a backlog of over 20,000 old cases pending with the immigration office, while the government can only process about 1,000 cases per year. In stark contrast, the new immigration law only began implementation in December, and as it has just started receiving new cases, this means there is currently no backlog for new cases at the immigration office; the backlog figure is zero.
The fact that this Worldway client under the new policy received a Quebec interview notice in less than a month and a half undoubtedly provides a "reassurance" to the many who were skeptical or hesitant about the processing speed of the new policy. Worldway Immigration Agency reminds those who wish to immigrate to Canada: seize the opportunity and act quickly! Board the express train of the new policy, enjoy the professional and swift services of Worldway, and quickly realize your magnificent dream of immigrating to Canada.
