It is reported that the Quebec Immigrant Investor Program (QIIP) will resume accepting applications from September 8 to September 19, 2014. The investment amount and net worth requirements for applicants remain unchanged, maintaining an investment of CAD 800,000 and a net worth of CAD 1.6 million. The Quebec government will accept a maximum of 1,750 applications globally, with a cap of 1,200 applications per country.
The Quebec Immigrant Investor Program began in 1986 and is one of Canada's most significant investment immigration programs. Due to Quebec's unique status, the province signed an agreement with the federal government early on to independently select various types of immigrants, with business immigration selection criteria consistent with federal standards. The Quebec Immigrant Investor Program has attracted a large number of successful entrepreneurs from around the world to develop in Quebec, and the substantial capital brought by applicants provides sufficient momentum for the province's economic development. Due to the overwhelming number of applicants, the Quebec Immigrant Investor Program has frequently utilized "quotas." On March 21, 2012, Quebec announced a global quota of 2,700 spots, all of which were exhausted by April 11. Although Chinese investors secured approximately 2,400 of these spots, some investors were still left waiting for the program to reopen.
Industry insiders generally believe that with the reopening of the Quebec Immigrant Investor Program on September 8, another "instant sell-out" scenario is expected, and prospective applicants should prepare in advance. For the reopened program, the application conditions and qualification requirements will remain unchanged: a family net worth of CAD 1.6 million, an investment of CAD 800,000 (which is returned without interest after five years), or the option to use a loan from a financial institution for the investment.
Quebec Immigrant Investor Program Application Requirements
Applicants must have successfully operated, controlled, or led a business, possessing at least two years of management or business experience; have earned and accumulated a net worth of at least CAD 1.6 million through personal efforts; and have the intention to invest at least CAD 800,000 in a government-approved investment fund in Canada.
There are two investment methods: The full investment method. After a successful interview, the applicant invests CAD 800,000 with the Canadian government. The investment is guaranteed by the government and returned after five years without interest, meaning zero risk and zero interest.
The loan investment method. After a successful interview, the applicant invests CAD 220,000 with the Canadian government, and a government-designated financial institution assists with a loan of CAD 580,000. After five years, the CAD 220,000 investment is paid to the financial institution as interest on the CAD 580,000 loan. In simple terms, the applicant pays CAD 220,000 to secure permanent residency in Canada for their entire family.
