According to statistics, in the first quarter of 2017, 7,770 Chinese individuals immigrated to Canada, an increase of 85% compared to the same period last year. Among various immigration programs, the Quebec Immigrant Investor Program (QIIP) has reopened for new applications as of May 29. This program allows overseas investors to immigrate to Canada as a family and obtain permanent resident status by investing CAD 800,000 in the province of Quebec, which will be refunded after five years.
1. Quebec Immigrant Investor Program
The application period for the Quebec Immigrant Investor Program in 2017 is from May 29, 2017, to February 23, 2018, with a global quota of 1,900, and a quota of 1,330 for Chinese investors (including Hong Kong and Macau), accounting for approximately 70% of the total 1,990 application slots.
Application requirements for the Quebec Immigrant Investor Program:
1. Possess legal net assets of over CAD 1.6 million (such as properties, bank deposits, and stocks and bonds);
2. Have at least two years of business management experience in the last five years, which is not limited to commercial enterprises and can be obtained in government and international organizations;
3. Invest CAD 800,000 through an approved financial intermediary, with the government refunding the principal without interest after five years;
4. Alternatively, invest CAD 220,000 as a one-time non-refundable payment, choosing one of the two investment options;
5. Be in good health;
6. Meet security background check requirements;
7. Have no criminal record.
Additionally, applicants need to indicate their intention to settle in Quebec on the application form. Although there is no requirement for fluency in French for the Quebec Immigrant Investor Program, applicants with intermediate French proficiency will have their applications prioritized and considered, increasing the likelihood of approval.
Application process for the Quebec Immigrant Investor Program:
1. Applicants prepare and submit documents;
2. Receive a Quebec file number;
3. Supplementary documents;
4. Waiver of interview or attend an interview;
5. Complete the investment and receive a selection certificate (CSQ) issued by the Quebec immigration authority, with documents submitted for federal immigration processing;
6. Receive a federal file number;
7. The federal immigration authority conducts a security check on the applicant and notifies the family for medical examinations;
8. The family obtains Canadian visas.
Since 2017, the processing speed for Canadian immigration visas has significantly increased, with the time from application submission to receiving Quebec approval now as fast as one year. Including the federal processing, it is expected to be fully completed within 1.5 to 2 years.
2. Advantages of the Quebec Immigrant Investor Program
The Quebec Immigrant Investor Program has been popular among Chinese investors since its inception, with key advantages including:
1. Low entry requirements, with no English language, age, or education prerequisites.
Among existing Canadian investment immigration programs, only the Quebec Immigrant Investor Program has no English requirement. Other provincial nominee immigration programs, such as the Manitoba Entrepreneur Immigration, do not have explicit English requirements, but without English proficiency, it is nearly impossible to receive an invitation. Therefore, the Quebec Immigrant Investor Program is confirmed as an investment immigration program without an English language barrier. Additionally, there are no restrictions on the applicant's age or education.
2. One application allows the entire family to immigrate to Canada.
The applicant's spouse and children under 19 years of age can be included in the application, obtaining Canadian permanent residency status and enjoying the benefits of permanent residents, including healthcare and education.
3. Zero investment risk, with the government refunding the full amount.
In the Quebec Immigrant Investor Program, the obligation of the investor is limited to making the investment, with no requirement to establish a business or engage in commercial activities in Quebec. It allows for immediate acquisition of Canadian permanent residency. Importantly, the investment is made only after passing the interview, and is guaranteed by the Canadian government, with the CAD 800,000 investment fully refunded after five years, making it a zero-risk investment immigration program.
4. No need for business operations, a convenient choice for business professionals.
Some other Canadian investment immigration programs, as well as investment immigration programs in countries like the United States, require applicants to have business operations or job creation. However, the Quebec Immigrant Investor Program does not require applicants to write a business plan, nor do they need to engage in business or entrepreneurship before or after landing, making it the best investment immigration choice for overseas business professionals.
The Quebec Immigrant Investor Program can be seen as a shortcut to immigrating to Canada. As long as one has CAD 1.6 million in assets and two years of management experience, they can apply. After obtaining the Canadian permanent resident card, they can enjoy the same healthcare, education, and social welfare as local residents. Once successfully landed in Canada, they can choose to reside in any city and enjoy local benefits.
