The Quebec Immigrant Investor Program (QIIP) is one of the most straightforward ways for an immigrant to become a permanent resident in Canada. The program requires the applicant to demonstrate a certain level of income and assets but also gives back by allowing the applicant to fast-track their permanent residence application.
If you meet these criteria, there is good news — it’s possible to get your Canadian permanent residence through this program. This article covers everything you need to know about immigrating as a Quebec investor.
What Is The Quebec Investor Program?
The quebec immigrant investor program is a fast track to obtaining Canadian permanent residence. It is an investment program that invites foreign investors to make a one-time, passive investment of CAD 1.2 million to receive permanent residence for themselves and their spouses.
Investors may also include their children’s names on the application form if they are under 25 years of age, unmarried, and live with their parents. If you qualify as an investor, your spouse and any dependent children under the age of 25 may be included on the application, as long as they live with you and provide proof of this residency when applying.
Requirements To Become A Permanent Resident
To qualify for the Quebec Immigrant Investor Program, an applicant must:
- Meet a minimum level income threshold;
- Have a net worth of at least CAD 2 million, including assets like stocks, bonds, and real estate;
- Invest CAD 1.2 million in a passive government-approved investment
- without taking any day-to-day involvement in the company; and
- Be willing to live anywhere in Quebec.
The Application Process For QIIP
The application process for the Quebec Immigrant Investor Program is relatively simple. The applicant must demonstrate a certain level of income and assets, but also provides a fast track to Canadian permanent residence.
The applicant must first meet eligibility criteria. Once they do that, they can apply by submitting an application package to the Quebec government. To be eligible, the applicant needs to demonstrate that they have at least $1.6 million in assets and a net worth of at least $2 million (both averaged over two years).
They also need to submit proof that they have invested $800,000 of their own money in an approved investment. After applying, it takes approximately 12 months before the applicant can submit their permanent residence application.
Final Words: Should You Participate In The QIIP?
The Quebec program is a great option for those who want to become a permanent residents of Canada. If you have the means and are interested, there’s no reason not to apply. However, before enrolling in this program, it’s important to consider your motivations.
You’ve got plenty of other options for immigration — why choose the QIIP? With so many different programs available, it’s worth exploring the benefits and drawbacks of each to find out which one will suit your needs best. As long as you stay informed about the various opportunities available, you should be able to make an informed decision about which path is right for you.