From September 10, Quebec Immigrant Investor Program will be reopened. This program is one of the popular ones immigrant program for permanent residence in Canada. Total number application to accepted will be 1,900 applications where a maximum of 1,330 applications will be accepted from China(Including Hong Kong and Macau) during the intake period, which will be until March 15,2019.
This program is the only provincial immigration program that allows applicant to obtain permanent residence in Quebec through a passive investment. Aforementioned sentence means that candidates are only required to make an investment in Quebec for a five year term.
There are some major criteria that will take for first time since modifications to the program’s eligibility criteria took effect on August 2 and they are as follows:
- Higher net asset and investment requirements have been raised to CAD $2 million and CAD $1.2 million respectively where previous net asset were CAD $1.6 million and investment was CAD $800,000.
- Investment must be made through financial intermediary authorised to participate in QIIP and for the duration of a five-year term.
- Investment of CAD $1.2 million is guaranteed by the Quebec government and will be returned in full after five year.
- Some other requirements includes : age should be over 18 years, should have management experience, have intention to settle in Quebec and should have obtained a passing score under Quebec’s points system.