In January 2024, the Quebec Immigrant Investor Program (QIIP) marked a significant return, introducing an additional pathway for obtaining Canadian permanent residence (PR). Unique in its nature, the QIIP stands as Quebec's sole passive investment immigration initiative, exempting participants from the necessity of active business management post-investment. This feature caters especially to individuals with entrepreneurial spirits who wish to settle in Quebec without engaging directly in business operations.
The QIIP unfolds in a two-step process, initially granting investors a notice of intention to select, followed by the requirement to apply for a work permit within six months. Success in this phase hinges on meeting the eligibility criteria, including the confirmation of the investment amount and financial contribution. The subsequent step involves obtaining the Certificat de sélection du Québec (CSQ), essential for progressing to the PR process at the federal level.
A noteworthy adjustment in the program's criteria is the French language proficiency requirement, mandating a minimum of level 7 on the Échelle québécoise des niveaux de compétence en français. This change aims to smooth the integration of investors into Quebec society and its economic landscape. Furthermore, both francophones and non-francophones are required to demonstrate their French language skills through the proper examination.
The residency mandate within the QIIP stipulates a 12-month stay in Quebec for foreign nationals, with specific conditions for the main applicant and their spouse or common-law partner. The unchanged prerequisites from the previous iteration of the program include a net worth of at least CAD$2 million and a minimum of two years of management experience. Financially, an essentially risk-free, five-year investment of CAD$1 million, alongside a non-refundable contribution of CAD$200,000 to a designated Quebec corporation, is required.
The QIIP not only offers a lucrative opportunity for investors aiming for PR status in Quebec but also promotes their socio-economic integration within the province. Like all PR pathways, the QIIP demands a careful evaluation of its advantages and challenges before commitment.
Pros:
The QIIP unfolds in a two-step process, initially granting investors a notice of intention to select, followed by the requirement to apply for a work permit within six months. Success in this phase hinges on meeting the eligibility criteria, including the confirmation of the investment amount and financial contribution. The subsequent step involves obtaining the Certificat de sélection du Québec (CSQ), essential for progressing to the PR process at the federal level.
A noteworthy adjustment in the program's criteria is the French language proficiency requirement, mandating a minimum of level 7 on the Échelle québécoise des niveaux de compétence en français. This change aims to smooth the integration of investors into Quebec society and its economic landscape. Furthermore, both francophones and non-francophones are required to demonstrate their French language skills through the proper examination.
The residency mandate within the QIIP stipulates a 12-month stay in Quebec for foreign nationals, with specific conditions for the main applicant and their spouse or common-law partner. The unchanged prerequisites from the previous iteration of the program include a net worth of at least CAD$2 million and a minimum of two years of management experience. Financially, an essentially risk-free, five-year investment of CAD$1 million, alongside a non-refundable contribution of CAD$200,000 to a designated Quebec corporation, is required.
The QIIP not only offers a lucrative opportunity for investors aiming for PR status in Quebec but also promotes their socio-economic integration within the province. Like all PR pathways, the QIIP demands a careful evaluation of its advantages and challenges before commitment.
Pros:
- Unique passive investment route that does not necessitate active business management.
- Facilitates the socio-economic integration of investors into Quebec.
- Clear, structured two-step process for obtaining PR.
- The French language requirement enhances the integration and participation of investors in Quebec's society and economy.
- Requires a significant financial commitment, including a CAD$1 million investment and a CAD$200,000 non-refundable contribution.
- Mandatory French language proficiency could be a barrier for non-Francophone investors.
- The 12-month residency requirement might be challenging for some investors to fulfill.
