The Quebec Immigrant Investor Program (QIIP) is set to re-open in the third quarter of 2018 with an increased investment threshold and higher net worth requirement.
The new program details were revealed in the latest regulation pre-publication and will feature an investment requirement of $1.2 million, up from $800,000. The qualifying net worth amount will increase to $2 million, up from $1.6 million.
Quebec has not changed the investment requirements in nearly 20 years. In past years, it accepted 1,900 investor applications annually, representing 5,000 high net worth individuals and their families to Canada each year.
Created in 1986, the Quebec Investor program is the largest and most popular Canada business and investment immigration program. Since the federal government terminated its version in 2014, the Quebec program has dominated the Canada business immigration landscape, while admitting more business immigrants than all the provincial nomination programs combined. It has accounted for $1 billion in direct investment to the province since its inception.
It remains the only purely passive investment option in the Canada business and investment immigration sector. In fact, it ranks second in popularity and capacity intake in North America, after the USA EB-5 program.
The program has traditionally been dominated by high net worth investors mainly from China/Macau and the middle east. This is expected to continue.
Stakeholders anticipate Quebec immigration authorities will finalize the new investment requirements by Ministerial order in the months ahead. Finally, it will announce the period of application intake and the 2018/2019 annual quota levels, sometime during Q3 2018.
QIIP: Primary Requirements
- Legally acquired personal net worth of $2 million;
- Two years of suitable management or business experience within the five years preceding the application;
- Investment of $1.2 million into a passive government guaranteed investment for a period of five years bearing no interest;
- Intend to settle in the province of Quebec.
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