{"id":9863,"date":"2018-02-08T15:56:03","date_gmt":"2018-02-08T15:56:03","guid":{"rendered":"https:\/\/www.investmentimmigration.com\/?p=9863"},"modified":"2018-02-08T15:56:03","modified_gmt":"2018-02-08T15:56:03","slug":"ottawa-can-stop-quebec-immigrant-investors-moving-vancouver-toronto","status":"publish","type":"post","link":"https:\/\/www.investmentimmigration.com\/ottawa-can-stop-quebec-immigrant-investors-moving-vancouver-toronto\/","title":{"rendered":"Ottawa Can Stop Quebec Immigrant Investors Moving to Vancouver and Toronto: Here is How"},"content":{"rendered":"

Vancouver and Toronto are receiving thousands of wealthy candidates who arrive in Canada via the\u00a0Quebec Immigrant Investor Program<\/a>\u00a0(QIIP).<\/p>\n

\"Ottawa<\/p>\n

These high net worth individuals are using the QIIP as a back door to Canada\u2019s two most popular cities, and are being blamed for driving up the housing markets in both major metropolitan areas.<\/p>\n

Both have introduced foreign buyer taxes to combat the out of control housing prices \u2013 Vancouver in particular is considered one of the fastest growing markets in the world.<\/p>\n

But wealthy immigrants are still finding ways around the tax, meaning that while the measures have worked to a certain extent, their impact is limited.<\/p>\n

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Read More<\/b><\/p>\n

Ottawa Under Fire as Wealthy Quebec Immigrant Investors Settle in BC and Ontario (Audio)<\/a>
\nEconomic Benefits of the Quebec Immigrant Investor Program (QIIP)<\/a>
\nQuebec Immigrant Investor Program A Stable Alternative to US EB-5 (Audio)<\/a>
\nQuebec Immigrant Investor Program (QIIP) Among World\u2019s Most Popular (Audio)<\/a><\/p>\n

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Under the QIIP, candidates with a net worth of $1.6 million or more invest $800,000 in Quebec for five years. After the investment period, the money is returned without interest, which is where the Quebec economy benefits.<\/p>\n

But Vancouver and Toronto argue that while the French-speaking province benefits from the investment dollars, British Columbia and Ontario must meet costs of providing health care, schooling and other publicly-funded services.<\/p>\n

This is because freedom of movement is a central right of a permanent resident under the Canadian constitution. While QIIP applications must declare their intention to live in Quebec if they are successful, in reality there is nothing to stop them moving anywhere in Canada once PR status is secured.<\/p>\n

Recent reports suggest nearly 50,000 out of 60,000 candidates who were living in Canada in 2016 having arrived via the QIIP were residents of Vancouver or Toronto.<\/p>\n

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QIIP: Primary Requirements<\/h3>\n