The Quebec Immigrant Investor Program is Canada’s exclusive immigration program dedicated only to foreign investors. The program’s objective is to make it simpler for investors to enter the country.
The Quebec Immigrant Investor Program does not require investors to be fluent in French, even though Quebec is primarily a French-speaking province. Proficiency of the language, on the other hand, may be taken into account when deciding who to choose. For international investors to sign up and invest in the Quebec Immigrant Investor Program for Canadian permanent residency, they must have net assets of at least CAD$2 Million.
What are the benefits of the Quebec Immigrant Investor Program?
The Quebec Immigrant Investor Program comes with a slew of additional benefits. Most foreign business investor immigration programs ask an individual to generate a particular number of jobs within a given amount of time. There is no such criterion under the Quebec Immigrant Investor Program.
Furthermore, the Quebec Immigrant Investor Program grants Canadian permanent residency promptly upon arrival, eliminating the requirement for temporary status. Permanent residency in Canada can be granted to the applicant’s immediate family members, with all the benefits that it brings, like universal health care and availability of top-notch education by adding them to the application.
To be considered for the Investor Program, you must meet the following requirements:
- Plan to reside in Québec
- Have at least two years of managerial experience in the five years leading up to the application for selection. Duties relevant to the planning, managing and controlling financial, human, or material resources under your charge must be covered in this experience. This excludes any experience gained through an apprenticeship, training, or specialty that leads to a diploma.
- Sign a contract with a financial intermediary allowed to take part in the Investor Program
- Invest $1,200,000 over five years with Investissement Québec – Immigrants Investisseurs Inc.
- Get a certification of learning about democratic ideals and Québec values by the specified time. The attestation is also required for your family members accompanying you (spouse and dependent children aged 18 or older).
- Having lawfully obtained net assets of at least C$2,000,000, alone or with your accompanying spouse or de facto spouse, deducting any sums obtained by donation less than six months before the submission of your application
Approved candidates must invest with Investissement Québec for five years, after which the money will be refunded to them without interest. Applicants can fund most of their investment through approved securities brokerage companies and investment banks under the Quebec Investor program. In most cases, a down payment is required before the bank can lend the remaining funds up to $1.2 million. The money is then deposited with Investissement Québec by the applicant.
The five-year term begins when the selection certificate is issued, even before the applicant has arrived in Canada. The investment’s proceeds are utilized to support a variety of economic and social activities in Quebec. The down money is not refunded at the conclusion of the five-year term. The bank deducts fees and interest from the down payment, while the immigration agent deducts their commissions. The down payment is the investor’s net cost.
What are additional immigration possibilities there for investors in Canada?
The Quebec Immigrant Investor Program is the only immigration program in Canada established especially for international investors. The Canadian Immigrant Investor Program was terminated in 2014, which the federal government handled in past years.
There are a variety of Canadian immigration possibilities for overseas investors with entrepreneurial expertise. One alternative for immigrant entrepreneurs whose company ideas are picked up by authorized organizations in Canada is the government Start-up Visa Program. Several provinces, notably the major immigrant destinations of Quebec, Ontario, and British Columbia, also have entrepreneurial immigration programs.