As of August 31, 2015, the Quebec Immigrant Investor Program (QIIP) will reopen and interested investors will have until January 29, 2016 to submit their applications. The QIIP is designed to help those looking to reside in Quebec and apply for Permanent Residence in Canada expedite an immigration visa.
Only 1750 qualified investors will be accepted and, as such, seeking the aid of an immigration lawyer in Canada to help prepare your file and ensure each requirement is met is an integral part of the process. Some principle requirements of the program include:
- Applicants must have at least CAD$1.6 Million (or equivalent) in total net assets. This net worth can combine the assets of a spouse and may include donations and gifts if they are received at least six months prior to submitting the application.
- Applicants must pass a medical, criminal and security background check.
- Applicants must intend to reside in the province of Quebec and invest CAD$800,000 with an authorized financial intermediary (financing options are available).
- Applicants must have at least two years of managerial experience in the five years preceding your application. This experience must have occurred either in a legal business (agricultural, industrial or commercial) within a government or international organization or in a legal professional business (i.e. medical practice, law firm, etc.). Duties within these companies must have encompassed planning, management and control of financial, human or material resources; or the management of five full time employees for two years.
- Applicants who have an intermediate level of spoken French, as proven by a standardized test, are exempt from the program cap and are eligible for priority processing. French-speaking applicants may apply any time before March 31, 2016.
In addition to the requirements above, the visa officer processing your application may request further documentation pertaining to your income. Consulting an immigration lawyer in Canada throughout the application process can help guide you through obtaining any and all additional requests.
The program, which was initiated in 1986 by the Quebec Government, is similar to the Immigrant Investor Venture Capital (IIVC) Pilot Program and presents a win-win situation; Quebec is able to boost their economy by attracting successful business immigrants and accepted applicants are able to receive all the opportunities associated with an immigrant visa.
For more information on the QIIP, contact an immigration lawyer in Canada today. Preparing an application can be a lengthy process and this year only completed applications are to be considered; in order to get your file ready in time it’s imperative to consult an immigration lawyer without delay.