The province of Quebec has always held a unique place in Canada. As the sole French-speaking province, it is unique in ways that other provinces are not. In terms of immigration, there has always been a unique system in place where both the federal government, and the province operated investment programs for immigrants. That has now changed, though. If you are a person of high net worth that is wondering how to immigrate to Quebec, then the Quebec Investor Program could be the solution for you.
What is the Quebec Investor Program (QIP)?
As of June 2014, the QIP is the only option for business people of high net worth to settle here on the basis of passive investment. This program was put in place to give people the necessary means an option of settling here permanently under the promise of supporting the local economy through heavy investing. It is a passive program, which means that you do not have to actively open a business or run anything on your own, you only need to invest money in order to qualify. If you do fit the criteria, then you are free to apply for residency.
What are the criteria?
Relatively speaking, the criteria are not that strict if you do happen to have the necessary funds. Since you represent a valuable asset to the province and have a lot to offer, Quebec will be willing to take you in without many of the hurdles that others would have to get over. The criteria for the QIP are as follows:
- Have a net worth of at least $1.6 million CAD.
- Have at least two years of business experience in the prior 5 years preceding the application.
- You must commit to making an investment of $800,000 CAD into a passive government guaranteed program for a period of five years bearing no interest.
- Commit to settling in Quebec.
If you are accepted by the program you will be able to obtain Canadian permanent residency following a health and background check. The intention of this program is to attract valuable business experience, acumen, and resources into the province, so you must commit to helping the local economy, and using your funds to support the province.
What else should you know?
The government of Quebec advises people that a maximum of 1,750 applications will be accepted between August 31st, 2015 and January 31st, 2016. You must apply within this frame to be considered. Should more than that apply, a random drawing will determine which ones are processed. Also, if you speak French at an intermediate level or higher, you are not subject to cap or application times. It is also important to remember that you will have to commit to investing in Quebec for a period of five years, and after that, your money will be returned without interest.
Canada is one of the world’s most advanced, peaceful, and prosperous nations. Therefore we are one of the most popular nations for immigrants from around the world. While it isn’t possible for us to take in everyone, it is important to know that there are programs sponsored by both provincial and federal governments to help qualified applicants settle here successfully. There are many ways how to immigrate to Canada, and the Quebec Investor Program is designed to help individuals of high net worth settle in their new home.