Originally introduced in 1986, the Quebec Immigrant Investor Program (QIIP) has been Canada’s most popular business immigration program for almost 40 years. It targets experienced investors with significant assets and personal net worth who wish to invest in the province of Quebec.

Quebec Investor Program Requirements

To apply for the Quebec Investor Program, the applicant must:

• Investment Agreement: Enter into an Investment Agreement with an authorized financial intermediary.
• Management Experience: Have at least two years of management experience within the five years preceding the application.
• Net Worth: Have a net worth of at least CAD$2,000,000 and be able to demonstrate its lawful origin and accumulation.
• Education: Hold a diploma corresponding minimally to a secondary (high school) diploma. (Check the Level of Study in Quebec)
• French Proficiency: Have knowledge of spoken French corresponding minimally to level 7 according to the Échelle québécoise des niveaux de compétence en français.
• Values Attestation: Obtain an attestation of learning about democratic values and Quebec values (this can be obtained through an online assessment after submission).

About the Process

1. Approval from MIFI: After receiving approval from the MIFI, the applicant needs to make a five-year term investment of CAD$1,000,000.
2. Fee: In addition to the investment, the applicant must also pay a financial contribution of CAD$200,000.
3. Notice of Intent to Select: After meeting the requirements, the MIFI will issue a notice of intent to select, making the applicant and their dependents eligible to apply for a work permit from the Government of Canada.
4. Additional Factors: Applications consider factors such as age, language proficiency, and training background.

The QIIP accepts applications only during pre-determined intake periods and has a limit on the number of applications it will accept in a given period.

Benefits of the QIIP

The QIIP is unique among Canadian business immigration programs as it allows a businessperson to obtain status solely by making an investment. Other programs require starting or purchasing a business and being actively involved in its management.

Application Submission and Quota

• Open Since January 1, 2024: The QIIP is open indefinitely.
• No Quota for 2024: There is no limit on the number of applications for 2024.

Government Processing Fees

• Fee: The government application fee is CAD$17,380, covering the entire family.

Dependent Family Members

• Eligibility: The principal applicant can include their spouse and all unmarried children under the age of 22. Children over 22 can be included if they depend financially on their parents due to a mental or physical condition.

Net Worth Requirement

1. Assets Included: Monies in checking and savings accounts, term deposits, financial instruments, life insurance policies, pension funds, cryptocurrency, stocks, bonds, business equity, and real estate.
2. Spouse’s Assets: The assets and liabilities of your spouse should be included in your net worth calculation.
3. Inheritance and Donations: Inherited assets can be included. Donations received within six months before the application submission cannot be included.

Required Investment

1. Financial Intermediaries: Authorized institutions under the Trust Companies and Savings Company Act or registered investment dealers.
2. Guaranteed Investment: The CAD$1,000,000 investment is fully guaranteed by the Government of Quebec and reimbursed without interest after five years.
3. Financing: Authorized financial intermediaries can arrange financing for the investment, costing around CAD$350,000.

French Language Requirement

1. Level of French: Ability to communicate orally in French, corresponding minimally to level 7 on the Échelle québécoise des niveaux de compétence en français.
2. Family Members: Only the principal applicant must meet the French requirement.
3. Demonstrating Proficiency: Through test results or diplomas accepted by the Ministère de l’Immigration, de la Francisation et de l’Intégration (MIFI).

Residency Requirements

1. Work Permits: Within the first two years, the principal applicant or spouse must stay in Quebec for at least 12 months.
2. Permanent Residence: To maintain PR status, the applicant must be in Canada for at least 730 days during the last five years.
3. Canadian Citizenship: Permanent residents must be physically present in Canada for at least 1,095 days during the five years before applying for citizenship.

Questions and Answers

• Financial Intermediaries: Institutions authorized under the Trust Companies and Savings Company Act or registered investment dealers.
• Guaranteed Investment: The CAD$1,000,000 investment is guaranteed by the Government of Quebec.
• French Language: Knowledge of spoken French corresponding to level 7 on the Échelle québécoise des niveaux de compétence en français.
• Residency Requirement: Stay in Quebec for at least 12 months within the first two years of receiving work permits.