Introduction

Exciting developments are in store for individuals aspiring to secure Canadian residency through Quebec’s Immigrant Investor Programme (QIIP), set to resume operations on January 1, 2024. After a temporary suspension in 2019, the QIIP has undergone substantial revisions. However, prospective investors must familiarize themselves with the significant changes incorporated into the program’s eligibility criteria.

Key Revisions in the QIIP (Quebec Investment Migration Program)

French Language Proficiency:
The revamped QIIP now introduces a notable language proficiency requirement. Applicants are required to demonstrate a high intermediate proficiency in spoken French, equivalent to level 7.

Residency Requirement:
An obligatory residency period in Quebec is now part of the criteria. Within two years of obtaining a work permit, the principal applicant must have lived in Quebec for a minimum of 6 months. Furthermore, either the principal applicant or their spouse/de facto spouse must have resided in Quebec for an additional period of at least 6 months.

Financial Criteria:
To qualify, applicants must possess a net worth of at least CAD $2 million (including spouse’s assets). A mandatory 5-year term risk-free investment of CAD $1 million with IQ Immigrants Investisseurs Inc. is now required within 120 days of the Minister’s request. Additionally, a non-refundable financial contribution of $200,000 must be made to this company through a financial intermediary.

Management Experience:
Investors are now mandated to have acquired a minimum of 2 years of management experience in the 5 years preceding the application submission.

Educational Qualification:
Applicants must hold a diploma obtained before the application submission date, equivalent to at least a secondary school diploma in Quebec.

Impact of the changes in the Quebec Investor Immigration program

The revised QIIP introduces more stringent criteria, emphasizing language proficiency, residency requirements, and substantial financial commitments. The potential impact of these changes on investor interest is yet to unfold, with some critics expressing reservations about Quebec’s competitiveness in the international market.

Conclusion

As the QIIP reopens its doors, prospective investors should be well-informed about the revamped criteria. While the program continues to provide a valuable pathway to Canadian residency, the heightened requirements underscore Quebec’s commitment to attracting individuals who contribute significantly to the province’s linguistic, cultural, and economic fabric. Stay tuned for insights into how these changes shape the landscape of investor immigration in Quebec.

Reach Out To Our Experts

To get more information about the Quebec Immigrant Investor Program (QIIP), feel free to contact our dedicated team of Canada immigration experts at XIPHIAS Immigration.

Initiate your application process today and take the first step towards your Canadian immigration journey.