Higher investment requirement and net-worth will likely not affect the strong demand
After months of rumors and speculations, today Quebec has released official updates to its Immigrant Investor Program in the Gazette du Quebec.
The program which is suspended until August 15th, 2018 is expected to reopen its next intake from September 10, 2018 to March 15, 2019, once confirmed via a published ministerial order on August 1st, 2018.
Although many conditions remain the same, the following has been updated:
- Increased investment requirement: CA$ 1,200,000 (up from CA$ 800,000)
- Increased net-worth requirement: CA$ 2,000,000 (up from CA$ 1,600,000)
The total quota for this intake remains at 1,900 applicants, however candidates from China are to be reduced from 70% to 65% of the total. Historically, the QCIIP has been extremely popular with Chinese applicants, however lowering the maximum allowed will give an opportunity for increased number of investors from other parts of the world to apply.
As in the past, to qualify successful applicants must:
- Show legitimately acquired personal net-worth (at least CA$2,000,000)
- Have at least two years of senior managerial experience within the past five years in a private enterprise, eligible partnership, government body or NGO
- Commit to making an interest free investment (CA$1,200,000) in a prescribed government-guaranteed investment for a period of five years
- Show an intention to settle in the province of Quebec.
Quebec’s IIP will very likely remain in extremely high-demand due to their world-class health care system, civil liberties, government transparency, economic freedom, notably high quality of life, and internationally respected, Canadian passport.
As in previous intakes, French-speaking applicants do not count against the quota and may apply at any time between September 10, 2018-March 31st, 2019.