Immigration
Changes to Quebec’s Investor, Entrepreneur and Self-Employed Worker programs coming August 2
Candidates for Quebec’s popular Immigrant Investor Program (QIIP) will now have to meet higher net asset and investment requirements, which are rising to CAD $2 million and CAD $1.2 million, respectively. (Photo: CIC News)
Significant changes to Quebec’s Immigrant Investor, Entrepreneur and Self-Employed Worker programs are due to take effect August 2.
Among the modifications are new or higher capital investment requirements for all three programs.
Candidates for Quebec’s popular Immigrant Investor Program (QIIP) will now have to meet higher net asset and investment requirements, which are rising to CAD $2 million and CAD $1.2 million, respectively.
The previous requirements were net assets of CAD $1.6 million and an investment of CAD $800,000.
The investment must be for a five-year term with a subsidiary of Investissement Quebec and the investment agreement must be made through a financial intermediary authorized to participate in the QIIP.
The QIIP received 1,900 applications during its most recent application intake period, which took place between April 1, 2017, and March 31, 2018.
Quebec has suspended new applications to this program until August 15 as it struggles to clear a backlog of applications to all three of its business immigration programs.
A new intake period is expected to commence September 10, 2018, for 1,900 applications.
