The Quebec Immigrant Investor Program is now open for the new applicants willing to come and settle in the province.
A total of 1,900 applications will be taken in this program till March 15, 2019. The Quebec Program will invite maximum of 1235 applications from China (including Hong Kong and Macau).
This program is the only provincial stream that allows applicants to obtain permanent residence through a passive investment. Also, an applicant is only required to make investment in Quebec for a five-year term.
However, the program’s eligibility criteria has been revised, effective August 2, 2018.
The changes has been made with the net assets and investment requirements, from CAD $1.6 million to CAD $2 million net assets requirements. Meanwhile, investment requirements has also been increased from CAD $800,000 to CAD $1.2 million.
The investment is done for a five-year term and the investment agreement must be made through a financial intermediary authorized to participate in the Quebec Immigrant Investment Program (QIIP).
The investment of CAD $1.2 million is guaranteed by the Quebec government that will be returned to the applicants after 5 years.
Along with the basic investment criteria, an applicant is also required to score a passing score on Quebec’s point system.