Program and when is it planning to reopen it? Read all about it here:
The Quebec Immigrant Investor Program (‘QIIP’) is an immigration pathway unique in Canada. It is the last remaining immigration program that permits applicants to qualify for immigration on the basis of making a passive investment.
The vast majority of immigration pathways that allow applicants to qualify by making an investment do so in the context of the applicant starting or acquiring an active business, and in addition to the investment the applicants are expected to actually operate and manage the business, they are investing in.
The QIIP is the exception to this:
- The investment is made into a fund operated by the Quebec government;
- The applicant is not expected to do anything besides providing those funds;
- The investment amounts required under this program are substantial in comparison with other Canadian programs.
- The investor must have a legitimately acquired net-worth of at least $2 million Canadian;
- The investor must invest $1.2 million; and
- The actual investment is often accomplished through a financing arrangement.
The net result is a 5-year interest-free loan for the province of Quebec, and the investor ultimately paying only the cost of borrowing.
The program has always been a controversial one. There was previously a federal investment pathway that closed in 2014, largely because of the controversy. The program has been criticized as:
- ‘Buying status in Canada’; and
- As financially benefiting the province of Quebec, despite the fact that immigrants under this program will frequently relocate to Ontario or B.C.
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