Canada might restart its Quebec Immigrant Investor Program
The Quebec Immigrant Investor Program (QIIP) will most probably be open for new application after 1 August 2013. If this happens the Canadian Government will accept a limited number of applications before closing the program again so if anyone is interested in applying it should use the opportunity now.
Last time when the program was opened – March 2012, the Quebecois Government announced that it will accept around 2700 applications and will close the program. The required number of applications was received in just a month.
In order to qualify for the program, prospective immigrants must have net assets of at least 1 600 000 Canadian Dollars, which must be lawfully acquired. Any donations that are made to the candidate in the last six months before the commencing of the program will be discounted. They must also have worked in management for at least two years in the last five years in one of the following fields:
A government, a government department or agency
In addition to that, all applicants must invest 800 000 Canadian dollars for a minimum of five years. The investment must happen through a financial investment approved by Quebec’s immigration authority, La Ministère d’Immigration et des Communautés Culturelles and its investment regulator Investissement Quebec.
All applicants are required to sign a declaration that they intend to settle in Quebec and may not reside in other parts of Canada. Indeed, Canadian Immigration Minister Jason Kenney told the press in March 2013 that successful applicants under the QIIP who settle in Toronto or Vancouver are committing fraud.
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