The Quebec Immigrant Investor Program (QIIP) recommenced operations on January 1, 2024. It offers a pathway to Canadian permanent residence for investors willing to commit CAD 1.2 million through an approved financial intermediary or by financing the investment, with zero financial risk. Since its inception in 2014, the QIIP stands as the sole passive investor immigration initiative available in Canada. This resource furnishes a comprehensive overview of the QIIP.

Program Overview

Prospective candidates for the Quebec Immigrant Investor Program undergo assessment based on six criteria outlined in the Quebec Economic Class selection grid. A minimum threshold of 40 points is mandated, with compulsory benchmarks of 10 points for management experience and 25 points for financial investment.

Evaluation of Quebec Immigrant Investor Program applicants encompasses factors such as educational background, managerial experience, age, language proficiency in French or English, ties to Quebec, and adherence to the Investment Agreement. The highest attainable score is 94 points, applicable to applicants with or without a spouse or common-law partner.

Candidates who fulfill the stipulated minimums for management experience and financial investment need only garner an additional five points to achieve the requisite passing score. This can be accomplished by meeting any one of the following example criteria:

  • Possession of a post-secondary technical diploma indicating one OR two years of full-time study (valued at 6 points)
  • Completion of an undergraduate university degree encompassing two years of full-time study (valued at 6 points)

Quebec Immigrant Investor Program applicants may be subject to a selection interview subsequent to the evaluation of their application.

QIIP Criteria

As of January 1st, 2024, all candidates for the Quebec Immigrant Investor Program (QIIP) are required to satisfy the specific criteria outlined below:

  1. Minimum Net Worth:
  • Requirement: A minimum net worth of CAD $2,000,000, acquired legally either individually or jointly with their spouse or common-law partner, if accompanying the applicant. This net worth may include various assets such as real estate, bank accounts, pension funds, stocks, and shares.
  1. Business or Management Experience:
  • Requirement: Candidates must possess a minimum of two years of managerial experience within the past five years preceding the submission of their application. This experience should have been gained in a specific enterprise (agricultural, commercial, industrial), or within a government or international agency, in a full-time capacity. Profitability of the company is not a prerequisite. If the experience is claimed as professional, the company must have at least two full-time employees, excluding the candidate.
  • Retired Candidates: Retired individuals can apply provided they can demonstrate recent managerial experience of two years within the preceding five years. The candidate should be capable of demonstrating the planning, supervision, and control of financial resources AND human or material resources under their authority. Experience gained through apprenticeships, training, or specialization processes confirmed by a diploma is not considered.
  1. Investment:
  • Requirement: Candidates must commit to a refundable, five-year term, risk-free investment totaling $1,000,000 CAD through IQ Immigrants Investisseurs Inc. Additionally, a non-refundable financial contribution of $200,000 CAD to this company is mandated within 120 days of the immigration acceptance discussion. These investments do not accrue interest.
  1. Language Proficiency:
  • Requirement: Primary applicants must demonstrate oral French proficiency equivalent to level 7 on the Quebec scale of French proficiency, encompassing speaking and listening skills.
  1. Education:
  • Requirement: Primary applicants must hold a diploma obtained before the submission date of their application, at least equivalent to a Quebec secondary school diploma.
  1. Work Permit and Physical Presence Requirements:
  • Upon approval of their application, successful candidates will receive a work permit from Ministère de l’Immigration, de la Francisation et de l’Intégration (MIFI). Subsequently, within two years of receiving the work permit, the principal applicant (and their spouse/common-law partner) must have resided in Quebec for a minimum of six months within that timeframe.

The Comprehensive Process of Canadian Immigration through the QIIP

The journey toward Canadian immigration through the Quebec Immigrant Investor Program (QIIP) involves a series of meticulous steps aimed at thorough evaluation and verification. Here’s an in-depth look at each stage:

  1. Initial Submission to Quebec Immigration Authorities:
  • Applicants submit their complete applications to Quebec immigration authorities. Upon provincial approval, applications proceed to Canadian immigration authorities for federal processing.
  1. Document Requirements:
  • Applications must include:
    • Correctly completed and signed application forms.
    • Identity and civil status documents.
    • Proof of net worth.
    • Documents verifying educational qualifications.
    • Evidence of business experience and qualifications.
    • Police clearance certificates.
  1. Application Processing:
  • Incomplete applications are returned to applicants. Complete applications are queued for processing, and applicants receive an Acknowledgement of Receipt.
  1. Assessment by Quebec Immigration Visa Officer:
  • A Quebec Immigration Visa Officer meticulously evaluates the application to ensure compliance with net worth requirements and legality of acquisition. Business experience and other qualifications are also scrutinized.
  1. Interview Stage:
  • If the application meets Quebec’s immigration standards under the Investor category, the applicant is summoned for an interview with an Immigration Officer. Updated forms and documents, along with any additional supporting documents, must be submitted within ten business days of the interview appointment. Original documents previously submitted as copies are also required. In some instances, interviews may be waived.
  1. Funds Transfer and CSQ Issuance:
  • Upon a successful interview (or interview waiver notice), instructions are provided for transferring the required funds to Quebec immigration authorities. The Quebec Selection Certificate (CSQ) is issued upon receipt of the wire transfer.
  1. Submission to Federal Authorities:
  • Within one year of CSQ issuance, applicants must submit their applications to federal authorities. Required documents include the CSQ, identity and civil status documents, police clearance certificates, and federal processing fees. Incomplete applications are returned.
  1. Medical Examination and Visa Issuance:
  • The Canadian Immigration Visa Office assesses the application and forwards medical instructions. Applicants and accompanying family members undergo medical examinations by approved doctors. Upon receipt of medical results, the Canadian Immigration Visa Office requests payment of the Right of Permanent Resident Fee (RPRF) and passports for issuing Canada Immigration (Permanent Resident) Visas.
  • The visa has an expiry date, by which applicants and their families must enter Canada, or “land.”
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