The Quebec Immigrant Investor application is the only program currently open in Canada for international investors.
Québec Immigrant Investor Program: How does it work?
The Québec Immigrant Investor application is the only program available for international investors in Canada. Although the program’s purpose is to relocate applicants to Québec, it is not mandatory to prove French language proficiency to be eligible to apply.
It is also known as a passive investor program, as it does not require the implementation of a fully working business plan providing job vacancies in Québec. To be eligible to apply, you must meet all the following requirements:
-Minimum net worth of 2 million dollars legally acquired. Assets such properties, bank accounts, stocks and shares belonging to the principal applicant and spouse, if applicable.
-Two years of full-time experience in a business management position in one of these industries: agricultural, commercial, industrial, or in a government/international agency.
-An investment of CA$1.2 million that will be returned in full after a five-year-term.
-Meet other factors like education, English or French language, work experience, adaptability, family members living in Québec, etc.
-The first three factors must be met to apply. If one of them is not met, the application will be rejected.
The interest generated by the investment is used to pay some entities involved during the process. It also provides 0% interest loans for small businesses and creates new job positions indirectly.
How does the process work?
The only way to apply is by sending a physical application to the Direction de l’Enregistrement et de l’Évaluation Comparative, followed by the next two processes:
- Obtain the Certificat de Sélection du Québec (CSQ), mandatory for all permanent residence applications for Québec.
- Apply for the Permanent Residence on a federal level, where the applicant will have to undergo medical and background checks (police clearance certificates).
The process of obtaining permanent residence is longer than other programs, as the average time is approximately four years. The applicant will be able to live in Canada permanently only after the Permanent Residence application is approved.
The passive investment is to be completed after the application for the Certificat de Sélection du Québec (CSQ) is reviewed by the Québec government and approved in principle. If everything is in order, the applicant will be notified of how to proceed with the rest of the process and how to transfer the investment money.
The program only receives 1,900 applications a year, of which two-thirds are applications from China, Hong Kong, and Macau.