Quebec Immigrant Investor Program

Quebec Immigrant Investor Program Overview

The Quebec Immigrant Investor Program is a passive program, which means that participants are not obligated to start or run a business in the province. Rather, the scheme demands a $1.2 million investment in a pre-determined (government-backed) venture. Applicants must intend to settle in Quebec, which is a French-speaking province.

Following health and criminality checks by Federal immigration officials, successful applicants are awarded a selection certificate from Quebec for Canada immigration, allowing them to gain permanent residency in Canada.

Requirements

Applicants must meet the following requirements:

  • $2 million legally acquired personal net worth;
  • Within the five years preceding the application, two years of acceptable managerial or business experience;
  • Investment of $1.2 million in a government-guaranteed, interest-free investment for a period of five years;
  • Plan to relocate to the province of Quebec.

 

Net Worth Acquired Legally

Applicants must demonstrate the net value of their present assets, as well as their history of fund acquisition over the course of their employment, with accompanying paperwork, in order to meet the minimum net worth criterion of $2 million. Bank statements, investor booklets, real estate appraisals, audited financial statements, and other relevant and up-to-date documentation are used to determine net worth. Candidates must declare all of their personal assets and liabilities, although they are not needed to show proof of assets worth more than $2 million. Applicants must also show that their net wealth was earned in a legal manner. This takes into account the individual’s previous earnings, enterprises, local market conditions, inheritances, and charitable contributions. While extensive proof of an applicant’s early career can be difficult to come by, clear supporting documents will make the application process go more smoothly.

 

Appropriate Management Experience

The program’s goal is to bring commercial expertise and investment to Quebec. Rather than simply managing investment operations, a qualified applicant has often owned or managed an active trade or business, which may include professional professions. Professionals who do not operate the business, passive real estate investors, and investment managers are examples of grey areas in this context. Developing real estate, for example, may qualify, although simply possessing real estate may not.

 

The applicable regulations define suitable managerial experience as:

The assumption of duties related to the planning, management, and control of financial resources and human or material resources under the investor’s authority for at least 2 years in the 5 years preceding the application for a selection certificate; the experience does not include experience acquired in the context of an apprenticeship, training, or specialization process attested by a diploma.”

 

Financing and Investment

Successful candidates must invest with Investissement Québec for a period of five years, after which the money will be returned to them without interest. The five-year period begins when the selection certificate is issued, even before the applicant has arrived in Canada. The investment’s proceeds are utilized to support a variety of commercial and social projects in Quebec.

Applicants can fund the majority of their investment through designated securities brokerage companies and investment banks under the Quebec Investor program. In most cases, a down payment is required before the bank will lend the remaining funds up to $1.2 million. The money is then deposited with Investissement Québec by the applicant. At the end of the five-year period, the down deposit is not reimbursed. The bank deducts fees and interest from the down payment, while the immigration agent deducts their commissions.

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