Quebec Investor Program – QIIP

Originally introduced in 1986, the Quebec Immigrant Investor Program (QIIP) has been Canada’s most popular business immigration program for almost 40 years.

Quebec Investor Program Overview

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The QIIP is for experienced investors who have significant assets and personal net worth that they wish to invest in the province of Quebec.

Quebec Investor Program Requirements

To apply to the Quebec Investor Program, the applicant must:

  1. Have entered into an Investment Agreement with an authorized financial intermediary;
  2. Have at least two years of management experience, acquired within the five years preceding the submission of the application
  3. Have a net worth of at least CAD$2,000,000, and be able to demonstrate its lawful origin and accumulation.
  4. Hold a diploma corresponding minimally, in Quebec, to a secondary (high school) diploma.
  5. Have a knowledge of spoken French corresponding minimally to level 7 according to the Échelle québécoise des niveaux de compétence en français
  6. Obtain an attestation of learning about democratic values and Quebec values (this can be obtained through online assessment after submission).

About the Process

After receiving the approval from the MIFI, the applicant needs to make a five-year term investment of CAD$1,000,000. In addition to the investment, the applicant must also pay a fee (financial contribution) of CAD$200,000.

After having met the above requirements, the MIFI will issue the applicant a notice of intent to select, and with the support of this notice, the applicant and his dependent family will be eligible to apply for a work permit from the Government of Canada.

Applications will take into account other factors as well, including age, language proficiency, and training background.

The Quebec Investor Program has a limit on the number of applications it will accept in a given period. As well, the program only accepts applications during pre-determined application intake periods.

Quebec Immigrant Investor Program – FAQ

What are the benefits of the QIIP compared to other Canadian business immigration programs?

The QIIP is the only immigration program in Canada, where a businessperson can obtain status by virtue of an investment. All of the other business immigration programs require the applicant to start up or purchase a business, and to be actively involved in its management and operations.

 

When can someone submit an application for the QIIP?

The QIIP is open since January 1, 2024, and will remain open indefinitely.  

Is there a quota or cap on the number of QIIP applications for 2024?

No there is not.  

What are the Government processing fees for the QIIP?

The Government application fee of the MIFI is $17,380, and this single fee covers the entire family.

Under the QIIP, which family members can be included as dependents?

The principal applicant can include his/her spouse, and all unmarried children under the age of 22 years old. Children over the age of 22 may be included if they have depended on their parents for financial support since before they were 22 and can’t financially support themselves because of a mental or physical condition.

Questions about the Net Worth Requirement

  1. For my QIIP application, what assets can be counted towards my net worth?
    You can include the value of any monies held in checking and savings accounts, term deposits and other short and long term financial instruments, life insurance policies, pension funds, cryptocurrency, as well as any stocks or bonds, or other types of investments. In addition, you can include the value of the equity you own in any private or publicly-traded businesses, as well as the value of any real estate you own.
  2. For my QIIP application, can I include the value of my spouse’s assets towards my net worth?
    Yes, the assets and liabilities of your spouse should be included in your total net worth calculation.
  3. For my QIIP application, can I include donations or inheritance that I have received towards the calculation of my net worth?
    In the case of any assets you have inherited, you can include the value of these assets in the net worth calculation, without any restriction.
    In the case of donations or gifts you have received, any gifts you have received in the six months before submitting your application can’t be included in the calculation of the minimum CAD$2,000,000 net worth requirement.
  4. For my QIIP application, can I include donations I have received towards the calculation of my net worth?
    Yes you can, but any donations you have received in the six months before submitting your application can’t be included in the calculation of the minimum CAD$2,000,000 net worth requirement. 

Questions about the Required Investment

  1. Who are the financial intermediaries for the QIIP?
    Financial intermediaries are institutions who are authorized under the Trust Companies and Savings Company Act, or registered investment dealers in accordance with the law.  The financial intermediary must have operated as a Trust Company or Investment Dealer for at least three years and have its head office in Quebec.
  2. Is the QIIP investment guaranteed?
    Yes, the investment of CAD$1,000,000 is fully-guaranteed by the Government of Quebec. Within 30 days of the end of the five-year investment term, the entire amount of CAD$1,000,000 will be reimbursed without interest.
  3. Can the QIIP investment be financed?
    Yes. Because the investment of CAD$1,000,000 is fully-guaranteed by the Government of Quebec, authorized financial intermediaries are able to arrange financing for the investor. At current interest rates, the cost of financing is CAD$350,000.

Questions about the required French language level

  1. What level of French must I have in order to apply for the Quebec Investor Program?
    You only need to be able to demonstrate that you can communicate orally in French. You do not need to demonstrate that you can read or write in French. You must have knowledge of spoken French, corresponding minimally to level 7 according to the Échelle québécoise des niveaux de compétence en français.
  2. Do all members of my family need to be able to speak French in order to apply for the Quebec Investor Program?
    No.  Dependent family members do not need to be able to speak or understand French. Only the Principal Applicant must be able to meet this requirement.   
  3. How can I demonstrate that I meet the French language requirement of the Quebec Investor Program?
    The applicant must have a knowledge of spoken French corresponding minimally to level 7 according to the Échelle québécoise des niveaux de compétence en français (Québec scale of French proficiency levels).
    To support the demonstration of your knowledge of French, even if French is your mother tongue, you must present one of the following items: 

    • Attestations of test results or French evaluation diplomas accepted by the Ministère de l’Immigration, de la Francisation et de l’Intégration;
    • One of the high school diplomas accepted by the Ministère de l’Immigration, de la Francisation et de l’Intégration, even if French is your mother tongue

    The French evaluation tests and diplomas accepted by the Ministère are:

    • Test de connaissance du français pour le Québec (TCF – Quebec);
    • Test de connaissance du français pour le Canada (TCF-Canada);
    • Test de connaissance du français (TCF);
    • Diplôme approfondi de langue française (DALF);
    • Diplôme d’études en langue française (DELF);
    • Test d’évaluation du français adapté pour le Québec (TEFAQ);
    • Test d’évaluation du français pour le Canada (TEF Canada);
    • Test d’évaluation du français (TEF)

    Your results must be less than two years old at the time you submit your application.

    You may be exempted from having to provide one of the above-mentioned test results or diplomas, if you have one of the following secondary diplomas:

    • The general, vocational and technological baccalaureates issued by the French Ministry of Education 
    • The Certificat d’enseignement secondaire supérieur (CESS) issued by the Government of the French Community of Belgium 
    • The Certificat de maturité issued on completion of studies at a school in a French-speaking canton of Switzerland 

Questions about residency requirement

  1. After receiving our work permits through the QIIP, must we stay in Canada?
    Within the first two years of receiving your work permits, you must complete a stay in Quebec of at least 12 months. During these 12 months, a period of at least 6 months must be completed by the principal applicant, and the other period of 6 months can be completed by the PA or by the accompanying spouse or de facto spouse.  Once the 12-month period has been completed, you will be eligible to receive your Certificates of Selection of Quebec and be able to apply for permanent residence.
  2. After receiving my permanent residence through the QIIP, must we stay in Canada?
    To maintain your permanent residence status, you must have been in Canada for at least 730 days during the last five years. These 730 days don’t need to be continuous.
  3. Will the days I spend in Quebec count towards the days I must accumulate to be eligible for Canadian citizenship?
    Yes. To be eligible for Canadian citizenship, you must have permanent residence status in Canada, and have been physically present in Canada at least 1,095 days (3 years) during the 5 years before the date of the application for citizenship.  However, each day spent in Canada as a temporary resident within the 5 years before applying count as one half day of physical presence. 

Our Business Immigration Team

The Quebec Government and the Canadian Government provide a wealth of opportunities for potential immigrants with the skills needed to develop businesses in Canada. The Quebec Investor Program is one of several unique immigration programs offering accelerated permanent residency to entrepreneurs willing to bring their business management skills to Canada, as well as financial investors willing to commit support for Canadian ventures.

At Canadim, we have a team of experts willing to assist you with each step of the business immigration process. From confirming your eligibility, to the day you receive your permanent resident card in the mail, our business immigration team will ensure a first-class service standard every step of the way!

Business Immigration Assessment

If you are an investor, we can help you immigrate to Quebec. Complete our free assessment today and a member of the CANADIM Team will review your eligibility and contact you to discuss your options.

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