The Quebec Immigrant Investor Program (QIIP), first introduced in 1986, has been one of Canada’s most popular business and investment immigration programs for nearly 40 years. This program is designed for experienced investors who have substantial personal assets and wealth and wish to invest them in the province of Quebec.
Eligibility Requirements for the Quebec Investor Program
To apply for the QIIP, applicants must meet the following criteria:
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Investment Agreement: The applicant must have entered into an investment agreement with an authorised financial intermediary.
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Management Experience: At least two years of managerial experience within the five years before applying.
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Net Worth: Minimum personal net worth of CAD $2 million, with proof of legal origin and accumulation.
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Education: At least a high school diploma (or its equivalent in Quebec).
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French Language Skills: Oral proficiency in French at a minimum of level 7 according to the Échelle québécoise des niveaux de compétence en français.
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Knowledge of Quebec Values: Obtain a certificate demonstrating knowledge of Quebec and democratic values, which can be obtained through an online assessment after application submission.
Program Process
After receiving approval from the MIFI (Ministry of Immigration, Francization, and Integration), the applicant must make a five-year investment of CAD $1 million and pay an additional CAD $200,000 as a contribution fee.
Once these requirements are met, MIFI will issue a Notice of Intent to Select, which allows the applicant and their dependent family members to apply for a Canadian work permit.
Applications are also evaluated based on age, language proficiency, and educational background.
Note: The QIIP has a limited number of applications accepted per intake period and only accepts applications during specific time frames.
Benefits Compared to Other Canadian Business Immigration Programs
The QIIP is the only immigration program in Canada that allows applicants to gain status solely through financial investment. Other business immigration programs require applicants to start or purchase a business and actively manage its operations.
Application Timing and Limits
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The program has been open since January 1, 2024, and will remain open indefinitely.
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There is no quota or limit on applications for 2024.
Government Fees
The government application fee is CAD $17,380, which covers the entire family.
Eligible Family Members
The principal applicant can include a spouse and all unmarried children under 22 years of age. Children over 22 may be included if they were financially dependent on their parents before turning 22 and are unable to support themselves due to a physical or mental condition.
Assets and Net Worth Calculation
Eligible assets include:
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Bank accounts and deposits
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Life insurance and pension funds
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Cryptocurrencies
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Stocks, bonds, and other investments
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Equity in private or publicly traded businesses
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Real estate
Note: Spouse’s assets must be included in the net worth calculation. Inherited assets can be counted, but gifts received within six months before application cannot be included in meeting the CAD $2 million minimum requirement.
Required Investment
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Investment amount: CAD $1 million
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Investment guarantee: Fully guaranteed by the Quebec government; the full amount will be refunded without interest after the five-year term.
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Financing option: Authorised financial intermediaries may arrange financing, with current financing costs around CAD $350,000.
French Language Requirement
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Only oral French proficiency is required; reading and writing skills are not mandatory.
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Only the principal applicant must meet the French requirement; dependent family members are exempt.
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Acceptable proofs of language proficiency include:
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French evaluation certificates recognised by MIFI
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Approved high school diplomas are accepted by MIFI
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French language tests such as TCF, DALF, DELF, TEF, and TEFAQ
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Test results must be less than two years old at the time of application.
Residency Requirements
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After obtaining work permits, applicants must reside in Quebec for at least 12 months within the first two years (6 months by the principal applicant, 6 months by the applicant or spouse).
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After receiving permanent residency, applicants must have been physically present in Canada for at least 730 days within the past five years (days do not need to be consecutive).
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Days spent in Quebec count toward eligibility for Canadian citizenship. Temporary residents count as half a day for each day present.
The QIIP provides an exceptional opportunity for experienced investors to secure permanent residency and eventual Canadian citizenship while making a guaranteed financial investment in Quebec.