The Quebec Immigrant Investor Program is now open to new applications.
Quebec is accepting a total of 1,900 applications in this new intake period, which runs until March 15, 2019.
A maximum of 1,235 applications will be accepted from China (including Hong Kong and Macau).
The popular program is the only provincial immigration stream that allows applicants to obtain permanent residence through a passive investment.
This means that candidates are only required to make an investment in Quebec for a five-year term.
It’s important to note that the program’s eligibility criteria have been revised, effective August 2.
The main changes are higher net asset and investment requirements, which have been raised to CAD $2 million and CAD $1.2 million, respectively.
The previous requirements were net assets of CAD $1.6 million and an investment of CAD $800,000.
The investment must be for a five-year term with a subsidiary of Investissement Quebec and the investment agreement must be made through a financial intermediary authorized to participate in the QIIP.
The investment of CAD $1.2 million is guaranteed by the Quebec government and will be returned in full after five years.
Among other criteria is the requirement that all interested candidates must obtain a passing score under Quebec’s points system.