It has been decided by the Quebec government and it will also be published this Wednesday in the official Gazette that the Quebec Immigrant Investor Program QIIP will remain on hold until March 31, 2023. This is the maximum extension allowed by the law. The main reason to extend is that the government only wants to ensure efficiency in its efforts regarding the program.
However, the Quebec Immigration Ministry has discussed with the industry and made it clear that the ministry is in the final stages of the program and the matter just needs to be approved by the Federal government for the launch of a new formula that will allow the applicants or the investors and their families to come to Quebec before the Canadian permanent residency is issued. This is good news as the investors will be on a fast track to Quebec.
Moreover, even though the deadline is far away, the government is very confident that they should issue the new requirements of the investor program in the coming few weeks. This will help for trial and error as the industry participants can review the new requirements for 45 days and give their feedback to the government. After this, it will normally take 2 months to review the conditions and adjust them if the need may be, leading towards the official launch of the program. It is also expected by the industry participants that the government has made it clear the conditions to settle in Quebec will be reinforced.