We are pleased to report that the Ministry of Immigration, Francization and Integration (“MIFI”) has suspended the retroactive application of the Attestation of the Learning of Democratic Values and Quebec Values expressed in the Quebec Charter of Human Rights (“Attestation of Quebec and Democratic Values”).
Subsequent to its initial announcement to the effect that the Attestation of Quebec and Democratic Values will apply to all clients in inventory, MIFI has now decided that it will only be required in QIIP applications submitted to MIFI after January 1st, 2020. Consequently, clients who have already submitted their application in Quebec Investor Program are exempted from this test to obtain Quebec’s approval (Certificate of Selection of Quebec).
Overview of Quebec Immigrant Investor Program
Quebec Immigrant Investor Program is the only unconditional investment program in Canada. It has been the largest and the most popular Canada investment and business immigration program around the globe. The program is currently suspended from November 1, 2019 to June 30, 2020 for the applications intake. Quebec’s Immigration Minister, Simon Jolin-Barrette said that the suspension period will be used to review the program.
Benefits OF QIIP
- There are no conditions that applicants need to fulfill to get the permanent residence.
- There is no waiting period like most of the other investor immigration programs.
- The selection in IIP will lead to PR.
It has been the most favored and recognized program among investors. Quebec Investor Program offers permanent residence to the applicants with a high net worth of CAD $2 million by making investments of CAD $1.2 million. This is the only option for high net worth business immigrants to gain permanent residency in Canada on the foundations of passive investment.
How to Qualify for QIIP?
- A legally gained individual’s net worth of CAD $2 million
- Two years of experience in management or at least five years of experience in business
- Investment of CAD $1.2 million for a five years period
- Willing to settle in Quebec without any force
As always, the IMMIGRATION WAYS team remains at your disposal for any questions you may have.