Over the years, the QIIP has undergone various proposed changes to increase its efficiency, effectiveness, and coherence with Quebec’s economic priorities.

Some notable past suggestions include:

Investment Limit:

In the past, there have been discussions regarding raising the minimum investment requirements for the program. These proposals aimed to ensure that these investor visa holders bring substantial capital to Quebec, thereby contributing to its economic growth.

Eligibility Criteria:

A key feature of previous proposals included improving qualification standards by introducing additional requirements, such as language skills or specific business experience, to attract investors who can better integrate into Quebec society and contribute to its development.

Processing Timelines:

Practical improvements have been made to streamline application processing timelines and provide applicants with a smoother and more predictable experience.

The Latest Proposed Changes:

The latest proposed amendments to the QIIP reflect the ongoing evolution of Canadian citizenship immigration policies and the changing needs of the Quebec economy.

Some of the fundamental changes include:

Net Worth and Management Experience:

The principal applicant must demonstrate a legally accumulated net worth of at least $1,500,000 (1.5 million). Additionally, they must have a high school (secondary) diploma and at least two years of management experience within five years of applying.

Financial Aid:

Once approved, the applicant must contribute CAD 1 million as a five-year investment through financial mediation guaranteed by the Quebec government and a CAD non-refundable contribution of $2 million to the Quebec government.

Temporary Stay And Language Skills:

Upon approval, the principal applicant and their family will be granted temporary family immigration to Canada for three years, allowing them to pursue employment and study opportunities in Quebec. Within the first two years, the applicant needs to achieve a level of 7 out of 12 on the Quebec scale of French proficiency.

Additionally, the applicant or spouse must spend at least six months in Quebec, with an additional six months spent by either party, to be eligible for the second citizenship services.

Investment Limit:

The latest proposals focus on raising the minimum investment required for the program in order to attract high-quality investors who can make a substantial contribution to Quebec’s economy and provide additional benefits to the province and its residents.

Financing Options:

To ensure legality and clarity of investment, specific financing options, such as borrowing from assets other than the applicant’s own assets, have been discussed.

Immigration Intake:

The latest proposals also mention possible changes in the annual number of applications and the selection process. This includes prioritizing potential investor immigration to the UK, to effectively create jobs or contribute to strategic sectors of the Quebec economy.

Impact on Aspiring Investors:

The proposed changes in QIIP will have a significant impact on prospective investors. Although higher investment limits may pose challenges for some, since the QIIP seeks to attract investors with strong financial capacity, it can lead to more incredible economic benefits for both Quebec and investors.

Additionally, modifications in financing options and family immigration to Canada intake may affect the strategies and timelines of potential investors. Therefore, investors should carefully consider these changes and assess how they align with their investment goals and aspirations for Canadian residency.

Effects On The Quebec Economy:

The proposed changes will have a positive impact on Quebec’s economy.

By attracting high-caliber investors with sufficient financial resources,

•   The program can increase foreign direct investment.
•   Create employment opportunities.
•   Promote economic development in strategic sectors.

Additionally, the changes could contribute to the overall growth and diversification of Quebec’s economy, helping to position the province as a desirable destination for international second passport possessing investors.

Stakeholder Perspectives:

The proposed changes to the QIIP have attracted attention and sparked debate among stakeholders, including,

•       Immigration Consultants
•   Industry Experts
•   Prospective Investors

Their perspectives provide valuable insight into the potential implications of the changes.

While some stakeholders expressed concerns about increased investment limits, others encouraged the positive impacts of attracting investors with greater financial capacity on Quebec’s economic landscape.

Program Timeline And Next Steps:

The latest proposed changes to the Quebec Immigrant Investor Program are currently undergoing a 45-day public consultation period. In the meantime, stakeholders and the public have an opportunity to provide feedback and suggestions.

The government will take these comments into consideration before finalizing the regulations.

After the public consultation, the government will analyze the feedback received and adjust the proposed changes accordingly. The final version of the regulations is expected to be published in autumn.

Once the regulations are finalized, the QIIP will reopen, allowing investors to submit their applications based on the updated requirements. The program is expected to reopen before the end of 2023, providing new opportunities for those seeking global citizenship/ Canadian residency/ second citizenship through investment.

How to get in touch with Immigration Professionals?

If you are a senior manager or businessman with minimal asset value. USD 500,000, you can discuss with us your options for family immigration to Canada.

Schedule your first 30-minute free consultation with an immigration consultant by filling the form on immigration-ways.com or contact an advisor on 0301-8286650