In addition to the QIIP’s minimum net worth and passive investment requirements, applicants have to meet the following requirements:
You have to be older than 18 years
You have to be of impeccable character and international standing
You have to have at least 2 years of relevant management experience acquired during the course of the past 5 years
You have to have a clear police record in your country of original origin or current residency
You have to intend to settle in Quebec.
You have to score a minimum of 75% in the Quebec Values Test
While proficiency in French is not a mandatory requirement, a basic level of proficiency could count in your favour.
The Quebec IIP’s predecessor program, formally known as the Canadian Immigrant Investor Program (Canada IIP), was one of the most popular investment migration programs in the world. Upon launch in 1986, it was a true industry pioneer, and attracted over 200,000 applications during the course of its lifetime.
The Canadian federal residency program, enabled foreign investors with a net worth of $1.6 million to obtain Canadian residency by investment subject to loaning $800,000 to the Canadian government on an interest free basis for a period of 5 years. The program attracted scores of well-heeled investors from China and Hong Kong, in particular.
The program was subject to a fair amount of criticism, especially upon termination. With the passing of Bill C31 of 19 June 2014, the program was shuttered, leading to the cancellation of all pending applications and leaving around 65,000 applicants already being processed in the lurch. At the time the program was dismantled, investors also had to prove at least 2 years of business management experience, and had to meet a range of health, reputational and security related requirements.
Disclaimer: The above information is intended as general guidance on the subject only, and was deemed accurate at the time of publication. The program is undergoing changes in 2020, and the accuracy or completeness of the information supplied is not guaranteed, and the publisher will not be held liable for its accuracy, or any losses, direct or indirect, suffered as a consequence of relying on this information. Seeking expert advice before making any investment decision is highly advisable.