QIIP is the only option available in Canada for high net worth business immigrants to secure Canadian permanent residence on the basis of a passive investment. According to the Immigration Quebec, it will accept up to 1,900 new applications between September 10, 2018 and March 15, 2019. Up to 1,235 applications are designated for immigrants from China, Macau and Hong Kong, and 665 for immigrants from the rest of the world.
Process and Timelines
Applications are to be submitted to Canada’s federal immigration authorities (not QIIP), after which preliminary approvals by Quebec immigration authorities occurs in about 12 months. Depending on the country of the applicant it may take between 12 and 44 months to get a visa through the QIIP. Timelines are generally shorter in North America, Western Europe and South America (12 months), but longer in other countries (up to 44 months).
You must have a legally acquired personal net worth of $2 million;
You are required to have at least two years of suitable management or business experience within the five years preceding the application;
You must invest $1.2 million in a passive government guaranteed investment for a period of five years, bearing no interest;
You must demonstrate a clear intention to settle in the province of Quebec.
Step-by-Step QIIP Application Process:
Gather documentation supporting your personal net worth and managerial experience. You must also prove the legal, historical accumulation of all your assets.
The completed application is reviewed for compliance, by an approved licensed financial intermediary with quota allocations from Quebec immigration authorities.
The application is then submitted to Quebec immigration authorities.
A file number is issued by Quebec within 30-days after reception.
A notice of interview or interview waiver takes place within 12 months after submission.
A decision takes place within 30 days after interview.
Approved applicants will be requested to make their investment within 110 days of a positive decision.
After investment you will receive a Quebec Selection Certificate (CSQ). This document allows you to apply for permanent residence at the federal level.
Submit a full application to federal immigration authorities, who will conduct security and medical checks.
Depending on the visa office, applications are finalized to visa issuance within a range of approximately 12 months (North America, Western Europe and South America) to 44 months (China).
After approval, passports are requested and a confirmation of permanent residence (COPR) is issued to the applicant and dependants.
Applicants and dependants must travel to Canada before the expiry date on the COPR document. The COPR will have a validity date near 12-months, corresponding to the 1-year anniversary of the medical exam.