As of Q3-2018, preliminary approvals by Quebec immigration authorities may be achieved in 24 or more months to acquire a visa based on the Quebec Immigrant Investor Programme (QIIP), and this depends on two (2) important factors: the applicant’s citizenship: and, the global location where the application is formally submitted.
Waiting times are shorter in North America, Western Europe and South America (12 months), but longer in China, Macau and Hong Kong (48 months). These waiting times are after a full application has been submitted to Canada’s federal immigration authorities.
QIIP is the only option in Canada for high networth business immigrants to secure Canadian permanent residence on the basis of a passive investment.
The QIIP will accept a maximum of 1,900 new applications during the period from September 10, 2018 to March 15, 2019. This includes 1,235 applications from China, Macau and Hong Kong, and 665 applications from the rest of the world.
How Do I Qualify For QIIP?
- A legally acquired personal networth of $2 million CAD;
- Two (2) years of suitable management or business experience within the five years preceding the application;
- Invest CAD $1.2 million in a passive government guaranteed investment for a period of five (5) years, bearing no interest;
- An intention to settle in the Province of Quebec.
What Is the QIIP Application Process?
- Gather documentation supporting your personal networth 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 then 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 48 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 One (1) year anniversary of the medical exam.