Quebec Immigrant Investor Program

Since 1986, the Canadian government has been operating the Quebec Immigrant Investor Program (QIIP). This program is the only one which allows passive investment route to enter Canada. Annually, the Quebec government extends invitations to 1,900 applicants under this program. Notably, a substantial 1,235 applications are reserved for China, with the remaining 665 openings available for applicants from other countries. Rudraksh Immigration Group in Mohali enlists the highlights of this program including requirements, salient features and processing time.

Requirements

1. This visa program is primarily catered to HNIs (High Net-Worth Individuals). In fact, to qualify for this program, the applicants need to have a verified net worth of at least $2 Million CAD. That is the minimum condition for anyone to apply for this program.
   
   
2. Apart from that, the applicant must also possess a management experience of 2 years. Alternatively, the applicant could also be a sole proprietor of a business or a shareholder in the company. This must be the case within the last 5 years. This proves that the applicant has the pedigree of managing businesses.
   
   
3. There is also an investment component in this application. Individuals must invest a minimum of $1.2 million CAD for a 5-year period in a Quebec government-approved program. Importantly, this amount can be financed, but a mandatory initial liquidation of $350,000 CAD is necessary, followed by optional financing for the rest. This amount is used for the development of local programs in Quebec by the federal government.

These are the primary requirements for this program. In essence, these should be fairly easy to fulfil for any HNI. The auxiliary provision of financing makes it easier still.

Processing Time

Another critical component in any migration program is the processing time. Having to wait for months and months is definitely the most stressful time for any applicant. In some programs, the waiting times could even run into a couple of years. That is what most applicants are afraid of. Unfortunately, the situation with the Quebec Immigrant Investor Program is somewhat similar. There are three critical aspects which determine the overall duration of this procedure.

1. Facilitator Involvement: Government-approved facilitators play a crucial role in preparing and submitting the application, a process that typically takes around 1 year. However, during this process, the facilitator will take care of the entire proceedings.
   
   
2. Federal Application: Upon receiving approval, the application is submitted to federal authorities for medical and security verifications. Processing times at this stage can vary from less than a year to approximately 4 years, particularly for applicants from China. Applicants from North America, South America, Europe and other parts of Asia will need lesser time. During this time period, everything depends on the province which is working your visa file.
   
   
3. Overall Processing Time: Under normal circumstances, the total processing time for this program ranges from 20 months to 55 months. This takes into consideration the initial process with the facilitator and the province-specific time frame.

Role of Overseas Migration Consultancy

Embarking on the journey to Canadian permanent residency is a significant undertaking. To navigate the complexities seamlessly, it is imperative to seek the expertise of professional overseas migration agencies. Rudraksh Immigration Group stands ready to provide invaluable assistance, ensuring a smoother and more assured path to realizing your dream of settling in the welcoming and prosperous land of Canada. For more information, contact Rudraksh Immigration Group today.