The Quebec Immigrant Investor Program, also known as the QIIP, is an opportunity for individuals to become eligible for permanent residency in Canada through financial means of investment. If you’re interested in moving to Quebec and becoming a resident but don’t meet the requirements for any other program, then the QIIP may be right for you. This article will take you through everything you need to know about what it takes to get your Quebec Investor Immigrant visa. You’ll find details on how much money you need to invest, how much time that investment needs to be held for, where to invest your money, and more. So read on if you’re considering this as part of your path toward Canadian Permanent Residency.
What is the Quebec Immigrant Investor Program (QIIP)?
The Quebec Immigrant Investor Program, also known as the QIIP, is an economic immigration program that offers a path to get canadian pr for individuals willing to make a significant financial investment in Quebec. To be eligible for this investor immigration program, you must prove that you have enough money to make a substantial investment in the Canadian economy. The program was created in 1991 to boost the local economy. Applicants are required to make a CAD 800,000 investment through a government-approved financial intermediary. The investment can be in the form of a loan, a guaranteed investment, a share or equity in a business, or a combination of these. In addition, you must prove that your investment will create employment opportunities, generate revenue, and increase the competitiveness of the Quebec economy.
How much does it cost to get a QIIP?
The amount you need to invest in getting your Quebec Investor Immigrant visa depends on whether the investment is in an interest-bearing account. Investors who place their money in an interest-bearing account will pay a lower fee but will have to wait longer to return their investment. Conversely, if you choose not to place your money in an interest-bearing account, you will pay a larger fee. Investors who invest in an interest-bearing account must repay a minimum of CAD 100,800 or CAD 152,000 if the investment is non-interest bearing. Additionally, investors who select to have their money placed in an interest-bearing account will receive a lower refund as interest rates are currently very low.
How long do you need to hold your investment?
Investors who place their investment in an interest-bearing account must wait five years to receive their entire initial investment back in addition to a portion of their earnings. However, if you decide to invest your money without interest, you will have to wait ten years to receive your total initial investment back in addition to a portion of your earnings.
Where can you invest your money?
As mentioned above, you can choose to place your investment in an interest-bearing account or a non-interest-bearing one. Interest-bearing accounts are generally safer and guaranteed by a financial institution, while non-interest-bearing accounts are riskier and rely on a company’s performance. As part of the Quebec Investor Immigrant program, you must invest your money in a government-approved investment. These investments include: –
- A guaranteed investment such as a guaranteed investment certificate (GIC) or a public sector pension fund
- A public or private debt instrument or a share in a company
- Equity investment or an investment in a government-sponsored private equity fund
- A loan to an individual, a business, or a government agency.
Can you see your investment again after getting the visa?
When you place your investment in an interest-bearing account, you will receive most of your initial investment back after five years. You will also receive a portion of your earnings as interest. You can withdraw your total investment after five years but must pay taxes on it. If you choose to place your investment in a non-interest-bearing account, you will have to wait ten years to receive the total amount back in addition to a portion of your earnings. After ten years, you can withdraw your initial investment and avoid paying taxes on the earnings.
What’s next after you get your QIIP visa?
After you receive your Quebec Investor Immigrant visa, you can move to Quebec with your spouse and dependent children as soon as possible and begin living there. Once you arrive in the province, you must go to a government office and your application documents to receive your Quebec investor immigrant visa. You can apply for a Canadian Permanent Residency one year later once you receive your visa. If you plan on studying, visiting, or working in Canada before obtaining your Quebec investor immigrant visa, you must apply for a Temporary Resident Visa (TRV). A TRV allows you to travel to and stay in Canada for up to six months as a temporary visitor. You can visit a Canadian embassy or consulate to apply for a TRV.
The Quebec Investor Program is an economic immigration program that offers a path to permanent residency for individuals willing to make a significant financial investment in the province of Quebec. To be eligible, you must have enough money to make a substantial investment, prove that your investment will create employment opportunities, generate revenue, and increase the competitiveness of the Quebec economy. If you have enough money to invest, the Quebec Investor Program may be the right path to permanent residency in Canada.