For those looking to move to Canada from the US based on an investment, there are several different options. For those looking to invest in Canada, there is one programs which only requires a financial investment, and there are several programs which require a financial investment into a Canadian business as well as the requirement to work in the business.
The Quebec Immigrant Investor Program (QIIP) is designed for those looking to invest in Canada without the requirement to work in Canada.
To qualify for the QIIP, there are a few critical eligibility requirements to take note of. These expectations ensure that applicants have the financial capability and relevant experience to contribute to Quebec’s economic landscape. Before you set out on the application process for the QIIP, be sure you meet all the following criteria:
Minimum Net Worth
You must have a minimum net worth of CAD $2 million, which can be acquired alone or with the help of your spouse or common-law partner if they are immigrating with you. This net worth must be legally obtained and can include assets such as property, bank accounts, pension funds, stocks, and shares.
Business or Management Experience
In order to be eligible for the Quebec Immigrant Investor Program you need to have a minimum of two years full-time management experience within the last five years. This experience must be in a specific enterprise (agricultural, commercial, industrial), or in a government or international agency. Your experience should involve the planning, supervision, and control of financial, human and/or material resources. If you acquired your management experience in a professional capacity, the company you managed must have employed at least two full-time employees, not including yourself.
Investment in Quebec
As mentioned, the QIIP hinges on you making a five-year term, risk-free investment of CAD $1 million, and a $200,000 financial contribution to Investissement Quebec Immigrants Investisseurs Inc. This CAD $1 million investment is refundable and the CAD $200,000 is a non-refundable financial contribution. These investments do not collect interest and must be made within 120 days of receiving an immigration acceptance decision.
Language Proficiency
As the primary applicant to the program you will need to have a level 7 knowledge in oral French (according to the Quebec scale of French proficiency). We suggest taking a language test to ascertain your proficiency level before entering into any immigration journey to Canada, especially for the QIIP.
Your Education Level
Before applying for the QIIP, the main applicant will need to have an education level that equates to at least a Quebec secondary school diploma (high school diploma).
Intention to Settle
In order to ensure you are committed to living and integrating into Quebec society, you will be required to live in the province for at least 6 months. And after receiving a positive decision on your QIIP application, you will be granted a work permit from the Ministère de l’Immigration, de la Francisation et de l’Intégration (MIFI). Within the next two years of the issuance of the work permit, you must complete a stay in Quebec of at least 12 month. The 12 month stay in Quebec can be split 6 months between spouses, if applicable. During this period, at least 6 months must be completed by you as the main applicant, and the remaining 6 months can be completed by you or your spouse or common-law partner.
Book a consultation with our Quebec RCIC/QRCI – Judith, who will be able to advise you on your Quebec Immigration needs.
Provincial Entrepreneur Programs
For those looking to move to Canada from the US by investing in a business, several provinces across Canada have provincial entrepreneur programs available. These require potential investors to either purchase an existing business, or invest in starting a new business in Canada. Each province has their own requirements in terms of how much money you need to invest, which types of businesses are eligible, how much business management experience you need to have, your language proficiency, your educational background, and your total net worth. Many provinces now use an Expression of Interest (EOI) system where applicants are scored based on their proposed business plan, and only those with the highest score are selected to move forward. To learn more about the different entrepreneur programs available across Canada, speak to one of our experts.