The Quebec Immigrant Investor Programme’s new subscription period begins. What can you expect in 2016?
The next stage of the programme of local immigration through investment in Quebec will soon begin. This program is considered a worthy alternative to the US EB-5.
All applications for the programme must be made between May 30th 2016 and February 28th 2017. However, many experts agree that the government allocated quota will be filled early on.
This version of business immigration allows investors and their families to obtain permanent residence in Canada risk-free, by investing $800,000 Canadian dollars (CAD) into the country’s economy.
1900 applicants will be accepted under this programme, with a maximum of 1330 applicants from China, Hong Kong, and Macau. The remaining 570 places can be claimed by applicants from elsewhere.
The minimum requirements for participation in the programme are:
- A legally acquired net-worth of $1.6 million CAD
- At least two years of suitable managerial experience out of the last five
- Be able to invest $800,000 CAD for a 5 year period in a company specified by the state
- Intend to live in the province of Quebec, as well as pay an administrative fee of $15,000 CAD
The Quebec Immigrant Investor Programme has a number of advantages over similar programmes in other countries.
By participating in the programme, the investor receives permanent residence in Canada without probation or any other additional conditions (as opposed to the EB-5, in which a visa is granted for two years and during this period the investor must create at least ten jobs).
Another significant advantage is that the investment is risk-free. The Government of Quebec guarantees the investment of $800,000 CAD in the economy of the region, and the full sum will be returned after a 5-year period.
Furthermore, the money needed for the programme is significantly less than that of other programmes. For example, to participate in the Canadian immigration programme for investors, the applicant requires a capital of at least $10 million CAD.
Finally, the investor’s family members receive permanent residence and full social security (which not all investment immigration programmes offer).