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 Created by the provincial government in 1986, Quebec’s Immigrant Investor Program is designed to allow business people and their families to enter the province of Quebec as permanent residents on an unconditional basis. In return, funding made available through the program helps provide subsidies in support of Quebec small and medium businesses.
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To meet the government criteria for the Quebec Immigrant Investor Program, you must, among other things:
- Have a minimum net worth of CDN $1,600,000, acquired through lawful economic activities, excluding the amounts received by donation less than six months before the date on which the application was filed;
- Have management experience (duties related to the planning, management and control of financial resources and of human or material resources under your authority), for at least two years in the five years preceding the application for a selection certificate, in a legal business (farming, commercial, industrial or professional), or for an international agency, a government or one of its departments or agencies;
- Agree to invest CDN $800,000 over a five-year period through an Authorized Financial Intermediary duly recognized by the Immigration Authorities in Quebec (MICC) and Investissement Quebec (IQ). This investment is fully guaranteed by the Government of Quebec.;
- Declare the intent to settle in the province of Québec.
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There are two different ways to make the required investment in order to qualify for the Quebec Immigrant Investor Program. Applicants can either deposit the full investment (Full Investment), or finance the required amount (Financed Investment).
Full Investment
The investor deposits the full amount of CDN $800,000. No further payment is required.
At the end of the five year period, CDN $800,000 is returned to the investor with no accrued interest.
Financed Investment
The investor pays a reduced amount*, which is used to finance a CDN $800,000 closed five-year term loan from a chartered bank. No further payment is required. However, the paid amount is not returned to the investor at the end of the five-year period.
This option is particularly attractive for applicants seeking to retain maximum capital for investment in ongoing business operations.
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What are all the payments expected of an applicant?
The Quebec application for Selection Certificate will require an applicant to pay application fee of CDN $3,899 for the main applicant and CDN $152 for each dependent included in the application. The Canadian Federal Authorities will require an application fee of CDN $1,050 for the main applicant, CDN $550 for each dependent above the age of 22 and CDN $150 for each dependent below the age of 22. The full investment amount will be CDN $800,000. The financed investment amount depends on the prime lending rates* in the national banking system. An applicant may also incur miscellaneous expenses related to their application such as translation of documents, traveling expenses to attend interviews as requested by the Immigration Authorities, as well as costs related to medical tests and police clearances.
* Bank of Canada key interest rate.
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As Canada’s largest province accounting for nearly 25% of the national population, Quebec is a dynamic and prosperous society. In addition to the advantages of living in Canada, Quebec offers:
- Fast and efficient process, allowing investors and their families to settle anywhere in Canada;
- A vibrant and rich multi-cultural and religious society creating a unique place to raise families;
- Excellent education system with preferential fees for permanent residents at world-renowned universities;
- Excellent public and private healthcare system;
- Canadian passport is one of the most valued passports for international travel;
- Unspoiled environment with strict environmental controls;
- Comprehensive range of government programs to support business and technological development;
- Close integration with US economic markets and NAFTA.
Quebec’s Immigrant Investor Program offers a unique tax advantage.
Before arriving in Canada, the Immigrant Investor may establish an offshore trust in order to benefit from a five-year income tax exemption on world wide revenues, should the conditions set in the law and regulations are met. For comprehensive insight into life in Quebec, visit the province’s official immigration portal.
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The below summarized process is based on the requirements that need to be fulfilled for a Permanent Residency application of a foreign investor in the province of Quebec, Canada.
Arton Capital/PWM Capital has outlined the below procedures by combining current timelines of local government institutions as well as the actual process our clients have experienced so far.
The procedure can be broken down to 7 basic steps that the main applicant will have to go through. Some of them require his/her involvement, while others are performed by Arton Capital/PWM Capital on the grounds of the power of attorney(s) given by the main applicant. All of the steps are dependent on the successful completion of the previous step.
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Quebec IIP
