Quebec’s Immigrant Investor Program (QIIP) is gearing up to welcome a new wave of applicants. After a temporary break that is about to end on Jan. 1, 2024, this renowned program is ready to reopen with a fresh set of requirements, promising exciting prospects for those seeking to make Quebec their home.
The Countdown to Jan. 1, 2024
Quebec Immigration Minister Christine Fréchette took a step in March, deciding to extend the closure of the QIIP to new applications. The goal? To implement changes aimed at enhancing the socioeconomic integration and stability of selected investors in Quebec.
This strategic move, outlined by the Ministère de l’Immigration, de la Francisation et de l’Intégration (MIFI), reflects a commitment to refining the program for a more impactful immigrant experience.
What’s New in QIIP 2024?
As the doors reopen, aspiring candidates will face a set of enhanced requirements. Among them,
- Proficiency in French takes center stage, with applicants now required to demonstrate a Level 7 French-language proficiency on the Échelle québécoise des niveaux de compétence en français.
- A work permit from Immigration, Refugees and Citizenship Canada (IRCC) and at least a secondary school diploma are now integral components of eligibility.
- Moreover, applicants and their spouses or common-law partners must reside in Quebec for a minimum of six months post obtaining their work permit.
Investment Pathways in QIIP 2024
For those planning on the QIIP journey, a $1 million investment with IQ Immigrants Investisseurs is a key requirement. Additionally, candidates must provide $200,000 to the program through a participating financial intermediary within 120 days of a favorable decision on their applications.
In the past year, Quebec has witnessed a rise in immigration, welcoming a record-breaking number of permanent residents and temporary foreign workers. Quebec’s dedication to controlled immigration is further emphasized in its immigration plan for 2023. The plan, presented by Minister Fréchette, aims to strike a balance by welcoming between 49,500 and 52,500 new permanent residents. The emphasis is not just on the quantity but on providing comprehensive settlement services and effective integration.
A Francophone Future in Quebec
The province’s commitment to managing this growth is reflected in Premier François Legault’s focus on promoting Francophone immigration and ensuring the seamless integration of newcomers.
Quebec’s unique approach underlines its commitment to maintaining the vitality of the French language. The plan emphasizes the importance of immigrants contributing to the Quebec economy across all regions while actively engaging in the French language learning process.
Start-Up Visa Program (SUV)
Beyond Quebec, immigrant entrepreneurs have alternative routes, such as the Start-Up Visa Program (SUV). This initiative offers a path to permanent residence for those entering Canada on a work permit while awaiting their permanent residence application processing.
Thus, with a focus on language proficiency, residency, and strategic investments, the Quebec Immigrant Investor Program 2024 invites aspiring immigrants to embrace a promising future in the province of Quebec. Seize the opportunity and become part of Quebec’s unique process in 2024!