March 28, 2018 – Quebec immigration authorities have announced important changes to the net worth and investment threshold under its popular Quebec Immigrant Investor Program.
Under the proposed regulations, candidates must possess a legally acquired net worth of $2 million, up from the previous $1.6 million. Candidates must also invest a minimum $1.2 million over five years instead of the current $800,000. All remaining requirements remain the same.
It is expected that a new intake period and quota for the QIIP will be announced by the Quebec Minister prior to August 15, 2018, with stakeholders expecting a similar quota of 1,900 applications from previous periods.
The QIIP is suited towards high net worth individuals looking for an attractive passive investment program offering Canadian permanent residence. The Quebec Immigrant Investor Program is the only passive investment program of its kind in Canada and the second largest in North America after the EB-5 program in the United States.
Under the 2017/2018 subscription period, Quebec accepted a maximum of 1,900 applications including a maximum of 1,330 from China, Hong Kong and Macao and the balance of 570 applications from elsewhere.
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The content of this article reflects the personal insight of Attorney Colin Singer and needs no disclaimer