The Quebec Immigrant Investor Program (QIIP) is Canada’s only program. Its benefits include permanent residency in the country. Established in 1986 by the provincial government, it caters to affluent individuals with demonstrated managerial skills. When an individual or family invests $800,000 under the Quebec Immigrant Investor Program (QIIP), they and their dependents are granted permanent residency in Canada.
Many groups, including the government, have raised concerns about the potential negative effects of an immigrant investor program on the economy. Before its abolition in 2014, the Federal Immigrant Investor Program was a similar, but separate initiative from the federal government took. It discounted earlier research showing the program’s proximate and remote positive effects.
Because of the immigrant investor sector, governments now have access to billions of dollars that may be used for the construction of infrastructure. In Canada, the market for investors in the middle-tier tier was firmly established. Candidates who are successful in getting their applications approved will be asked to make a non-interest bearing deposit of $800,000 into a government-guaranteed investment plan for a period of five years.
As a direct reaction to the growing need for investment money expressed by Canadian businesses, the Federal Immigrant Investor Program was established. For a period of five years, it provided immigrants to Canada with the opportunity to make interest-free passive investments. The value of investment capital in Canada was much greater than it had been in previous decades.
The QIIP Program
Among immigration schemes across the globe, the Quebec Immigrant Investor Program (QIIP) stands out as exceptional. When it comes to immigrating to Canada, the Quebec Immigrant Investor Program (QIIP) gives investors and their immediate families the greatest possible opportunity of doing so without having to meet rigorous or unattainable conditions.
The government of Quebec, Canada, created the qiip to entice investors to settle in Quebec and bring their money with them. When an applicant makes a substantial financial investment in Quebec, they and their immediate family members are eligible for permanent residence in Canada and may settle in any province.
The Quebec Immigrant Investor Program (QIIP) has been dubbed a “game-changer” in the Canadian immigration industry due to the fact that it makes the process of coming to Canada much less difficult than it is via other routes. For instance, the Express Entry program in Canada includes stringent requirements including education level, years of relevant job experience, level of language competence, and age.
Those with the highest scores, that is, those who meet every single one of the program’s criteria and who also have the greatest experience and finest credentials, are the only ones accepted into the Express Entry program. For this reason, the Quebec Immigrant Investor Program (QIIP) is a more favorable option for investors seeking permanent residence in Canada. There are no restrictions on age or educational background for this program.
The investor and his or her dependent children (under the age of 19) are eligible to get permanent residence, giving them all the same rights and privileges as the investor. An investor who satisfies the residency requirements is entitled to the following benefits:
- Access the majority of Canada’s social programs, such as healthcare.
- Go to Canada to work or study.
- Apply for Canadian citizenship (if requirements are met).
- Security under the law of Canada and the Canadian Charter of Rights and Freedoms.