The Quebec Immigrant Investor Program suspension is extended
The Minister of Immigration, Francization and Integration, Madam Nadine Girault, announced that the suspension of Quebec Immigrant Investor Program (“QIIP”) will be extended for a period that could end on April 1st 2023.
QIIP was first suspended on November 1st 2019, expressing the government’s desire to revamp the QIIP. A section of the ministerial order mentioning that the suspension can be modified at any time during this period gives hope that the Quebec government may come with a revamped QIIP before 2023.
The Quebec Investor Program was established in 1986 and successfully attracted thousands of investors on a yearly basis. According the latest conditions of QIIP, the applicants were qualified if they could demonstrate 2 million CAD net worth obtained legally, at least two years of management experience and agree to make a 1.2 million CAD investment for a period of five years. Most of the immigrant investors were selected from China (Mainland, Hong Kong and Taiwan), Iran, Bangladesh and Vietnam.