What is Quebec Immigrant Investor Program and History of the QIIP?

Posted by DreamCountry Visas on March 23rd, 2021

Quebec is the last province to offer this way to permanent residency, through the Quebec Immigrant Investor Program (QIIP), The Quebec Immigrant Investor Program is starting just after Covid19.

In contrast to business entrepreneur and start-up visas, the investment needed to acquire this visa has nothing to do with maintaining a business:

candidates don't have to oversee or set up an organization in Quebec to be qualified for this program. Instead, they should loan an amount of cash to the government authority in the form of an interest-free investment, which is then used to enhance the province’s economy.

History of the QIIP

As a component of the Canadian IIP, Quebec accepting immigrant investors since 1986. The objective of the IIP and now the QIIP was to attract well-to-do foreign nationals with business experience to Canada, so they could help add to the nation's economy – in particular through a significant investment made straightforwardly to the government. In exchange for their investment, individuals who migrate through Canada's IIP were allowed prompt and unconditional permanent residency, with the alternative to apply for citizenship down the line.

The Federal IIP pressed onward until it was dependent upon a ban in 2012, trailed by a conclusive cancellation in 2014. The authority clarification for the cancellation was that investors were not keeping up adequate connections to Canada subsequent to moving after, and they ended up paying significantly fewer than other economic immigrants in the long term.

So, if the IIP was chopped out on a government level, how did Quebec figure out how to keep up its own adaptation of the program? The Canada-Quebec Accord, which gives Quebec one-of-a-kind opportunities with respect to immigration to the territory or Quebec wants to respect who is looking for Canada Immigration, is the thing that permitted it to diverge and keep up the QIIP.