The Quebec immigrant investor program (QIIP) was launched in 1986, offering permanent residency to international business people with net assets of at least $1.6 million, who make an interest-free investment of CAD$800,000 in the province. Investor immigrants can settle in Quebec or live anywhere in Canada under this program. The government returns their money after five years.
Quebec revised its IIP as a part of new immigration reforms in 2018 with a new quota of 1900 applicants, of which 1,235 reserved for Chinese. The new scheme requires an investment requirement of CAD$1.2 million with net assets of CAD$ 2 million. The application period for 2019 is already open, will run from September 10, 2018 to August 31, 2019
According to the Quebec immigration statistics of QIIP, since 2006, a total of 40,380 admissions were approved under the immigrant investor program with over 90% applying from Asia lead by chinese.
Quebec IIP Admissions
| 2006 | 1152 |
| 2007 | 1444 |
| 2008 | 1035 |
| 2009 | 1343 |
| 2010 | 2142 |
| 2011 | 3705 |
| 2012 | 4432 |
| 2013 | 3794 |
| 2014 | 3663 |
| 2015 | 5112 |
| 2016 | 4427 |
| 2017 | 4331 |
| 2018 | 1900 |
| 2019 | 1900 |
| Total | 40380 |
- Asia – 91%
- Africa 4.6%
- Europe – 0.8%
- America – 2%
Top countries
- China – 52.00%
- Iran –Â 17.30%
- Pakistan –Â 5.40%
- India –Â 2.60%
- Egypt –Â 1.80%
The data reveals 93% of QIIP investors selected Montreal as their destination. A total of 57,935 investor immigrants came through Quebec IIP in thirty years (since 1989)
Rich chinese who came through Quebec IIP, own over 4,500 properties in Toronto and Vancouver. It is reported only 10% of Quebec IIP millionaire investors live in Quebec
Economic Impact
According to the Invest Quebec report, the QIIP generated significant benefits to the economy of Quebec with productive investments. A total of $749.7m invested in businesses. The completion of the projects added 4,752 person-year jobs, create an added value of $ 399.6 million providing the Québec government with $ 62.0 million in tax and fiscal revenue.
For the 2017-2018 fiscal year, sales generated by the portfolio companies that benefited from the program amount to $ 11.4 billion and translate into 90,559 person-year jobs for client companies and their suppliers. . The result will be an added value of $ 7.5 billion and $ 942.4 million in tax and quasi-tax revenue for the Government of Quebec.
The report further said Quebec issued $5.2 billion worth of government bonds issued under immigrant investor scheme in 2018
Citizenship
Canada amended citizenship rules last year, reducing citizenship time to three years, benefiting large number of immigrants, including immigrant investors to apply for citizenship.
