Quebec Aims to Revamp Quebec Immigrant Investor Program (QIIP) Through Several New Measures
Quebec announced a string of restructuring measures to overhaul its economic immigration programs, including the Quebec Immigrant Investor Program (QIIP)
Quebec has autonomy over its immigration programs. The recent announcement to revamp its economic immigration programs will also impact the popular pathway of the Quebec Immigrant Investor Program. Here are key takeaways of the new reforms affecting economic immigrants.
French language proficiency
The French language is vital to Quebec’s cultural foundation. The ability to speak, write, listen, and read French is a sensitive issue as the number of Francophone immigrants declines steadily. Quebec plans to achieve total Francophone immigration by 2026. The Quebec Immigrant Investor Program will mandate a score of 7 on French language competency.
Compulsory residency period
Applicants for the Quebec Immigrant Investor program must live in Quebec for 12 months ad temporary residents. The residency requirement aims to ensure applicants have stronger roots within the province when they become permanent residents through QIIP.
Removal of the selection grid
Quebec plans to eliminate the points-based system of the selection grid to adopt a more holistic approach to selecting applicants. The new selection factors will assess the applicant’s eligibility for economic immigration.
Reforms in investment requirements
The new measure requires the applicant to invest $1 million for five years besides contributing $200,000 to Investment Quebec as the non-reimbursable amount.
Bottom-line
Quebec anticipates a reduction in the number of applicants and aims to welcome about 200 new immigrants through the Quebec Immigrant Investor Program annually. The Quebec government hopes to improve transparency in financial transactions by streamlining the process.
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