Only 10% of Quebec IIP millionaire investors live in Quebec

Quebec’s program remains the world’s oldest, easiest and most generous immigrant investor program in the world.

But only 10% of the 58,000 people who used the program, and remain in Canada, live in the province. Half of Quebec’s investor immigrants who remain in Canada (many just return to their homeland, with their second passport safely in hand) have set up in the Vancouver region, with most of the rest in Greater Toronto, Vancouver sun reports.

In reality the province does not get immigrants but only cash, the Vancouver sun reports. Immigration is critical to Canada’s economic growth. With an aging population and lower childbirth rate, Canada is relying more and more on immigrants to help fill labour and talent shortages in communities across the country.  Canadian government wants 310,000 immigrants in 2018, and 340,000 a year by 2020 to meet the demand.

About roughly 5,000 migrants a year  exploit Quebec’s program immediately move to Metro Vancouver and Toronto, causing the housing prices to soar.

The new premier of Quebec Francois Legault won a majority on Oct. 1 has promised to reduce immigration to his province by 20 per cent, require newcomers to learn French in three years

The Canada Quebec investor program introduced new changes this year, increasing the investment amount to $1.2m with maximum number of 1900 application intake for 2019. A maximum of 1,235 applications from foreign nationals from the People’s Republic of China, including the administrative regions of Hong Kong and Macao

Investor candidates who demonstrate, by submitting results of a test recognized by the Ministère, that they have advanced intermediate proficiency in French are not subject to the maximum number of applications and can submit their application at any time. These applications will be given priority processing.

Canada introduced new amendments in citizenship act through Bill C‑6 came into effect on October 11, 2017 cutting the number of years from five years to just three years.

By the end of October 2018, an estimated 152,000 people will have obtained Canadian citizenship since the changes came into effect. This is an increase of 40%, compared to the 108,000 people who obtained citizenship from the same period the year before. Bill C‑6 has allowed more permanent residents to apply for citizenship. In the 9‑month period from October 2017 to June 2018, Immigration, Refugees and Citizenship Canada received 242,680 applications, more than double the 102,261 applications that were received in the same period the year before. Despite the increase in applications, processing times for routine citizenship applications remain under 12 months.

Over the last 10 years, nearly 1.7 million people have become Canadian citizens, and their contributions to our communities are significant.

Canada has also welcome 170,000 new comers for permanent residency through express entry system.