A significant number of pending applications, has led to the suspension of quebec immigrant investor scheme until Jul 2020. The suspension is temporary and likely to last about 8 eight months before a new window opens.
As many as 20,000 wealthy investors are waiting for permanent residence in Canada after receiving Quebec selection certificate, according to LaPresse.ca . At this rate it would take Government six years to clear the backlog
The Quebec Immigrant Investor Program (QIIP) is the most popular immigration investor schemes in the world, and Quebec is the only province in Canada that has only actively running IIP scheme.
The Quebec immigrant investor scheme requires investment of C$1.2m in risk free government bonds to obtain permanent residence in Canada. This scheme is subjected to a quota of 1900 applications annually and some 1200 of those go to chinese.
The Quebec IIP processing times are generally 9 to 12 months to receive a Quebec Selection Certificate (CSQ) after approval. This also depends on volume of selection applications received from various countries and territories. There is another 18 to 30 months to receive permanent resident visa.
While the scheme is only temporarily suspended, those candidates who have already got selection certificate, can continue to seek permanent residence in Canada.
The french speaking province of Quebec welcomes francophone immigrants Francophone applications are not subjected to quotas and are given priority processing.
More than 50% of the applicants in Quebec are Chinese investors. Canada for ages has been a prime destination for HNW families. These pull factors such as safety, stable political climate, best education, excellent healthcare and ease of doing business attract number of wealthy families from Asia towards Canada.
The Canadian citizenship after three years also attracts number of immigrant investors to Quebec.
