In order to be able to obtain a Canadian citizenship through investment, applicants will have to apply to the Quebec Immigrant Investor Program (QIIP). Applicants interested can only apply through Quebec, as it is the only province that does the program. However, once the investor has obtained their citizenship, they are allowed to live, work, study and invest anywhere in Canada.
The QIIP last application dates were from 29 May 2017 to 23 February 2018. Although from 10 September 2018 the program planned to accept a maximum of 1900 applications and extend the closing date from 31 March 2019 to 31 August 2019.
For the 2019/20 program, applicants should start preparing and start applying approximately around August 2019, which is when they expect the program to reopen. However, the program is said to allow 660 applicants per year.
However, if applicants believe that they qualify for the basic requirements and that they agree to the to the mandatory financial contribution (in Canadian Dollars or equivalent in foreign currency), they should contact at the Quebec Program to discuss their options.
To qualify and obtain a Canada Investor visa in 2019/20, the requirements are as follows:
- Applicants (and spouse) have to show a minimum of $2,000,000 in Personal Net Worth.
- Applicant must be a current shareholder of a private company at least 2 yearsor have been one for at least 2 years out of the last 5 years.
- If the applicant does not own a company or did not previously own one, they must have at least 2 years of Management Experienceas a paid employee in an admissible company.
- The applicant must take the Financing Option – making a one time non-refundable financial contribution of $350,000 (including all Government fees); ordeposit $1,200,000 for a period of five years and 6 months and receive no interest on the deposit, but assume many related costs.