Quebec Business Investor Program To Be Revived?

The Provincial Government of Quebec has not released an official statement about the reopening of its investor program, but many already believe the news is true. It is said that application intake will resume on August 1 this year (2013), but there will be a limit in terms of the number of applications to be received.

Quebec business investors immigrant programTo qualify for the program, applicants must prove they have a net worth of at least CAD $1.6 million on their own or combined with their spouse’ or common-law partner’s. They also need a minimum of two years of managerial experience, not necessarily in an industrial or commercial enterprise, acquired within the last five years.

On top of that, successful applicants have to put CAD $800,000 into a corporation controlled by the government via a financial institution that is also government-approved. Such investment will be valid for five years and will have a zero return rate. Since the provincial government of Quebec vouches for capital repayment, it is optional for applicants to finance the investment.

Once applicants complete and pass a medical and security check, they will automatically obtain Canadian Permanent Resident status. They have to reside in Canada continuously for a period of three years to become citizens and eligible to use a Canadian passport.

No similar program has been available for at least a year, and this appears to have strengthened the demand for such an immigration vehicle. Because there is a cap in the number of applications to be received, it is best for those who are interested to begin preparing their documents and filling out the required forms as early as possible.

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