March 31st 2021 – The Minister of Immigration, Francization and Integration, Madam Nadine Girault, announced that the suspension of Quebec Immigrant Investor Program (“QIIP”) will be extended for a period that could end on April 1st 2023.
QIIP was first suspended on November 1st 2019, expressing the government’s desire to revamp the QIIP. A section of the ministerial order mentioning that the suspension can be modified at any time during this period gives hope that the Quebec government may come with a revamped QIIP before 2023.
The Quebec Investor Program was established in 1986 and successfully attracted thousands of investors on a yearly basis. According the latest conditions of QIIP, the applicants were qualified if they could demonstrate having a 2 million CAD net worth obtained legally, at least two years of management experience and agree to make a 1.2 million CAD investment for a period of five years. Most of the immigrant investors were selected from China (Mainland, Hong Kong and Taiwan), Iran, Bangladesh and Vietnam.