The Quebec government's decision to delay the opening of the Quebec Immigrant Investor Program until at least April 2021, signals a significant change in direction for the province, and for Canada's business immigration landscape. As Canada's only passive investment immigration program, the Quebec Investor allows candidates with a net worth in excess of $2 million to invest $1.2 million over five years in exchange for permanent residence. Their investment is then returned, with the Quebec government keeping the interest. Since 2001, the QIIP has drawn investment into Quebec of approaching $1 billion, allocated to more than 5,000 businesses in the province, making it clear why the provincial government has stuck with the controversial immigration pathway. Even after the federal version of the program was cancelled in 2014, the Quebec Investor remained, gaining in popularity as the only passive investment route to Canada.
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The content of this article reflects the personal insight of Attorney Colin Singer and needs no disclaimer