The federal government is not about to challenge Quebec over its immigration programs, despite British Columbia's claim its economy is hurt by the French-speaking province's system.
The Quebec Immigrant Investor Program (QIIP), currently open to applications, is the source of B.C.'s frustration.
Evidence suggests the vast majority of the mainly-Chinese nationals given visas through the scheme end up settling in the West Coast province.
But Immigration Minister John McCallum says that's not about to change, adding that he's happy with the relationship the federal government has with Quebec.
He also said it would be against Canada's constitution to try and make investors settle in a specific province.
Once they have permanent residence status, they are free to move to any part of the country.
Under QIIP, high net worth applicants are given permanent residency in return for an investment of $800,000, provided a number of criteria are met.
QIIP Requirements
- Legally acquired personal net worth of at least $1.6 million;
- Owned and operated a business or held a high level management position in a private company, government or NGO for two of the previous five years;
- Invest $800,000 in a passive government guaranteed investment for a period of five years and receive no interest. Applicants may finance their investment and liquidate only $180,000 to $220,000 into a government approved financing program for five years and receive no return of capital.
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