Quebec has moved to extend the suspension of the Quebec Immigrant Investor Program while it finalizes important changes.

The Ministry of Immigration, Francisation and Integration (MIFI) announced the extended suspension on Wednesday March 31, 2021.

"This period will allow the MIFI to finalize the current revision work, in order to implement a renewed program that better corresponds to the government's objectives in terms of integration and francization of immigrants," a statement said. The Ministry plans to add a large security deposit that is intended to ensure investors live in Quebec.

Applications that have been submitted and are awaiting review will continue to be processed, the statement said.

Originally, the QIIP was scheduled to reopen on April 1, 2021. It has been suspended since November 1, 2019.

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The content of this article reflects the personal insight of Attorney Colin Singer and needs no disclaimer