Quebec will not grant permanent residency for investment
The program was supposed to start accepting applications this year, but it didn't happen.
Quebec has once again postponed the opening of applications for the Immigrant Investor program, which used to allow those who wanted to invest in the province to move.
Acceptance of applications for this program was suspended on November 1, 2019. Since then, the resumption of admission has been continuously postponed. The previous time, the opening of the stream was postponed until April 1, 2023. Now, the Quebec Ministry of Immigration has pushed back the deadline to January 1, 2024.
According to the ministry, the decision was made to review the immigration program, improving and aligning it with other programs of the province. This is to create a program that will meet the needs and goals of the province in terms of integrating immigrants and teaching them French.
Some applications for the Immigrant Investor program are still pending and will continue to be processed.
Previously, the program allowed candidates to immigrate to Quebec if they had a capital of at least CAD 2 million and were prepared to invest at least CAD 1.2 million for 5 years in the Quebec economy. After 5 years, the amount is refundable.
There are other programs in Canada for investors and entrepreneurs. If you are interested in business immigration, seek help from our licensed professionals.
