Quebec suspends immigrant investor program until July 2020

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The Quebec Immigrant Investor Program, which allows investors to obtain Canadian permanent residence with a $1.2 million investment, has been suspended until July 1, 2020.

The suspension takes effect Friday, November 1, 2019.
Quebec’s Immigration Minister, Simon Jolin-Barrette, attributed the suspension to the fact nearly 20,000 applications for permanent residence through the Quebec Immigrant Investor Program have yet to be processed.
The minister said his department will use the suspension period to review the program, which has been controversial.
Critics say it allows wealthy individuals to effectively purchase Canadian permanent residence and citizenship while supporters say it helps fund essential programs in Quebec.
To participate in the Quebec Immigrant Investor Program, individuals invest $1.2 million, which is returned interest-free after five years.
In order to be eligible, investors need at least $2,000,000 in legally acquired net worth and a minimum of two years of management experience within the past five years, among other criteria.


New quotas for Entrepreneur, Self-Employed Worker programs announced
Quebec also announced new quotas for its Entrepreneur and Self-Employed Worker programs for those who do not have a high level of French. There is no quota for those who can demonstrate an advanced intermediate level of oral French expression and comprehension.
The province will accept 25 applications under Stream One of its Entrepreneur Program, and 35 from Stream Two between November 1, 2019, and September 30, 2020.
Quebec’s Self-employed Worker Program will also accept 50 applications between November 1, 2019, and September 30, 2020.

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