Canadian immigration consultant Marwa Badra explains the Quebec Investor Immigration Program. Watch the video and read the transcript below.
Q: Talking once again with Marwa Badra, Immigration Consultant at Pace Immigration. You can find her at paceimmigration.com. Today, we’re going to be talking about the Quebec Investor Immigration Program. Marwa, describe the program for us. Who is it for, and what does it do?
Marwa Badra: The program basically for business persons or senior managers who would like to obtain permanent residency in Canada, through a passive investment program. I find the program more attractive for people who do not wish to invest in their own business or have any conditions placed on their permanent residency. So basically, the program is that you invest with the government of Quebec.
MB: But in order to qualify for the program, you must have a personal net worth of at least $1.6 million, and unlike other provincial programs, you can include business assets. So cash, properties, business assets, stocks and so on. And it’s a combined household assets of $1.6 million. So, the husband and wife together. Once the application is approved and accepted by the government of Quebec, the applicant will have to invest with the government $800,000 for five years. That is refundable after five years, but no interest.
Q: So, you have to have $1.6 million assets, and then $800,000, if you are accepted, will have to be invested with the government for five years.
MB: That’s right.
Q: And at the end of that five years, you get the $800,000 back.
MB: You get your money back.
Q: It’s not a bad deal.
MB: With no interest. It’s not a bad deal. But also the government offers the finance option, where the person can use a Canadian bank to finance the $800,000 and the applicant pays the interest to the bank. And the interest, it depends on the rate at the time of the investment. But it can range between $200,000 to $220,000. So, you make the choice at the time of payment, either pay the $800,000 for five years and you get it back, or you just put one-time payment of 220 and just kiss your money goodbye.
Q: Okay. Now, let’s talk about language requirements. When we say Quebec, people automatically think French. How does that work?
MB: Actually, the good thing about the Quebec program, no age requirements, no language requirements.
Q: Oh, really? Okay.
MB: Just management experience, it’s the most important thing. You have to show that you have management experience, recent experience within the past five years, at least two years of senior management and the net worth is legally obtained.
Q: Caps on how many people can apply per year, anything like that, how does it work?
MB: The Quebec program was actually closed for a few months and the government just announced that they’ve reopened again on the 31st of July. They will start accepting new applications. And they set a cap of 2,000 applicants. The time is of the essence here. If somebody is interested in the program, they have to put their application in as soon as possible. We have to file it because I expect… Although it’s 2,000 cap, but I expect the program to close in maybe a week’s time.
Q: That fast.
MB: That fast.
Q: Wow. Okay. So, contact details for you, how can they get a hold of you?
MB: Just call me, 416-673-4897 or email email@example.com.
Q: Excellent. There you go, Marwa Badra, Immigration Consultant at Pace Immigration. Be sure to contact her and we will talk to you about other programs at a later time. Bye-bye.