September 23, 2018 – It will cost a candidate $1.2 million to immigrate to Canada through the Quebec Immigrant Investor Program (QIIP).
Quebec's immigration authority (MIDI) increased the threshold for the current application window. Previously it was $800,000.
It is a passive, government-guaranteed investment for a period of five years bearing no interest. The investment is returned after five years. The Quebec government keeps the interest accrued.
The Quebec Investor program permits applicants to finance the bulk of their investment through designated financial intermediaries. Typically, the financing schemes require payment of $350,000 before the intermediary loans the balance of $850,000 to meet the required $1.2 million investment. The government approved financial intermediary then deposits the entire sum with Investissement Québec. The down payment is not refunded at the end of the five-year period. The bank takes fees and interest from the down payment, the immigration agent receives commissions from the down payment. The net cost to the investor is the down payment.
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The content of this article reflects the personal insight of Attorney Colin Singer and needs no disclaimer