Who is it for?
High net worth individuals wishing to make a passive investment in the province of Quebec.
How does it work?
Under revised program regulations introduced in 2018, applicants make a five-year term investment of CAD $1,200,000 with a subsidiary of Investissement Québec for which the foreign national has entered into an investment agreement with a financial intermediary authorized to participate in the program.
The investment agreement is one of the documents to be submitted with the Application for a Certificat de selection du Québec (CSQ), which must be obtained before the applicant and his or her accompanying family members, if applicable, may apply for immigration to Canada.
What’s the advantage?
The passive investment is guaranteed by the government of Quebec, and brokers and trust companies offer the possibility of financing the investment.
How much does it cost?
Fees levied by the government of Quebec amount to $15,763 for the principal applicant. This fee covers the entire file, with no further fees payable to Quebec for any accompanying family members.
Once a CSQ has been obtained and the applicant can apply to the government of Canada for permanent residence, federal application fees amount to a processing fee of $1,575 and a right of permanent residence fee of $500 ($2,075 total), plus $1,325 for an accompanying spouse or partner (divided into a processing fee of $825 and a right of permanent residence fee of $500) and $225 for each accompanying child.
How long does it take?
IRCC lists the federal processing time at 54 months. This does not include the time it takes the government of Quebec to process the initial application.
The program is typically quite popular, and quotas generally fill quickly. Note that knowledge of French is not a requirement for this program.
Where can I learn more?
The government of Quebec provides further details.