Quebec Entrepreneurship Program
Quebec Immigration Investor Program (QIIP) is the second largest program of its kind in North America after the US EB-5. An often overlooked but noteworthy and convenient outcome for the business immigrants moving to Canada is the ability to distribute the profits of their foreign business in a tax-efficient or sometimes in a tax free manner. In most cases, with proper planning, there can be noticeable tax benefit in immigrating to Canada.
To apply to this program, applicants must fulfill these conditions:
- A legitimately acquired personal net worth of at least 1.6 million Canadian Dollars;
- A minimum of two years senior managerial experience in the past five years in a government body, private enterprise, eligible partnership or NGO;
- To make an interest free investment of CAD $800,000.00 for a period of five years in a prescribed (government guaranteed) investment.
- The intention to settle in Quebec;
- Application processing fee of CAD $15,000.
Applications must be complete with all the necessary documents and information during the time of submission. Quebec refuses the applications that are incomplete or inconsistent with their requirements.
Quebec immigration authorities are now accepting new applications under QIIP for a very limited period between May 30th 2016 and February 28th 2017.
So, if you are thinking of applying you should start immediately.