Quebec reopens the Immigrant Investor Program on August 1,2013

We wanted to wait for the outcome of the vote on Bill 25 before announcing the upcoming changes to the QCIIP. The bill, which was approved in the parliament on Friday June 14th, gives the Minister the power to make a decision on the approval or processing of Selection Certificates, for a given period of time. One such decision is expected to be announced by an official decree by the Minister this week, which may implement application quotas per category, country or region, as well as introduce changes in the way the files are handled.

It has been confirmed that the QCIIP will reopen on August 1st, 2013 with the following conditions:

• CA $800,000 investment requirement
• CA $1,600,000 net worth requirement
• 2,000 files quota with a 70% maximum per country (to be confirmed this week)
• CA $10,000 application processing fees
• Files will be submitted to both BIQ-Hong Kong and BIQ-Montreal, as per usual procedures.

We will inform you as soon as the decree has become official. In the meantime, we invite you to contact us to obtain the procedural changes to be implemented by the MICC on June 17th, 2013.