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IMPACT – MEDIUM
What is the change? The Government of Quebec has announced changes to the Quebec Immigrant Investor Program (QIIP).
What does the change mean? Going forward, applicants will be required to (1) have net assets totaling at least CAD 2 million (up from the previous threshold of CAD 1.6 million) and (2) make an investment of at least CAD $1.2 million (up from CAD $800,000) in order to qualify for the program. QIID is not accepting applications at this time, but is expected to open a new application period in August of 2018, when the new requirements will take effect.
BAL Analysis: While the changes raise the bar on who will be eligible for the Quebec Immigrant Investor Program, they may also make the program less competitive for applicants who are able to meet the new requirements. BAL will continue to follow the program, including any announcements of the next intake period and how many applications provincial authorities will accept.
This alert has been provided by the BAL Global Practice group and our network provider located in Canada. For additional information, please contact your BAL attorney.
Copyright © 2018 Berry Appleman & Leiden LLP. All rights reserved. Reprinting or digital redistribution to the public is permitted only with the express written permission of Berry Appleman & Leiden LLP. For inquiries please contact copyright@bal.com.
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