The Province of Quebec has added two more years to the suspension of the popular Quebec Immigrant Investor Program

The Ministry of Immigration, Francisation and Integration (MIFI) announced the news on Wednesday March 31, 2021. The program will not reopen before April 1, 2023.

“This period will allow the MIFI to finalize the current revision work, in order to implement a renewed program that better corresponds to the government’s objectives in terms of integration and francization of immigrants,” a statement said.

Applications that have been submitted and are awaiting review will continue to be processed, the statement said.

Originally, the this program was scheduled to reopen on April 1, 2021.It has been suspended since November 1, 2019.

Under the Quebec Immigrant Investor Program, individuals are not required to establish or actively manage a business in the province.

Requirements are:

  1. Personal net worth of $2 million
  2. Two years of suitable management or business experience within the five years.
  3. Investment of $1.2 million into a passive government guaranteed investment for a period of five years bearing no interest;
  4. Intend to settle in the province of Quebec.

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