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Immigration alert: Dates revealed for new Canadian programme

By Majorie van Leijen

The intake dates of the new Investor’s Programme of the Canadian province Quebec have been announced. Applications will be accepted from January 5 to January 30, 2015.

Traditionally, the intake for the highly popular and only Canadian Investor’s programme takes place in fall, the last intake round being rounded up in October 2013.

With anticipation of a round of intake taking place from September 8-19 this year, investors will have to hold their horses a little longer.

More importantly, significant changes are expected to be made to the programme.

Currently the Quebec Government accepts a limited number of applications during short interval periods. The number of applications to be accepted has been capped at 1,750 for years.

An applicant must have, alone or with his accompanying spouse, a net asset worth of at least CAD1.6 million.

An agreement must be signed to invest CAD800,000 with a financial intermediary authorised to participate in the Investor Program, and the applicant must have management experience in a legal farming, commercial or industrial business, or in a legal professional business.

The application procedure is likely to be changed for the upcoming programme, Armand Arton, president and CEO, Arton Capital told this website earlier.

The selection of applicants will be preceded by a pre-selection, executed by a limited number of financial intermediates around the world, he explained.

“The government of Quebec has decided to cancel the ‘lucky draw’ as selection process of the target of 1,750 application worldwide and will introduce a quota per financial Intermediary.”

“Each of the intermediates will be allocated a quota of applications that [they] will be able to submit. It will be up to [the intermediaries] to select only the best applications and submit them to the Quebec Government,” he said in July.

Announcements regarding the changes to the Investor Programme can be made any time, and interested investors are advised to keep eyes and ear open and be prepared for the application round in January.