Canadian Immigrant Investor Program (discontinued)
Looking to apply for Canadian residency by investment? The bad news is that the Canadian Immigrant Investor Program (CIIP) has been discontinued. Fortunately for foreign investors, the programme has been replaced by the QIIP residency program in Quebec. Find out more about your Canadian investment immigration options below, or contact us now for a free consultation.
About the CIIP
Established by the Canadian Federal Government during 1986, Canada’s federal Immigrant Investor Program sought to attract high net worth foreigner investors and business professionals. Under the program, successful applicants, their spouses and dependent children could obtain permanent residency status in Canada, and could also become eligible to apply for Canadian Citizenship By Investment, provided that their residency status had been maintained and various statutory requirements having been met.
Upon launch, the program required migrant investors to make an interest free loan to the Canadian government for a minimum period of 5 years. Despite the relatively high entry amount, the programme proved to be exceedingly popular, among Chinese investors, in particular.
The programme was shuttered in 2014 due to a combination of increasing nationalistic pressures, bad fraud related press and a misalignment with the government’s strategic policy goals. The programme has also been accused of contributing to a decline in housing affordability in Vancouver. Upon program termination, pending applications were cancelled as well.
The federal program was replaced by the Quebec Investor Program 2019 (QCIIP or QIIP, for short), which remained very popular as an entry point into Canada for wealthy foreigners. During 2013, for example, the QIIP received over 5,300 applications.
With a view to reduce the overall migration of foreigners to Quebec, the government has limited the annual intake to 1,900 applications only.
Investments from CAD 1.2m excluding fees. Slots limited to 570 per year. Contact us now.