A brief, recently submitted to the Quebec National Assembly Committee on Citizen Relations by economists Pierre Fortin and Pierre Emmanuel Paradis, has recommended changes to the Quebec immigration program that would call for a dramatic increase in the number of immigrant investors entering the province. The Committee on Citizen Relations is in the process of planning the Quebec immigration program for the 2012-2015 period.
The document outlines a number of recommendations designed to ensure that Quebec will continue to benefit from the admission of well-qualified investors ready to contribute to Quebec. As immigrant investors only account for 3.5% of new immigrants, the brief concludes that greatly increasing the number of investors would not upset the other priorities of the Quebec immigration program. It also recommends undertaking steps to ensure that the backlog of applications is managed more effectively, as shorter waiting times create an increase in the quality and number of applications received. Finally the brief calls for the Quebec government to continue to expand the existing integration and mentoring programs available to immigrant investors
Under the Quebec immigration program investor category, individuals are selected based on high net worth (a minimum of 1.6 million) and relevant business management experience. These requirements are designed to ensure that the investors entering the province will have a positive impact on Quebec and it’s economy. The recommendations are based on findings that Canadian immigrants, brought in under the Quebec immigration program investor category, are in fact of great benefit to both Quebec society and the Quebec economy.
In the 2001-2011period, financial contributions from Quebec immigrant investors totalled over 500 million, an amount which served to benefit over 3,000 companies in Quebec. Between 2009 and 2010 over 2,600 jobs were created by immigrant investors, while over 1,300 jobs were maintained as a result of investments made by Quebec investors. By creating jobs, managing businesses, and ensuring a fresh stream of innovation, immigrant investors play a key role in ensuring economic growth in Quebec. Their support of the province’s infrastructure through Canadian immigration will be an asset for some time to come.
For more information about immigrating to Canada, contact FWCanada – Canadian Immigration Law Firm