{"id":494,"date":"2016-04-26T16:22:35","date_gmt":"2016-04-26T16:22:35","guid":{"rendered":"http:\/\/globalresidenceindex.com\/?p=494"},"modified":"2022-09-28T04:39:44","modified_gmt":"2022-09-28T04:39:44","slug":"quebec-immigrant-investor-retention-problem-explained","status":"publish","type":"post","link":"https:\/\/globalresidenceindex.com\/quebec-immigrant-investor-retention-problem-explained\/","title":{"rendered":"The Quebec Immigrant Investor Retention Problem explained"},"content":{"rendered":"

The Quebec Immigrant Investor Retention Problem explained<\/h1>\n

\u201cLess than 25% of the Immigrant Investors who arrived from 2003 to 2012 are still present in Quebec.\u201d Since 2009, when the first study of the sort came out, there was uproar about the lack of effort made by the government to retain them in the province. No one knows what those numbers really mean, but everyone sees those numbers as cash and tries to explain the reasons why an immigrant investor would have to seek greener pastures outside the Belle Province.<\/p>\n

To correctly understand those numbers, they first need to be put into perspective.<\/h2>\n

Quebec has run its own program since 1984 \u2013 the federal program, which is supposed to cater to the rest of the country, followed suit. They both offer applicants the same thing; namely, Canadian Permanent Residency (PR). With PR, you are allowed to live anywhere in the country, and even if you promised to resettle in a specific province, no legal means exists to keep you there. So, basically, you could apply to the Quebec program and say you intend to settle in that province, but when you actually land in Canada you can resettle anywhere you wish in the country.<\/p>\n

Processing Time in months, from Hong Kong<\/strong><\/p>\n\n\n\n\n\n
CIIP<\/strong><\/td>\n2010<\/strong><\/td>\n2011<\/strong><\/td>\n2012<\/strong><\/td>\n2013<\/strong><\/td>\n2014<\/strong><\/td>\n2015<\/strong><\/td>\n<\/tr>\n
Federal<\/strong><\/td>\n31<\/td>\n37<\/td>\n43<\/td>\n52<\/td>\n60<\/td>\n56<\/td>\n<\/tr>\n
Quebec<\/strong><\/td>\n13<\/td>\n11<\/td>\n12<\/td>\n11<\/td>\n21<\/td>\n25<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

*50% of cases solved before X months<\/em><\/p>\n

Over the last 5 years, due to the Conservative vision of immigration and government expenses, the federal IIP lost its competitiveness compared to the Quebec program. First, it had 2 to 3 times the processing time (it could take up to 6 years to be processed in certain countries) and set a very low quota. Quebec used to process significantly more new applications than the federal government before the later was shut down.<\/p>\n

Application Received<\/strong><\/p>\n\n\n\n\n\n
CIIP<\/strong><\/td>\n2011<\/strong><\/td>\n2012<\/strong><\/td>\n2013<\/strong><\/td>\n2014<\/strong><\/td>\n2015<\/strong><\/td>\n<\/tr>\n
Federal<\/strong><\/td>\n2950<\/td>\n5<\/td>\n2<\/td>\n0<\/td>\n2<\/td>\n<\/tr>\n
Quebec<\/strong><\/td>\n1789<\/td>\n1882<\/td>\n2233<\/td>\n1751<\/td>\n1022<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Application Approved<\/strong><\/p>\n\n\n\n\n\n
CIIP<\/strong><\/td>\n2010<\/strong><\/td>\n2011<\/strong><\/td>\n2012<\/strong><\/td>\n2013<\/strong><\/td>\n2014<\/strong><\/td>\n2015<\/strong><\/td>\n<\/tr>\n
Federal<\/strong><\/td>\n1,558<\/td>\n1404<\/td>\n976<\/td>\n1,215<\/td>\n683<\/td>\n52<\/td>\n<\/tr>\n
Quebec<\/strong><\/td>\n1,544<\/td>\n1789<\/td>\n1408<\/td>\n1048<\/td>\n1731<\/td>\n1166<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

In the past few years, only the Quebec IIP has been approving new application from investors (the new federal pilot program hasn\u2019t of yet).\u00a0 What this means is that most immigrant investors settling in Canada originally applied to the Quebec program. You can say that the QIIP, during these years, has approved 68% more applicants than the FIIP.<\/p>\n

\"Immigrant<\/a>

Canada Immigrant Investor by intended province 2005 to 2015<\/p><\/div>\n

<\/a>Let\u2019s make up some credible numbers and say that 90% of all immigrant investors settle in Toronto, Vancouver and Montreal. The number shows that prior to the FIIP shutting down, 2010 being considered the last year to take concrete data from, the data would approximatively read Vancouver (50%), Toronto (30%) and Montreal (20%).<\/p>\n

We can only speculate what the real data would be in 2016, as our current data are corrupted, but in my personal opinion it would be:\u00a0 Toronto (45%), Vancouver (33%), Montreal (22%).<\/p>\n

Now, if you\u2019re a Chinese investor and you want to relocate to Canada, would you:<\/p>\n