September 15, 2011
NEWSLETTER

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QUEBEC IMMIGRANT INVESTOR PROGRAM

The MICC held a meeting on the 14th of September that was attended by the financial intermediaries involved in the investor program. This is a brief summary of the meeting:

Moratorium:
The MICC confirmed that there was no immediate moratorium or suspension of the Quebec Immigrant Investor Program. So far, it seems like they will be able to handle the additional volume of files that were submitted in the last few months. However, we insist that our partners only  keep submitting complete files of quality applicants. In the current context, there is no need to rush the preparation of the files.

MICC statistics until August 2011:
The statistics covering the period January to August 2011 were presented by the MICC. The following are the figures that might be of interest to our partners:

  • 2,370 files were opened so far in 2011. Among those files  1,862 came from Asia, 423 from the Middle-East and 85 from other territories. For the same period in 2010, the MICC had opened almost twice as many files (4,522).

  • The MICC currently has an inventory of 11,906 files. The large majority of this inventory (approx. 70%) are files  waiting to be analyzed. Out of this inventory, Hong Kong has 9,351 files, Damascus 2,226 files and other territories represent 329 files.

  • The MICC has a global acceptance rate of 62% for the 800,000$ files and 72% for the 400,000 files. The acceptance rates for Asian files are 59% for 800,000 files and 68% for 400,000 files; Middle East: 64% for 800,000$ and 83% for 400,000$; Other territories: 73% for 800,000$ and 82% for 400,000$. More than 33% of those acceptances came by way of a "waiver" and approximately 66% were accepted after a selection interview.

Please do not hesitate to contact us to use our legal services to help you in preparing a complete and successful file.

IAS the team you can always count on!

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