Quebec’s new minority government, led by Parti Québécois (PQ) leader Paul St‑Pierre Plamondon, has pledged a moratorium on permanent immigration from abroad and a cap on annual economic admissions. The plan directly affects the province’s Quebec Immigrant Investor Program (QIIP), which was reopened on 1 January 2024 after a four‑year suspension.
Election outcome and policy framework
- The PQ won the 5 October provincial election with 59 of the 127 seats in the National Assembly, forming a minority government.
- The outgoing Coalition Avenir Québec (CAQ) lost every seat it previously held.
- Under the PQ’s immigration platform, all economic immigrants granted permanent residence must first be temporary residents already living in Quebec.
- The moratorium will remain in effect until temporary immigration is reduced by 50 %.
- Permanent admissions are to be capped at 35,000 per year.
- By comparison, the CAQ’s 2026 plan targeted 45,000 permanent admissions (about 64 % economic immigrants) plus up to 124,200 temporary workers and international students.
- Quebec selects most of its economic immigrants through a 1991 agreement with the federal government, giving the province control over the pipeline.
Because the PQ holds a minority, it will need support from other parties to pass legislation, and the leader acknowledged on election night that voters expect the PQ to work with rivals.
Quebec Immigrant Investor Program (QIIP) details
- Reopened: 1 January 2024 after a four‑year suspension.
- Financial requirements:
- C$1 million (≈ US$720 000) placed in a five‑year, government‑guaranteed investment via an authorized financial intermediary.
- Non‑refundable contribution of C$200 000.
- Applicants must hold net assets of at least C$2 million.
- Language requirement: French proficiency at level 7 on Quebec’s scale.
- Residency pathway: Successful applicants receive a three‑year work permit; the investor and spouse must together spend 12 months in Quebec during the first two years, with the investor personally present for at least six months. Permanent residence is granted only after this period.
Because QIIP participants already reside in Quebec as temporary workers, they fall within the pool the PQ intends to use for future economic immigration. The party’s platform, however, does not specify whether the temporary‑immigration cut will apply to investor work permits.
Industry perspective
Patrick McCarthy, Director of the QIIP at Sherbrooke Street Capital (an authorized intermediary), noted:
- The program has contributed to the provincial economy for decades, enabling small and medium‑sized businesses to expand manufacturing, increase exports, and create jobs.
- The PQ’s “pro‑business, economy‑first” stance could make the QIIP a valuable lever for the new government.
- Quebec’s passive investor program is unique in Canada: the federal investor stream was closed in 2014, and other provinces require applicants to operate a business rather than make a passive investment.
McCarthy expects the PQ may protect and further develop the QIIP, given its economic benefits and lack of direct cost to taxpayers.
Source article: www.imidaily.com
