View this email in your browser   |   September 10, 2014
In this issue
1. Quota Announcements in October

2. New RCI Procedures Coming Soon

3. French Speaking Applicants




 

RCI eNewsletter

QIIP Quota Announcements in October

The quotas alloted to each Financial Intermediary for the upcoming QIIP intake - scheduled from January 5th until January 30th - will only be announced around mid-October.

While confirming yet again that a there will be an intake limit of 1,750 applications worldwide, of which no more than 1,200 applications will be allowed from the People’s Republic of China (including the Special Administrative Regions of Hong Kong and Macao), the Quebec MIDI has announced that the sub-quotas alloted to each Financial Intermediary will be announced only following a Ministerial decree scheduled to be issued approximately one month from today.

Following the decree, the MIDI will further announce a new official document checklist that will be applicable to the upcoming intake. While information regarding the new checklist is currently unavailable, it is expected that MIDI will require additional documentation from applicants, namely regarding credit card debts. RCI's complete file assessments will take into consideration these projected developments.
 
 

New RCI Procedures Coming Soon


What to do next?

 
RCI will soon announce its intake management plan, along with resources and guidelines to assist our agents in recruiting the right clients and preparing their files according to the Ministry’s standards. The procedures will include an online evaluation questionnaire, to be provided to us for initial preliminary assessments. This will prove a valuable tool to filter clients appropriately and will provide us with a clear first impression of a file's potential before engaging into further procedures. The questionnaire will be made available online within the next few weeks, on RCI's new upcoming website. An RCI eNewsletter announcement will be issued to inform you of the questionnaire's availability.

RCI will pay close attention to the quality of each file before submitting it to the Ministry under its quota, and will aim for a 100% passing rate of its files. To ensure a smooth collaboration, we again encourage you to do the following:
 
 
  • Filter Potential Clients: Be careful in the recruitment of clients, and select only those with clear and well documented source of funds (official documentation and proof of tax payment will be extremely important);
  • Preliminary Assessments: Provide us with a preliminary profile of your client for a first step assessment before engaging too much time and resources in file preparation;
  • Do not wait for too long: once announced, the quotas are expected to be subject to very high demand. If you have a quality file, communicate with us early on for preliminary assessments. The file review process will take longer than before;
  • Upcoming RCI Toolbox: RCI will soon issue a number of tools to assess applicant quality, as well as to help staff in preparing files in a suitable way. This will include an upcoming online Questionnaire on RCI's upcoming new website for preliminary file assessments. Please ensure to circulate such upcoming tools. Come visit us soon!
 

French-speaking applicants

 
As already mentionned, French speaking candidates are exempted from the global quotas applicable to the QIIP, and may submit their applications at any time during the year. Such files will receive a priority treatment by MICC. In order to qualify for this exemption, a QIIP candidate must demonstrate an upper intermediate (B2) level in spoken French. RCI strongly encourages agents who are able to recruit such applicants to do so as soon as possible, in order for candidates to take the appropriate language tests now for early submission.
                                       
Standardized tests that are accepted by MICC to support French upper intermediate proficiency are the following:
 
  • Test de connaissance du français pour le Québec (TCFQ)
  • Test de connaissance de français (TCF)
  • Test d’évaluation du français adapté pour le Québec (TEFAQ)
  • Test d’évaluation du français (TEF)
  • Diplôme d’études en langue française (DELF)
  • Diplôme approfondi de langue française (DALF)
  
Information for the TCFQ, TCF, DELF and DALF is available here.

Information for the TEFAQ and TEF is available here.

For any additional information, please do not hesitate to contact your RCI Account Manager.
 
Best regards,

The RCI Team
Copyright © 2014 Renaissance Capital Inc., All rights reserved.



mseguin@rcican.com
www.rcican.com


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