View this email in your browser   |   December 16, 2014
In this issue
1. QIIP Quota System Confirmed; Intake Resumes in January


RCI eNewsletter

QIIP Quota System In Force, Intake Resumes in January

The Quebec Immigrant Investor Program (QIIP) will be subject to a quota allotted to each Financial Intermediary, and will be open for intake from January 19 until March 20, 2015, announced Quebec Immigration authorities.
The announcement was made on December 16 from the Quebec Ministry of Immigration, Diversity and Inclusion (MIDI), at a meeting held with the Financial Intermediaries in Montreal. The MIDI also confirmed the following:  
  • The intake will allow for 1,750 files worldwide, of which no more than 1,200 will be allowed from China
  • Each Financial Intermediary will receive a quota for Chinese files and for non-Chinese files;
  • All files will be received in Montreal. No submissions will be allowed in Hong Kong;
  • Only complete files will be accepted by MIDI. There will be no simplified application process;
  • MIDI will allow file submission by regular mail, courier, and in person;
  • Any file submitted beyond an IF’s allotted quota will be returned by MIDI;
  • There will be a new document checklist, new narrative writing guidelines and an updated application form, to be issued within the following days;
The quota numbers and intake method will be confirmed in a ministerial decree that will be published in the Quebec official Gazette on December 23rd.
What is the quota?
According to the announcement from MIDI, each Financial Intermediary will only be allowed to submit a limited amount of files for the upcoming intake. RCI will carefully select files to be submitted.
The final quota will be announced shortly.
What does this mean for my clients’ files?
If you have already begun submitting applications to RCI, please note that you may keep submitting files and we will continue to analyze them for submission as we have done in the last months.
If you wish to submit files for our review, please contact your RCI account manager for more information.
When should I submit my client’s application to RCI for review?
As soon as possible. RCI aims to perform thorough reviews on files before their submission. RCI highly recommends that you refer your files early, in order for us to complete our review and prepare for submission, if the file is deemed suitable. Do not wait until the January to contact us.
Who should submit my client’s application to MIDI?
All files will be submitted to MIDI in Montreal. No files will be accepted at the BIQ in Hong Kong.
To ensure orderly, compliant and timely file submissions, all files submitted with RCI as the Financial Intermediary will have to be submitted by RCI’s file submission service in Montreal. It is therefore recommended that you send your complete files as soon as we request them in order to facilitate this process.

We remind you that any file submitted through RCI will require that a fully scanned copy of the application be submitted to us as well.
What to do next?
Please contact your RCI account manager for further information on how to submit your application with RCI. Your RCI account manager will keep you informed of all the next steps.
When can I expect the new forms from MIDI?
In the coming days, MIDI will post its new forms on its website. Meanwhile, you can contact your RCI account manager for updates.
As usual, RCI is closely monitoring the situation. We will keep you informed as information is made available to us by the Ministry.
Best regards,

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

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Renaissance Capital Inc. · 1800 McGill College, Suite 2110 · Montreal, Qc H3A 3J6 · Canada

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