Country's leading Immigration Consultants, Lalani and Associates on Friday, reported that the Government of Québec announced that due to the enormous volume of files received since the closing of the Federal Programme under current programme and due to the fact that the effective date of the new programme as announced by the Government of Canada this summer remains unknown, it is forced to stop accepting files under the current programme.
Québec files under the current regulations was supposed to be accepted until October 15, at noon (12:00pm) or reaching a total number of 500 files starting October 12,2010, whichever comes first. The same deadline applies for files submitted to Hong Kong and files submitted to Montréal: 12 pm HKT (Thursday midnight Montréal time) and 12 pm EDT. Files have to be received by the respective BIQ by that date; the postmark date will not be considered. Applications will be stamped for proof of submission. Those submitting files in person will be admitted until 12 pm, doors will be closed thereafter.
Sikander Lalani, CEO Lalani & Associates further said that, on October 13, the Québec Government announced that the limit of 500 files has been reached. As on Wednesday October 13, the Government is no longer accepting files under the current Regulation.
Further more, Sikander Lalani said that, "Under the new regulations applicants will be required to approve a minimum net worth of CDN $1.6 million and make an investment of CDN $800,000 with the government of Canada without any interest or profit for the period of 5 years. Applicants will still have the option to finance the CDN $800,000 investment, but the one time upfront cost is also expected to be CDN $200,000. The intention of Government of Quebec is to process files under the new Regulation concurrently with those under the current Regulation (although we don't know in what ratios).-PR