I am interested in applying for the QIIP. However, it’s unclear how I can prove the minimum $2-million net worth. I have some savings, stocks and a residence. Do I need to freeze my assets for a certain period of time during the application? Can I withdraw money from my bank account, make changes to my stocks or sell my property while my application is pending?
You are not expected to freeze your assets during the submission period. However, there are some tricks to use and keep in mind during the process. Getting yourself an experienced Quebec lawyer to guide you through the process would help tremendously.
To prove the stocks, you provide the statement balance. To prove the house market value, you do an appraisal of your properties. You do not have to freeze any of the assets while applying. You can only show the change of assets when they ask you to update the application if they ever ask. For example, an update of your stock balance or you can show the tracking of where the money went.
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