Looking for an entrepreneur program for setting up a business or buying an existing one in Quebec? This stream helps foreign immigrants who want to settle in Quebec as business owners to get a quick and easy permanent residence.
Where to Apply?
Apply under one of the following streams and meet its terms:
- Firstly, have received a service offer from a business accelerator or incubator or a university entrepreneurship centre, to settle, set up and run a business in Quebec.
- Secondly, submit a business plan and a service offer.
- Also, have an attestation of learning about democratic values and the Québec values.
- Settle, set up or buy and run a business in Quebec.
- Make a startup and security deposit at a financial institution with a Quebec establishment. With whom the applicant has signed a deposit agreement.
- Also, a startup deposit is an amount that is used to set up a business in Quebec.
- If setting up business outside the Montréal metropolitan area (CMM) the Deposit amount must be below CAD $200,000.
- If setting up a business in the Montréal metropolitan area (CMM) the Deposit amount must be CAD $300,000.
- Must have a legal net worth of CAD $900,000, either alone or with the spouse or de facto spouse.
- Submit a business plan.
- Have an attestation of learning about democratic values and the Québec values.
- If setting up a business, the applicant must have a minimum equity capital share of 25%. Similarly, if buying a business, the applicant must own and control a minimum of 51% of share capital equity.
- Also, the business must not be in the following:
- Payday loans, cheque cashing, or pawnbroking
- Real estate development or real estate or insurance brokerage
- Production, distribution, or sale of pornographic or sexually explicit products or offering services that are erotic.
- In addition, the business must have been running for a minimum of 5 years before applying to the program.
Besides, an applicant can not buy a business 5 years before applying to the program from a past applicant who has been selected as an entrepreneur under this program.
Moreover, all applications under this program are assessed as per the factors such as:
- Education Level
- English and French Language Skill Level
- Funds to support/settle
- Visits to Quebec
- Quebec connection – Family in the province