Quebec Entrepreneur Program

 

A Quebec entrepreneur applicant is an individual from another country who comes to Quebec with the A Quebec entrepreneur applicant is an individual from another country who comes to Quebec with the intention of either establishing a business independently or with partners, or acquiring an existing business in the province.

The program underwent a revamp in 2018 and now operates under two streams, allowing entrepreneurs to apply for a Certificate of Selection of Quebec (CSQ):

 

Stream 1

This stream is designed for candidates who receive support from a business accelerator, a business incubator, or a university entrepreneurship center. These applicants aim to open and manage a business in Quebec, which can be established by the candidate alone or with partners. Partners may be Canadians or foreign nationals, limited to three individuals.

 

Stream 2

This stream involves operating a business created or purchased by the entrepreneur. Under this stream, the entrepreneur must have control over at least 25% of the shares of the new enterprise or at least 51% of an acquired enterprise, with a value equivalent to or higher than the funds needed to initiate the business project. The candidate must actively operate or participate in the daily management of the business.

 

The entrepreneur candidate is required to invest capital funds of $200,000 for a business located outside the metropolitan area of Montreal, or $300,000 for a business within the metropolitan area of Montreal. A minimum guarantee deposit of $200,000 is also required, which may be refunded upon the realization of the business project under certain conditions.

 

Additionally, the candidate must demonstrate a legally acquired net worth of $900,000 CAD, alone or with their spouse if applicable. The acquired business must have been in operation for at least 5 years before the application submission and should not have been operated by a former entrepreneur candidate in the 5 years preceding this date.

 

Furthermore, the business should not operate in specific industries, including salary loans, check cashing or pledge loans, real estate development or brokerage, and the production, distribution, or sale of explicit or pornographic products or services related to the sex industry.

 

The application process for Quebec Entrepreneur applicants involves defending a business plan during a selection interview, emphasizing the project’s feasibility and relevance to Quebec. Applicants often conduct a preliminary market visit to the province before the interview.

 

Upon approval, the application undergoes Federal security and medical verifications, and then a visa is issued with mandatory terms and conditions. The overall processing time varies between 12-44 months.

The government accepts a limited number of applications under the Entrepreneur category each year. As per the August 2018 regulations, 25 applications are allowed under the first stream, and 35 under the second stream.

 

Source: https://www.immigration.ca/quebec-entrepreneur-program