QUEBEC ENTREPRENEUR PROGRAM
The Quebec Entrepreneur Program is an immigration pathway to foreign entrepreneurs who are looking to establish a new or an existing business in Quebec. The applicant needs to apply for Quebec Selection Certificate which is the first step in order to be eligible for this program. Upon receiving a CSQ, the applicant enables to submit an official application for Permanent Resident.
The applicant is interested in this program and can apply under one of the following 2 streams:
It focuses on new or startup businesses in Quebec which is supported by a different type of organization including a business incubator, business accelerator, or university entrepreneur center.
Business accelerator: An organization that offers support with financing assistance, to an entrepreneur who seeks to set up and grow innovative businesses.
Business Incubator: An organization that offers support to entrepreneurs who wants to create innovative businesses.
University Entrepreneur Centre: An organization managed by University Institution that provides coaching services to entrepreneurs at the university level.
The candidate needs to present a business plan as a form of application in order to get eligible for this program.
To be qualified under this stream candidates need to settle down in Quebec to set up a new business or explore existing business in Quebec. As a part of the application, the applicant needs to make 2 financial deposits:
1. Applicant must deposit a security amount of $200,000 as insurance of business establishment and will be refunded once the business plan runs successfully.
2. Applicant needs to deposit a security amount of $ 300,000 CAD for business in Montreal and $ 200,000 CAD for business outside Montreal.
Must have legally acquired net assets of up to $900,000 CAD
Applicant must show business plan as a form of application
Applicant must own 25% equity when looking to start a new business and at least 51% of equity when acquiring an existing business.
The business should not fall into the following categories:
Payday loans, real estate development, insurance brokerage, sales/ distribution of product or service related to sexually explicit.
If applying for an existing business then it must have been in operation for at least five years prior to application.
The application will take into consideration other factors including age, language proficiency, Quebec visits, financial asset eligibility, training background.