Foreign nationals who wish to set up a new business or purchase an existing business, alone or with partners, in Quebec can apply under Quebec Entrepreneur Program.
Quebec Entrepreneur Program has two pathways under which the candidates can apply for Quebec Selection Certificate (CSQ). They are:
Those candidates who receive support from a business accelerator, a business incubator or a university entrepreneurship center can apply under this Stream. The candidate can set up the business either alone or in partnership. If the partners are also foreign nationals, their number must not exceed three.
Under this Stream, the applicant must operate the business in Quebec on a daily basis, after purchasing or acquiring the same. The applicant must hold at least 25% of the shares if it is a new business or 51% if the business is acquired. The shares must have a value equal to or higher than the minimum funds needed to start the business project.
The candidate must invest at least $200,000 if the business is located outside the metropolitan area of Montreal or $300,000, if the business is located outside the metropolitan area of Montreal. The candidate must also have a net worth of $900,000 CAD, which is legally acquired, alone or with their spouse, if applicable.
If the candidate is planning to acquire an existing business, it must have been in operation for at least five years before the submission of the application. Besides, the business must not have been operated by a former entrepreneur candidate in the five years preceding the date of application. Moreover, the proposed business must not be in any of the following areas:
As part of the application process, the candidate needs to submit a business plan. The Quebec immigration authorities will evaluate the application on the basis of a number of eligibility factors such as education, work experience, age, language proficiency, feasibility of the business plan, ties to Quebec etc. If the application is accepted, as a next step, the candidate has to attend a selection interview in which they will be defending the business plan, including its feasibility and relevance. Before the interview, the candidate also needs to make a preliminary market visit to Quebec.
If the interview is successful, the candidate has to undergo security and medical verifications by the federal government. The applications are usually processed within 12-44 months.
Quebec accepts only a limited number of applications under the Entrepreneur program. While maximum 25 applications are allowed under the first steam, a maximum of 35 applications can be submitted under the second stream.
Quebec offers great opportunities for entrepreneurs and investors, along with high quality living. Contact us to explore your options to migrate to Quebec.