Quebec is planning to remove some requirements in its Entrepreneur Program for applicants who have already submitted their applications.
The changes were outlined by provincial immigration minister, Nadine Girault in a draft regulation published in the Gazette officielle du Quebec on December 9, 2020.
What Has Been Removed from the Quebec Entrepreneur Program?
The requirements removed are under Stream 2 of the Quebec Entrepreneur Program’s requirements regarding start-up and security deposits.
Currently, under Stream 2, applicants are required to invest at least $200,000 if their business is located outside Montreal.
If the business is located in Montreal, then applicants must make a minimum investment of $300,000. In addition, applicants must also submit $200,000 as a performance guarantee deposit.
These requirements were terminated for applicants who have already submitted their applications. This means that those applicants no longer need to have a start-up and deposit funds amounting to $500,000.