Canadian Immigration News

Quebec Entrepreneur Program to Remove Some Requirements for Candidates Who Have Applied

1.5 minute read
"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."
Written by My Visa Source Team
Published on:  Apr 15, 2021
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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 the applicants must make a minimum investment of $300,000. In addition to this, 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.

What is the Quebec Entrepreneur Program and Who is it Designed to Attract?

The government has suspended the intake of new applicants under Stream 2 of the Quebec Entrepreneur Program until November 1, 2021.

The Quebec Entrepreneur Program is for international entrepreneurs and investors who have the relevant skills and experience and necessary capital to establish and operate a business in the province.

It has 2 Streams:

Stream 1 requires applicants to have support from a business accelerator, incubator or university entrepreneurship center in Quebec.

Stream 2 requires applicants to invest a minimum amount based on where their business is located and make a performance guarantee deposit that is refundable.

If you are an international entrepreneur and investor, then you would also require a minimum net worth of at least $900,000, alone or with your spouse to qualify for this stream.

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