Quebec’s Business Immigration has the Quebec Entrepreneur Program, which is an exciting opportunity.
It’s exactly what you need if you want to immigrate to Quebec to establish a business or acquire an existing business.
How Can You Apply for the Quebec Entrepreneur Program?
You can apply for the Quebec Entrepreneur Program under 1 of the 2 streams:
Stream 1 is for businesses or startups founded with the support of a business incubator, an accelerator, or a university in the province of Quebec.
You can establish this business alone or with partners. You can have Canadian citizens or foreign nationals as partners. You must own and control at least 25 percent of the equity capital.
You can partner with the following types of organizations:
- Business Accelerator: An organization in Quebec that offers financial assistance services to individuals looking to establish a business
- Business Incubator: An organization that offers support services to individuals looking to establish a business in Quebec.
- University Entrepreneur Centre: An organization regulated by a university that provides university-level coaching to entrepreneurs
You will be required to submit a business plan to Quebec.
Stream 2 is for individuals who want to acquire an existing business. You must own and control at least 51% of the business’s equity capital. If you are acquiring a business, then it must have been operational during the 5 years before the application. It should not have been purchased from another immigrant entrepreneur who applied under this program in the last 5 years.
You will also require a minimum deposit amount of $200,000 if your business is located outside Montreal. A $300,000 deposit is required if the business is Montreal-based.
A performance guarantee deposit of $200,000 will also be required, but it’s refundable. You are required to have net assets worth $900,000 to be eligible.
If you are in businesses related to real estate development, pawnbroking, payday laws, insurance, or the sex industry, you are not eligible for this program.
Factors like age, language proficiency, education, financial resources, and business background will determine your eligibility.
