The Quebec Business/Entrepreneur ProgramJuly 6, 2022 2022-08-30 13:38
The Quebec Business/Entrepreneur Program
Quebec Immigrant Investor Program (QIIP)
Quebec Immigrant Investor Class category is the most vigorous program in Canada. With its limited number of spots available each year, this program fill-up so fast.
The requirements for the Quebec Immigrant Investor Program are as follow:
You must have documentary proof that you have a minimum of $2million net worth.
You can demonstrate that you have experience operating a successful business. This includes a minimum of 2 years of full‐time experience running a business in the last 5 years.
You are willing to commit to one of the two investment options:
- A $1,200,000.00 CAD deposit with the Government of Canada for a period of 5 years with no interest or
- A one-time payment of $350,000.00 CAD, which will not be refunded to you.
Quebec Entrepreneur Program (QEP)
The Quebec Entrepreneur Program (QEP) is a provincial business immigration program designed specifically for Quebec needs. Its objective is to attract candidates who have a proven business track record and who are would be willing to invest in the Quebec economy. Furthermore, the QEP an excellent way for business people to qualify for Canadian Permanent Residence who would normally not be eligible under other skilled worker categories. All Quebec Entrepreneur applicants must demonstrate the intention to reside in Quebec.
Entrepreneurs interested in immigration to Quebec can apply under one of the program’s two components:
This component is focused on new businesses or startups established in the province with the support of a business incubator/accelerator or university in the province.
This is focused on owner-funded and operated businesses.
Requirements for Quebec Entrepreneur Program: Component One
Foreign nationals interested in applying under Component One of the Entrepreneur Program will need to obtain a passing score of 41 points under all factors in the Quebec Economic Class selection grid for the Quebec Entrepreneur Program in order to be considered for selection.
Candidates under Component One of the Quebec Entrepreneur Program can obtain points for factors such as education level, areas of training, age, language proficiency in French and English, and stay and family in Quebec. There are no additional points awarded for applicants with a spouse or common-law partner.
The following are the minimum requirements for meeting the cut-off threshold for the program:
- At least Secondary school general diploma
- Submit a contract to prove financial self-sufficiency
- Provide a service offer from an enterprise incubator/accelerator or university entrepreneurship center and demonstrate successful evaluation of the business project
Requirements for Quebec Entrepreneur Program: Component Two
Foreign nationals interested in applying under Component Two of the Quebec Entrepreneur Program will need to obtain a passing score of 81 points in all 13 factors under Quebec’s Economic Class selection grid to be considered for selection.
Candidates under Component Two of Quebec’s Entrepreneur Program are awarded points for factors that include education level, areas of training, age, language proficiency in French and English, and stay and family in Quebec.
The following are the minimum requirements for meeting the cut-off threshold for Component Two:
- At least Secondary school general diploma
- Submit a contract to prove financial self-sufficiency.
- Demonstrate successful evaluation of the business project.
- Provide a start-up deposit of $300,000 for a business in the metropolitan area of Montreal and a deposit of $200,000 for a business outside the metropolitan area of Montreal.
- Holds and controls, alone or with the accompanying spouse or common-law partner, at least 25% of the equity of the enterprise he or she creates or at least 51% of the equity of the enterprise he or she acquires. The value of an applicant’s financial contribution must be equal to or greater than the amount that must serve to start up the business project.
- Have at least financial resources of $900,000
While the applicant can operate the business with a spouse or common-law partner, there are no additional points awarded for an applicant with a spouse or common-law partner.
The MIDI requires candidates applying under Component Two to provide a performance guarantee deposit of $200,000 that is refundable if certain conditions are met.
The number of positions available in the Quebec Entrepreneur Program is very limited and the demand for Canadian Permanent Residency is always high. As such it is important to submit the best qualifying application. VisaNotes can advise you on your options as a business immigrant. We navigate you through the entire process to ensure the best application is prepared for you.