Everything about the Quebec Business Entrepreneur Program
You can surely foresee a bright future if you wish to establish a business in Quebec. The Quebec Entrepreneur program allows business owners as well as managers to get permanent residency in the province.
While the immigration program is introduced to meet the labour market needs, it may accept your profile only if you are ready to add on to economic development.
In case you have made up your mind to immigrate to Quebec, then you may apply to any of the two streams.
If you wish to set up a business, then you have to apply to the first stream. You can certainly establish the business with the help of a business accelerator. Besides, you may also avail assistance from the university entrepreneurship centre.
On August 15, 2018, the government began to accept 25 applications for the first stream. This process would continue until the end of October (October 31, 2019).
Under the second stream of the Quebec Business Entrepreneur Program, you must show interest to take over a business. Just as it is with the first stream, the Quebec government has already accepted 35 profiles since August 2018.
Eligibility Criteria you need to meet for the first stream
- If you hail from a place outside Canada, then you need to earn 41 as the minimum score. This score would later help you to apply for the first stream of the program.
The officials would calculate the score based on many factors such as age, education, language proficiency and area of training. You can also score some points if you have a relative staying in Quebec. However, you would not earn more points if you are immigrating in the province with your spouse or a life partner.
With regards to the score, the points would be awarded for factors under the Quebec Economic Class selection grid.
- Regarding education, you should at least have completed a general diploma from a secondary school.
- At the time of application, you need to present proof of funds apart from other documents. This would show that you are capable of supporting yourself financially.
- Later, you have to submit a service offer from the incubator or the university entrepreneurship center. You also need to show that the officials have assessed the business project.
Eligibility Criteria you need to meet for the second stream
- If you intend to apply for the second stream under the Quebec Business Entrepreneur program, then you need to earn 81 as the minimum score. Just as it’s with the first stream, you would receive the points based on certain factors.
- Apart from the proof of funds and the education credentials, you need to offer a start-up deposit. In case you dream of running a business in Montreal, then you need to offer $300,000. But, for a business to be set up outside the area of Montreal, you should be ready with a deposit of $200,000.
As you present the proof of funds, you should be able to cover up for the living expenses. You should be capable enough to meet the expenses for the first three months.
- In case you would be shifting with your spouse, then you should hold 25 per cent of equity that the person creates. If you want to take over a business, then the person should have 51 per cent of equity of the company.
In any case, the value should not be more than or equal to the amount that’s set aside to set up the business.
While you provide the details, the minimum net worth should be as much as $900,000.
According to the Quebec Immigration Ministry, you can apply for permanent residence only if you are 18 or more than 18 years of age.
Before acquiring any business in Quebec, an individual shouldn’t have acquired the business in the past five years.
For a business you wish to start, you shouldn’t express interest in pawnbroking, insurance brokerage, real estate development or payday loans. If the officials come across such interests, then they would reject your profile.
- The assessment process would later consider French as an important language. At that point in time, you should earn a cut-off score out 16 points for French proficiency. But, in case of English, you need to score minimum points out of 6 points.
About the Quebec Business Entrepreneur Program Interview
If you qualify to get the Quebec Canada Entrepreneur Visa, you would have to clear the selection interview. At those instances, you have to clear about the business you propose to start in Quebec.
When the interview is conducted, the counsellor may ask about your experience as an entrepreneur. He may also be keen on knowing the assets you own and your ability to run the business.
In case you plan to acquire a business, then he may know more about the steps you have taken.
Even after the selection interview, the counsellor may need some more information from your end. He may issue a letter of intent to reject the application thereafter.
In such a case, you may have to present additional documents within a time span of 90 days.
Apart from the criteria, the officials would also assess you based on the knowledge of Quebec. They would go through your business plan and also look for suitable personality traits. Once you meet the criteria, you would then go through a round of interview.
If you wish to know more whether you qualify for the Quebec Business Entrepreneur Program, then please contact us. Once you enter the details, the team would go through the profile and get back to you soon.
Firstly, you need to enter your personal details along with the age and nationality. Later, you need to state more about the net worth in Canada Dollars.
In case you hold management experience in a company, then you have to select the right options. Before you click on the ‘Submit’ button, you may enter your queries. Moreover, you can stay updated with the news through the Immigration Newsletter.