How To Immigrate to Quebec As An Entrepreneur

The possibility to immigrate to Quebec as an entrepreneur allows starting a business in one of the most progressive Canadian provinces. The Quebec Entrepreneur Program is aimed at inviting competent and experienced business personalities to invest in the economy of the province. This paper aims to explain the procedure, conditions, and advantages of immigration to Quebec under the program for entrepreneurs.

What Is Quebec's Entrepreneur Program?

This program is divided into two streams:

1. Stream 1: For people who wish to build and run a business that benefited from a business accelerator, business incubator, or university entrepreneurship center.

2. Stream 2: For those who wish to start a business or buy a business that will be personally run.

Stream 1 – Quebec Entrepreneur Program

For the applicant to be suited for this stream, they have to be residing in Quebec and establish a new business or buy a business and be in control of the business operations.

If you succeed, as part of your application process, you have to make two business deposits:

• Security Deposit: CAD 200,000 to ensure the company is created, and refundable once the business plan is executed.

• Start-up Deposit: CAD 300,000 for the business created in Montreal and CAD 200,000 for other regions of Canada.

• Net Worth: Have total assets of at least CAD 900 000 which were legally acquired including those of the spouse or the common-law partner if any.

• Business Ownership:

• For a new business: Must have at least twenty-five percent of the capital.

• For acquiring an existing business: Must acquire at least 51% of the equity of the company to be acquired.

• Business Restrictions: It cannot incorporate services such as payday loans, cheque cashing, or pawnbroking.

• Business Operation: An acquired business must have been in business for at least five years before the application of the said program.

Stream 2 – Quebec Entrepreneur Program

• To be suitable, the candidate can be carried out individually or with up to three other foreigners who are applying and must live in Quebec to create and develop a business based on a service offer.

• The project is through the same immigration program/ plan.

• It is generally impossible to define in some way the types of organizations that can support a service offer.

Service Proposal Requirements

Here are the service proposal requirements:

• Support Capacity: The supporting organization needs to show how it can help the candidate and the business project of the candidate.

• Support Plan: Particulars of the services that are to be provided to the applicant.

• Operating Plan: The financial plan and the schedule of services for the service proposal.

Supporting Organizations for Stream 1

For Stream 1, the entrepreneurs are required to get support from a business accelerator, business incubation, or university business incubation center. These organizations are centers of resources and support for new firms and can offer guidance. Examples include:

• Business Accelerators: Contain highly focused activities that aim at the rapid development of enterprises, sometimes including financial support, consultation, and contacts.

• Business Incubators: Co-working spaces that offer office space and related services, administrative services, and sometimes funding during a company’s early stages.

• University Entrepreneurship Centers: Provide the students with academic materials and access to research and guidance from successful entrepreneurs and professors.

Quebec Entrepreneur Program vs Investor Program

Eligibility Criteria

To qualify for Quebec's Entrepreneur Program, applicants must meet the following criteria:

Business Plan

A detailed business plan is a crucial component of the application. It should include:

• Executive Summary: Overview of the business idea.

• Market Analysis: Research the industry, market size, and target audience.

• Marketing Plan: Techniques for attracting and leading customers.

• Operational Plan: Details on business operations, location, and facilities.

• Financial Plan: Financial predictions, budget, and funding needs.

Application Process

The application process for Quebec's Entrepreneur Program involves several steps:

Preparation

Gather all necessary documents, including proof of net worth, business plan, and any relevant experience. Preparing thoroughly ensures a smoother application process and increases the chances of success.

Submit An Expression Of Interest (EOI)

Create an account on Quebec's immigration portal and submit an EOI. This step indicates your interest in the program and provides initial information about your profile and business intentions.

Invitation To Apply

Once your EOI is selected, you will get an invitation to apply. This invitation is based on a points system that evaluates your qualifications, experience, and the viability of your business plan.

Complete Application

Submit a complete application, submitting all the documents required. This includes your business plan, proof of financial capacity, and any other supporting documentation.

Interview

Attend an interview with Quebec immigration officials, if required. This step may involve presenting your business plan and answering questions about your experience and intentions.

Receive Selection Certificate

Once approved, you will get a Quebec Selection Certificate (CSQ). This certificate allows you to apply for permanent residence through the federal immigration authorities.

Apply For Permanent Residence

Submit your CSQ to the federal government to apply for permanent residence. This final step involves additional background checks and processing by federal immigration authorities.

Conclusion

Quebec's Entrepreneur Program provides a pathway for experienced businesspeople to immigrate and contribute to the province's economic development. By meeting the eligibility criteria, preparing a detailed business plan, and navigating the application process, entrepreneurs can establish themselves in one of Canada's most dynamic regions. The program offers significant benefits, including economic opportunities, a high quality of life, and a supportive business ecosystem.