Monday, April 29, 2024

Québec offers three business immigration programs

Québec offers 3 attractive immigration programs for business people to live and settle in Canada.

  •  Québec Entrepreneur Program (CAD$ 300,000)
  •  Québec Investor Program (CAD$ 800,000)
  •  Québec Self-Employed Worker Program (CAD$ 100,000)

1. Quebec Entrepreneur Program

To be eligible for this program, you must:

  • have net assets of at least CAD$300,000 that have been legally obtained with, where applicable, your married or common-law spouse provided he or she is accompanying you.
  • have at least two years’ experience in running a business acquired during the five years preceding the date you submitted your application in a lawful and profitable business (agricultural, industrial or commercial) that you manage, alone or with your accompanying spouse or common-law spouse, controlling at least 25% of the capital equity.
  • Experience in running a business is here defined as the actual and full-time assuming of the responsibilities and duties related to the planning, management and control of material, financial and human resources, provided that such responsibilities and duties are not assumed in the context of an apprenticeship, training or specialization process attested to by a diploma.
  • Full time means that the person devoted all of their working time to management during the period in question.
    Note: Points are given based on the duration of the responsibilities assumed and full-time assuming of such responsibilities.
  • present your application in one of the two following program components:
    • Ability to carry out a business project component: submit a business project with the purpose of creating or acquiring a business (agricultural, industrial or commercial) in Québec that you will manage yourself or that you will participate in as management and operations partner on a daily basis. You must control, alone or with your accompanying spouse or common-law spouse, at least 25% of the capital equity with a value of at least C$100,000.
    • Acquisition of a business in Québec component: have acquired in Québec, alone or with your accompanying spouse or common-law spouse, at least 25% of capital equity in a business (agricultural, commercial or industrial) with a value of at least C$100,000. You must manage the business yourself or participate in it as management and operations partner on a daily basis.

Note that you cannot claim to be the purchaser of a business acquired, during the five years preceding the date you submitted your selection certificate application, by another candidate who participated in the program.

Assessment of the application will take into account other factors such as:

  • your age
  • the nature and duration of your training
  • your language skills
  • your personal qualities and your knowledge of Québec.
  • depending on the program component selected, the steps taken to acquire a business in Québec or your ability to carry out a business project will be the key element in your assessment.

In addition, upon your arrival in Québec, you must comply, for at least one year during the three years after obtaining permanent resident status, with the following conditions:

  • create or acquire, in whole or in part, an agricultural, commercial or industrial business established in Québec where you hold at least 25% of the capital equity with a value of at least C$100,000 and which will employ, on a permanent basis and for a minimum of 30 hours a week, a Québec resident other than yourself and accompanying family members. The agricultural entrepreneur is immune from the obligation to create or maintain full-time employment;
  • participate in the daily management and operations of the business.

2. Quebec Investor Program

To be eligible for this program, you must:

  • Have, alone or with his accompanying spouse, including de facto spouse, net assets of at least $1,600,000 CAN obtained legally, excluding the amounts received by donation less than six months before the date on which the application was filed;
  • Have experience in management in a legal farming, commercial or industrial business, or in a legal professional business where the staff, excluding the investor, occupies at least the equivalent of two full-time jobs, or for an international agency or a government or one of its departments or agencies;
    • We define management experience as the exercise, for at least two years in the five years preceding the application for a selection certificate, of duties related to the planning, management and control of financial resources and of human or material resources under your authority; the experience does not include experience acquired in the context of an apprenticeship, training or specialization process attested to by a diploma.
  • Intend to settle in Québec and sign an agreement to invest $800,000 CAN with a financial intermediary (broker or trust company) authorized to participate in the Investor Program.

The assessment of your application will also take into account other factors such as your age, the nature and duration of your professional training and your language skills.

  • The investment agreement is one of the documents to be submitted with the Application for a Certificat de selection du Québec.
  • The investment of $800,000 CAN for a five year term is guaranteed by the Gouvernement du Québec.
  • Brokers and trust companies offer the possibility of financing the investment.
  • Revenues generated by the applicant’s investment will be used to finance two Québec business assistance programs, Business Assistance—Immigrant Investor Program and Employment Integration Program for Immigrants and Visible Minorities.
  • At the end of the five year term, the broker or trust company will, within 30 days, reimburse the applicant $800,000 CAN without interest. However, the amount may vary if the applicant secured financing for the investment.

3. Quebec Self Employed Worker Program

To be eligible for this program, you must:

  • come to Québec to create your own job by practicing a profession or trade on your own account.
  • have net assets of at least C$100,000 that have been legally obtained with, where applicable, your married or common-law spouse provided he or she is accompanying you
  • have at least two years of experience as a self-employed worker in the profession or trade you plan to practise in Québec.

Assessment of your application will also take into account other factors, such as:

  • your age and the age of your spouse, where applicable
  • the nature and duration of your respective professional training
  • your language skills
  • your personal qualities and your knowledge of Québec.
Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment Journal. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

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