Quebec Entrepreneur program - Immigration to Canada
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The Quebec Entrepreneur Program is a Canadian immigration program designed to help foreign business owners launch entrepreneurial endeavours in the province of Quebec. This is a unique immigration opportunity for foreign entrepreneurs who have the financial resources and business ownership experience needed to launch a new business project in Quebec. Successful applicants become Canadian permanent residents.
Please note: Though this immigration program is based in the French-speaking province of Quebec, French-language proficiency is not required for applicants. However, language proficiency may be taken into account when selecting applicants.
As of January 1, 2020, all applicants for permanent residence through Quebec immigration programs are required to show they understand Quebec values. This can be done by passing a Quebec values test or completing a course in Quebec values.
Who is eligible to apply to the Quebec Entrepreneur Program?
The Quebec Entrepreneur Program is divided into two streams, each with distinct eligibility criteria.
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What is Quebec Immigrant Investor Program?
The program allows people with a net worth of more than $2 million to get permanent residence by investing at least $1.2 million with a financial intermediary that has been approved by the Quebec government.
In order to be eligible for Stream One of the Quebec Entrepreneur Program, the prospective immigrant entrepreneur must present a business project idea for a business they intend to create and operate from within Quebec. Applicants must have already received a service offer from a Quebec-based business accelerator, business incubator, or university entrepreneurship centre.
Quebec does not have a list of accelerators, incubators, and entrepreneurship centres that are eligible to support immigrant entrepreneurs. There are no regulated criteria to recognize these organizations, but interested applicants can consult this list for examples of projects undertaken by these types of business organizations in Quebec.
To support their business project, the immigrant entrepreneur applicant must demonstrate that the business incubator, business accelerator, or university entrepreneurship centre meets the appropriate definition:
- Business accelerator: Quebec organizations offering support services, especially in securing funding, to entrepreneurs whose projects are aimed at the growth of innovative companies.
- Business incubator: Quebec organizations offering mentoring services, including hosting, to entrepreneurs with business projects aimed at creating innovative businesses.
- University entrepreneurship centre: Quebec organizations managed by academic institutions, or affiliated organizations that provide mentoring services to entrepreneurs.
When submitting an application to the Quebec Entrepreneur Program, a central component is the written service offer from the Quebec organization to support the immigrant entrepreneur’s business project. This written offer must present the services the organization intends to offer the entrepreneur and must present: a detailed support plan, an operations plan and budget, and the organization’s expertise in its field.
In order to be eligible for Stream Two of the Quebec Entrepreneur Program, the prospective immigrant entrepreneur must settle in Quebec to create a new business or purchase an existing business. Applicants will be required to submit their business idea in the form of a business plan as part of their application.
Entrepreneurs choosing to create a business must own and control at least 25 percent of its equity capital, while those choosing to acquire a business must own and control at least 51 percent of its equity capital. As well, the business must have been in operation within the five years prior to application, and cannot have been purchased from another immigrant entrepreneur selected under this program in the previous five years.
The applicant must make a startup deposit and a security deposit with a financial institution in Quebec. The minimum startup deposit amount is CAD $200,000 for businesses located outside of Montreal and CAD $300,000 for Montreal-based businesses. The startup deposit must be used to set up the business. The security deposit is CAD $200,000 and will be refunded when an applicant demonstrates that they have carried out their business plan. Please note that in late 2020 Quebec undertook a review of the startup and security deposit requirements and may suspend these requirements for applications received before November 1, 2020.
All applicants must have a minimum personal net worth of CAD $900,000 (this can include a spouse or partner’s net worth).
Businesses related to payday loans, pawnbroking, real estate development or insurance, and the sex industry are not eligible for this program.