Canada ~ Quebec Entrepreneur Program
Time to Permanent Residency: 0 Year ~ Time to Citizenship: 5 Years
NOTE: The maximum number of applications to receive for the period from November 1, 2021 to December 31, 2022 has been reach on March 8, 2022 for non-Francophone entrepreneur applicants. And the intake of permanent selection applications under the Entrepreneur Program — Stream 2 has been temporarily suspended at the time of this update.
For the information purposes, to be eligible for this program, you must meet the following conditions:
Investment
Stream 1
You must settle in Québec to create and operate a business for which you have already received a service offer from a business accelerator or incubator or a university entrepreneurship center. You can carry out your project alone or with others, up to a maximum of three other foreign nationals who have submitted applications for permanent selection as entrepreneurs for the same project.
- You must present your business project in the form of a business plan, as well as a service offer.
- You must obtain, by the prescribed deadline, an attestation of learning about democratic values and the Québec values. The members of your family accompanying you (your spouse of 16 years of age or older and your dependent children of 18 years of age or older) must also obtain the attestation.
Under the Entrepreneur Program, Stream 1, there is no list of support organizations, i.e. business incubators, business accelerators and university entrepreneurship centres authorized to support entrepreneur applicants under this stream and their project, nor are there any regulated criteria intended to recognize these organizations.
Nevertheless, to assist you with the procedure, you can consult a list of projects from business incubators, business accelerators, and university entrepreneurship centres, supported by the Ministère de l’Économie et de l’Innovation, for information.
A business incubator, a business accelerator or university entrepreneurship centre that wants to support an entrepreneur applicant and his/her project must meet the appropriate definition:
- A “business accelerator” is an organization with an establishment in Québec that offers support services, particularly for finding financing, to people whose business projects are aimed at the growth of innovative companies;
- A “university entrepreneurship centre” is an organization managed by an academic institution referred to in Section 1 of the Act Respecting Educational Institutions at the University Level (chapter E-14.1), or an organization affiliated with such an institution and that provides mentoring services to entrepreneurs;
- A “business incubator” is an organization with an establishment in Québec that offers mentoring services, including hosting, to, people whose business projects are aimed at the creation of innovative businesses.
The organization must demonstrate its ability to support the applicant and his/her project.
To this end, it must write a service offer in which it presents the services it intends to offer the entrepreneur to accomplish his/her project. The support organization must also present:
- The proposed support plan (list and description of services that it plans to offer the applicant to carry out the project);
- The operation plan (detailed budget for the service offer and the schedule for carrying out the support activities, i.e. the services offered);
- Its expertise as a business accelerator, business incubator or university entrepreneurship centre (its skills and achievements in relation to the entrepreneur’s project).
Investment
Stream 2
- You must settle in Québec to create or acquire and operate a business.
- You must have a minimum net worth of CAD $900,000, alone or with your spouse or de facto spouse, and you must demonstrate that this money has been legally acquired.
- You must present your project in the form of a business plan.
- You must obtain, by the prescribed deadline, an attestation of learning about democratic values and the Québec values. The members of your family accompanying you (your spouse of 16 years of age or older and your dependent children of 18 years of age or older) must also obtain the attestation.
- If you choose to create a business, you must own and control at least 25% of its equity capital. If you choose to acquire a business, you must own and control at least 51% of its equity capital.
- Your business must not be involved in any of the following activities:
- Payday loans, cheque cashing, or pawnbroking
- Real estate development or real estate or insurance brokerage
- Production, distribution, or sale of pornographic or sexually explicit products or services related to the sex industry, such as nude or erotic dancing, escort services or erotic massages
- Your business
- Must have been in operation during the five years prior to your date of application
Please note that you cannot acquire a business purchased, in the five years prior to submitting your selection application, from an immigrant selected as an entrepreneur under the program.
Your application will also be assessed on the basis of other factors and criteria including:
your age
your level of education
your French and English language skills
your financial self-sufficiency
your visits to Québec
your family in Québec
Note that even if you have already launched your business project in Québec, you may still be eligible for the Entrepreneur Program, as long as the project is not yet fully implemented. However, you will still have to observe all of the Program’s rules, which include presenting a business plan and meeting the financial requirements.
