The Quebec immigration Ministry (“MIDI”) just announced some good news for business Immigrants by reopening the two main business immigration programs of the province: the Quebec Immigrant Investor Program and the Quebec Entrepreneur Program.
The Quebec Immigrant Investor Program allows individuals to become permanent Canadian residents and settle in the Province of Quebec by making a government-guaranteed and passive investment. To apply under the program a candidate must:
- Have net assets of at least CAD$ 2 000 000 (alone or with their accompanying spouse)
- Be ready to make an investment of $CAD 1 200 000 for 5 years to (and guaranteed by) the Quebec Government. (It is possible to finance this investment with a participating financial institution)
- Demonstrate at least 2 years of management experience during the past 5 years
- Intend to live in the province of Quebec
The program will accept up to a maximum of 1900 Investor applications in the current government fiscal year which ends next March. But any candidate who is proficient in French will not be subject to this quota.
Quebec also announced the opening of its redesigned Entrepreneur Program . This program requires that candidates make active investments in the province either by creating a new business or by investing in an existing one. Participating foreign nationals must, among other:
- Create or buy a business (alone or with their accompanying spouse) at least 25% of the equity of the enterprise they create or at least 51% of the equity of the enterprise they acquire, or have received and accepted an offer from an accelerator, a business incubator or from a university entrepreneurship center;
- Make a start-up deposit of 300 000 $ (CAD) if settling in Montréal or 200 000 $ (CAD) elsewhere in the province of Québec;
- Make a security deposit of a minimum of Can$200,000 at a financial institution to be used for the creation or acquisition of the business. This security deposit will be refunded once approved candidates demonstrate that they have complied with the requirements of the program after their arrival in Canada;
- Participate in the daily management and operations of the business;
- Obtain sufficient points to qualify for the Quebec Entrepreneur Program under the applicable selection grid;
- Settle in the province of Quebec.
Quebec’s business immigration programs offer excellent options for becoming a permanent resident of Canada. Are you an investor or an entrepreneur? Contact Siminca at the soonest or complete our free online assessment form and we will assist you in your project of immigration to Canada.
SIMINCA / July 18, 2018
