Quebec’s Minister of Immigration, Nadine Girault, announced changes to Quebec Entrepreneur Program (Stream 2) on March 31. The Government of Quebec removed the requirement for start-up and security deposits concerning Quebec Entrepreneur Program (Stream 2) to applications received before November 1, 2020. However, the Quebec Entrepreneur program is postponed until November 1, 2021
The Quebec Immigration Programs are great Programs for business owners, self-employed workers and entrepreneurs to settle in Canada’s only French-speaking province. However, certain important modifications were recently made to the application criteria. Read on to find out what’s changed with the Quebec Immigration Programs. Individuals who are capable of running a business and have acquired a befitting entrepreneurial, investor or self-employment experience willing to settle in Quebec can opt for Quebec’s business class migration option.
The new updates that Quebec has confirmed the removal of the start-up and security deposit requirement under stream 2 of the Quebec Entrepreneur Program were great updates for candidates with applications already in the system. The new rules take effect as of Wednesday, March 31, 2021, following the publication of new regulations in the Official Quebec Gazette.
Quebec Immigration Minister Nadine Girault first outlined the plan in a draft regulation published on Wednesday December 9, 2020. It applies to applications received before November 1, 2020 which are yet to be processed. New applications are currently suspended until November 1, 2021. The decision means candidates are no longer required to have start-up funds and deposits totaling up to CAD $500,000. Under the former terms of stream 2 of the Quebec Entrepreneur Program, candidates were required to invest starting funds of CAD $200,000 for a business outside Montreal, or CAD $300,000 in the Montreal area. A minimum guarantee deposit of CAD $200,000 was also required.
All of these will now be waived for those with applications already in the system that is yet to be processed.
What is the Quebec Immigrant Entrepreneur Program?
The Quebec Entrepreneur Program aims to recruit individuals who have the skills and experience to operate a business in the province. The program operates two streams:Stream 1
For candidates creating a business in Quebec with support from a business accelerator, a business incubator or a university entrepreneurship center.Stream 2
For candidates creating or buying an existing business. The candidate must control at least 25 per cent if it’s a new enterprise, or at least 51 per cent of an acquired enterprise. The candidate must prove that they have legally acquired a net value of CAD $900,000, alone or with their spouse if applicable.
Quebec’s immigration programs are managed by the province based on selection criteria and processes that are distinct from Canada’s immigration programs. Ultimately, it is up to Immigration, Refugees and Citizenship Canada to make the final decision on immigration applications.
Individuals who are capable of running a business and have acquired a befitting entrepreneurial, investor or self-employment experience willing to settle in Quebec can opt for Quebec’s business class migration option.
- Upon a provincial approval, candidates are provided with the Quebec Selection Certificate (CSQ). The CSQ is the official document issued by the government which allows the candidate to obtain a Canada immigration visa, provided the applicant has cleared the medical and security checks.
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