As immigrant entrepreneurs, either Immigrate to Canada as an international investor or to start a business, you can obtain an immigration status through federal or provincial programs. Federal immigration Entrepreneur is closed. Quebec Entrepreneurs has two streams. To be eligible for this program for immigrant entrepreneurs, you must meet the following conditions:
- 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 settle in Québec to create or acquire and operate a business.
- You must make a startup deposit and a security deposit at a financial institution with an establishment in Québec with whom you have signed a deposit agreement:
- You must use the startup deposit to set up your business. The required amount is lower (CAD $200,000) if you set up your business outside the Montréal metropolitan area (CMM). A startup deposit of CAD $300,000 is required if the business is located in the CMM.
- The security deposit of CAD $200,000 serves as insurance that your business will actually be created. It will be refunded when you demonstrate that your business plan has been carried out.
- You must also 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.
- 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
There are also more than 20 provincial immigrant entrepreneurs or investor programs in Canada known as PNP or Provincial Nominees Program as of today.
Your file usually begins with submitting an Expression of Interest to the province’s immigration office through online. An approved candidate will receive a work permit at the beginning and after fulfil the obligations can apply for the nomination which lead the candidate to apply for PR.
To be nominated by a province or territory, you must follow the instructions on their website and contact them directly:
- British Columbia
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Prince Edward Island
It is important to understand that the criteria by province and territory vary and can change without notice.
The ideal gateway to apply for your Canada migration application at YLG: