Quebec announces new quotas, application dates for business immigration programs
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The province of Quebec has announced the new quotas and application intake periods for its Investor, Entrepreneur and Self-Employed Worker immigration programs.
The Quebec Immigrant Investor Program will open from September 10, 2018, to March 15, 2019, to 1,500 applications. This number includes a quota of 1,235 applications from entrepreneurs in China.
Interested investors who can provide Quebec government-approved test results showing an advanced intermediate proficiency in French are exempt from the quota and application time frame.
Among other criteria, applications to the Quebec Investor Program will have to meet the revised net assets and investment thresholds of CAD $2 million and CAD $1.2 million, respectively, that come into effect August 2.
The previous requirements were net assets of CAD $1.6 million and an investment of CAD $800,000.
Quebec will accept 25 applications through the new Component One of its Entrepreneur Program and another 35 applications through Component Two between August 15, 2018, and March 31, 2019.
The criteria for the new components come into effect August 2.
Interested entrepreneurs who can provide Quebec government-approved test results showing an advanced intermediate proficiency in French are exempt from the quota and application time frame.
Component One is focused on startups supported by a business incubator / accelerator or university and Component Two is dedicated to owner-funded and operated businesses.
Under Component One, Quebec’s Immigration Ministry (MIDI) will consider entrepreneurs who, among other criteria:
Component Two focuses on the operation of an enterprise that the immigrant entrepreneur creates or acquires.
Among other criteria, a foreign entrepreneur applying under this component is required to:
A key change between Component Two and the Entrepreneur program’s former requirements is candidates will now have to pay a performance guarantee deposit of $200,000 that is refundable if certain conditions are met.
Quebec will accept 50 applications through its Self-Employed Worker Program between August 15, 2018, and March 31, 2019.
Interested applicants who can provide Quebec government-approved test results showing an advanced intermediate proficiency in French are exempt from the quota and application time frame.
As of August 2, candidates accepted through the program will be required to have a minimum of CAD$100,000 in net worth.
Candidates who will be based in Montreal also will have to register a start-up deposit of $50,000 or more at a local financial institution, among other requirements.
The start-up deposit for candidates based in regions outside of Montreal must be at least $25,000.
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