Overview

This program gives opportunities to and attracts people who intend to establish a business or play their part in investing into a possible business venture. Moreover, people who are interested may be given an opportunity of unique entry into Canada for an “Exploratory Visit”, which would eventually help the contender in analyzing the best possible opportunities of setting up a business.

Applicants looking to apply in this category must fulfill the general requirements in order to become an eligible candidate.

REQUIREMENTS

  • The applicant must own at least a net asset of $300,000 CAD. It is important that the applicant have obtained the money legally. The assets of the spouse of the applicant may also add to the required amount (including common law spouses), if the spouse is accompanying the applicant.
  • Management experience of at least 2 years is required. This includes experience of running a business which has to be established form the past ten years form the day of submission of an application.  The business has to be both profitable and legal in fields such as agriculture, industrial business, or commercial businesses. Another important thing is that the applicant must be managing this business alone or alone with their spouse, while controlling 25% of the business’ capital equity.
  • As far as experience in running a business is concerned, the applicant must meet the criteria of definition of management experience by explaining that the responsibility was taken in assuming full-time duties in all greater aspects of managing a business. For instance, “Management and control of the business, Human Resources, and Handling finance. Experience in apprenticeships would not count.
  • The term “Full-time” is defined in a such a way, that the applicant must have devoted all their time to management.
  • It is necessary that the applicant intend to initiate the proposed business in the province of Quebec.

A few other factors might be taken into consideration that includes personal profile, language proficiency, the applicant’s age, and nature of professional training.

NEW BUSINESS SETUP VS BUSINESS ACQUISITION

Once the applicant arrives in the province of Quebec, the applicant is required to comply with the following conditions for at least one full year of three years after they have been granted their permanent residency in Canada.

  • The applicant must fulfill the plan of acquiring an acceptable business, and the minimum ownership must comprise of 25% of capital equity consisting of a minimum value of $100,000 CAD.
  • The applicant is required to participate in the everyday management and operation of the business.
  • The established business must give an opportunity of employment to a Canadian citizen/ permanent resident, other than to the applicant or to the applicant’s family members on the basis of a full-time job (min. of 30 hours per week). On the contrary, the entrepreneur in the field of agriculture is not obligated to bring about or maintain a full-time employment.