Entrepreneurs and
Other Business People
The selection of business people is done differently if they are destined for Quebec or the rest of Canada. We can advise you on both and on how to start your business as quickly as possible by obtaining a work permit.
Business people are:
1) entrepreneurs;
2) self-employed workers;
3) investors.
In Quebec, the basic criteria are as follows.
Entrepreneursmust come to Quebec to create or acquire a business and operate it. To obtain permanent residence through this program, most of them will have to demonstrate a minimum net worth of CAD900,000.
They must present their business project in the form of a credible business plan. If the business creation option is selected, the candidate will have to own and control a minimum of 25% of the company’s equity capital. If the acquisition option is preferred, the candidate must own and control a minimum of 51% of the company’s equity.
Unless it is supported by a business gas pedal, a business incubator or a university entrepreneurship center, Quebec provides that the entrepreneur will be required to make start-up deposits of CAD200,000 to CAD300,000 and a guarantee deposit of CAD200,000.
It is sometimes possible for entrepreneurs to obtain temporary work permits to come and start their businesses more quickly or to come as a business visitor. However, these permits should be obtained cautiously, as they do not guarantee that the applicant will be able to apply for permanent residence. An overall study of the file should be made to ensure that the candidate has a path to permanent residence.
Self-employed workers come to Quebec to create their own employment by working in an occupation (level O, A, or B in the National Occupational Classification), have a minimum net worth of CAD100,000, and have at least two years of self-employment experience in the occupation they intend to practice in Quebec. Start-up deposits are also required (CAD25,000 to CAD50,000). If you work in a regulated profession, you must take the necessary steps to obtain legal authorization to practice your trade in Quebec from that regulatory body.
To qualify in the Quebec investor category,you must have a net worth of at least CAD2,000,000 and be able to demonstrate the legality of the source of these funds.
In addition, you have two years of management experience in the last five years and intend to settle in Quebec. Finally, you must sign an investment agreement for CAD1,200,000 with an authorized financial institution.
Requests from business people are always files where the documentation to be provided is voluminous. They are not simple applications, because the feasibility of the business project must convince the authorities and the legality of the funds must not be questioned. You can contact us for more information.
