The Canadian Province of Quebec new Announcement of Quotas and Dates for Business Immigration Programs for its Entrepreneurs, Self Employed Worker, and Investor Immigration programs.
This Quebec immigration in investment program for pr visa will open from September 10, 2018, to March 15, 2019, for up to 15oo application. This numbers also include a quota of 1,235 applications from entrepreneurs in China.
The notable change in the requirements of net assets of $1.6 million and an investment of CAD 800,000 Previously changes and now applications to the Quebec Investor Program will have to meet the improved net assets and investment outsets of CAD 2 million and $1.2 million, respectively, that come into effect August 2, 2018.
Interested investors who have excellent proficiency in French are excluded from the quota and application time frame.
Quebec’s new Announcement of Quotas and Dates for Business Immigration Programs states that From August 15, 2018, to March 31, 2019, Quebec will accept 35 applications through Component and another 25 requests through the new Component, i.e., Entrepreneur Program. New Components criteria have come into effect from 2 August 2018.
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.
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Two Primarily focused components are:
1. component one: Quebec’s new Announcement of Quotas and Dates for Business Immigration Programs states that startups supported by a business incubator/accelerator or university.
In this Component, Quebec’s Immigration Ministry (MIDI) will consider entrepreneurs who, among other criteria:
- You need a passing score under Quebec’s Economic Class selection grid.
- Settle in Quebec to operate a business that the businessperson creates, alone or with other persons, and that has accepted an offer of service from an enterprise accelerator, a university entrepreneurship center or an enterprise incubator.
2. Component Two: It is committed to owner-funded and operated businesses.
- In this Component MIDI focuses on the development of an industry that the immigrant entrepreneur produces or obtains.
Among other criteria, a foreign entrepreneur applying under this component is required to:
- Have at least financial resources of $900,000.
- Obtain a passing score under the Entrepreneur program selection plate;
- Hold and control at least 51 percent of the investment of the enterprise he or she acquires alone or with the spouse. The value of that participation must be equal to or greater than the amount that must assist to start the company;
- Manage the enterprise himself or work as an associate in the management in the daily operation of the company or startup.
- Provide start-up security of $300,000 if the candidate wants to establish the company in Montreal (Montréal is the largest city in Canada’s Québec province. ) and $200,000 for the outside Montreal;
- There is one critical change now, i.e., candidates will now have to pay a performance guaranty deposit of $200,000 that is refundable if certain conditions are met.this is change comes between Component Two and the Entrepreneur program.
Quebec new Announcement of Quotas and Dates for Business Immigration Programs states about the self-employed worker program is-
- From August 15, 2018, to March 31, 2019, Quebec will accept 50 applications by its Self-Employed Worker Program.
- If Candidate has proficiency in French are exempt from the quota and application timeframe but for this candidate need to show the Quebec government-approved test results.
- The start-up security for candidates based in outside of Montreal must be at least $25,000.
- Candidate with a minimum of CAD 100,000 in net worth will accept through the program.
- Candidates who are from Montreal also will have to enroll start-up security of $50,000 among other requirements.