Quebec Entrepreneur Program
The Quebec Entrepreneur Program is a dynamic pathway for foreign nationals who aim to establish themselves in one of the most vibrant provinces in Canada. This program is for entrepreneurs with a vision to either launch innovative businesses, initiate start-ups or take over existing enterprises in Quebec.
This program was revamped in November 2023, but its updated guideline will come into effect on January 1, 2024, with a main goal to boost Quebec’s economy.
What You Need to Qualify for the Quebec Entrepreneur Program?
To apply, you must:
- Have a diploma that is equal to a high school diploma in Quebec or higher.
- Prove that you can cover yourself and your family financially for at least three months.
- Have French language proficiency that equals level 7 or above.
- Be at least 18 years old and be ready to manage your business directly.
Find out if you are eligible to get in Canada →
Quebec Entrepreneur Program Streams
The Quebec Entrepreneur Program is for entrepreneurs who are planning to start or grow their business in Quebec. It offers three main streams for entrepreneurs: creating innovative businesses, starting a new business, or taking over an existing one.
Stream 1: Innovative Companies
This stream is for applicants who want to come to Quebec with innovative ideas to aid the economic development of the province. There are two subcategories present in this stream:
- Creating an Innovative Business
To establish a new innovative business, an applicant has to:
- Have at least 10% ownership in the business.
- The organization should be backed by an innovative organization.
- Intent to operate the business solely or along with a maximum of three other applicants.
- An Innovative Project
For specific innovative projects for individuals with a particularly innovative project, you need to:
- Reside in Quebec for two years;
- Have at least 10% ownership in the business;
- Deal with an innovation-support organization.
Stream 2: Business Start-ups
This stream is for those entrepreneurs who plan to establish a new business or relocate an existing one to Quebec.
Starting a New Business
The following are the requirements:
- Business Experience: At least two years of management experience in running a business in the past five years
- Investment: Intentions to invest at least 25% of the value of the business.
- Operating Expenses:
- If the business is in Montreal, operating expenses have to be at least CAD 300,000.
- Outside Montreal, the minimum is CAD 150,000.
- Net Assets: You must show that you and your spouse have a net worth of CAD 600,000 in total.
Operating Business
For an operating business in Quebec, the requirements are similar as stated above, but you will need to prove the successful operation within one year since the registration of the business with the program.
Stream 3: Business Takeovers
This stream is meant for business persons who wish to take over a business already in operation in Quebec.
What is Required?
- Net Worth: You must have acquired assets of CAD 600,000 using legal gains.
- Business Type: The business must have been in operation for at least five consecutive years and must not have been previously owned by an individual who has benefited from this program in the last five years.
Two Options to Choose Between
The two options are:
- Buying a Business within a Brief Period
- Make a firm offer on the business in no more than two years from the date of the application
- Invest at least CAD 300,000 in a business in Montreal or CAD 150,000 outside Montreal
- Already Purchased a Business
- You need to be already in possession of the business control.
- You must have resided in Quebec for at least two years before submitting your application.
Why This Program?
It is a program aimed at making it easier for the entrepreneur to start a new or grow in an enabling environment. Whether it is for the creation of a new business, the founding of your company from scratch, or taking over a running one, this program is devised to help you succeed.