Published On: Mon, Apr 2nd, 2018

Quebec Plans to Revamp Entrepreneur Immigration Options

The Government of Quebec has proposed several updates to its Entrepreneur immigration category.

The changes will revise two components which are used to select entrepreneurs. One will be focused on owner-operated and funded businesses, while the other will be focused on startups supported by a university or business incubator/accelerator.

Under the first component, entrepreneurs would be chosen based on the following criteria:

  • The enterprise is not engaged in restricted economic activity.
  • The entrepreneur obtains a passing score on the Entrepreneur program’s selection grid.
  • The entrepreneur holds and controls at least 25% of the equity of the enterprise, or at least 51% of the equity of the enterprise being acquired.
  • The entrepreneur provides a performance security guarantee deposit and a start-up deposit.
  • The entrepreneur manages the enterprise or is actively involved in the management or daily operations of the business.

Under the second components, entrepreneurs would be chosen based on the following criteria:

  • The entrepreneur settled in Quebec to operate a business he or she created, and has received an offer of service from an incubator, accelerator, or university entrepreneurship program.
  • The entrepreneur obtains a passing score under the Economic Class selection grid.

One major change with the first component is that candidates will now have to pay a performance guarantee deposit that may be refunded if certain criteria are met.

Thus far, no details have been revealed on the net worth, deposit or other financial requirements applicants must meet.

photo/ pixabay

News of the changes comes after Canada proposed a new initiative that will welcome more immigrants over the next three years, says the Canadian Association of Professional Immigration Consultants, or CAPIC.

“Unlike some western countries which have slammed the brakes on immigration intake, Canada goes the opposite direction, upholding the age-old tradition that immigration strengthens all facets of Canadian life, in which successive waves of newcomers had developed and built up the country in past decades,” said Dory Jade, CAPIC CEO.

In 2018, Canada plans to welcome 310,000 permanent residents to the country. That figure will increase to 330,000 in 2019 and 340,000 in 2020.

Ahmed Hussen, Minister of Immigration, Refugees and Citizenship, said the bold initiative “will result in the most ambitious immigration levels in recent Canadian history.”

Canada’s population now stands at 36 million. The top 10 source countries for immigrants in 2016 were India, Philippines, Iran, China, France, United Kingdom, United States, Pakistan, Syria and South Korea.

More than 50,000 Syrian refugees have been resettled by Canada, and the country assisted refugees during the Kosovo and Vietnam crises.

“Canada is home to millions of immigrants,” says immigration lawyer Ronen Kurzfeld. “This is a great place to live in and has one of the highest immigration rates per year over 250,000 new immigrants settling in Canada. One of the reasons is because Canada provides tolerance, respect, opportunities, cultural diversification and peace of mind for its residents.”

“Our socio-economic dynamics leaves the Canadian government no choice but to bring more immigrants to sustain the country’s growth,” said Jade. “This is the reality facing any government, Liberal or otherwise.”

Jade expects the country to increase its immigrant intake from economic classes, which includes young entrepreneurs, workers and investors.

Canada’s move to welcome more immigrants is a stark contrast to many other Western countries, which have taken measures to tighten their borders.

Author: Jacob Maslow

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