Requirements

• The applicant must own at least the net assets of CAD $300,000. It is important that the applicant must have obtained them legally. The assets of the spouse of the applicant may add up too to the required amount (including common law spouse), if the spouse is accompanying the applicant.
• The management experience of at least two years is required, of running a business which has to be established from the past ten years from the day of submission of an application. This business has to be both profitable and legal in fields such as (agriculture, industrial or commercial). Another important thing is that the applicant must be managing this business alone or along a spouse, while controlling 25% of business’ capital equity.
• As far as the 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 & control of business, human resources and finance handling”. Experience of apprenticeships would not count.
• The term “Full time” is defined in such a way, that the applicant must have devoted all their time to management.
• It is necessary, that the applicant must intend to initiate the proposed business in the province of Quebec.

A few other factors might also be taken into consideration that includes personal profile, language proficiency, 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 complete year of three years after he/she has 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 CAN $100,000.
• The applicant is required to participate in the everyday management and operation of the business.
• The established business must give a chance of employment to a Canadian citizen/permanent resident other than the applicant or the applicant’s family member on the basis of a full time job (minimum 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.