Changes regarding the selection of business people
It deals with the following subclasses:
· Self-employed person
· Entrepreneur
· Investor
The purposes of the changes are the following:
· Increasing the competitiveness of the program
· Improving successful rate in work for entrepreneurs applicants
· Encouraging the acquisitions of Quebec businesses
· Introducing Quebec conditions for the permanent residency
1. Self-employed person
Nine factors are taking into account (please check the chart).
2. Entrepreneur
Nine factors are taking into account (please check the chart).
The main changes are the following:
· Experience
The applicant must have acquired at least two years of experience in the five years preceding the date of filing of the application for a selection certificate. The experience must have been acquired in the operation of an enterprise where the applicant controls at least 25% of the equity with, if need be, the accompanying spouse, including the de facto spouse. It has to be in a commercial, industrial or agricultural enterprise.
· Stay and family in Quebec
The stays for business for at least one week are now taking into account, for seven days running. The foreign national must have completed this stay in the two years preceding the date of filing of the application for a selection certificate.
· Financial resources
The applicant must have net assets obtained legally with the accompanying spouse, including de facto spouse, if applicable, of at least $300 000.
· Business project
There are two criteria. The application is assessed according to one or the other criterion:
Ability to carry out a business project in Quebec
The assessment of this criterion is based on:
Market exploration
Feasibility of project
Financial resources
The features of the project that are taking into account are the followings:
Creation or acquisition of an enterprise situated and operated in Quebec
Control 25% of the equity with, if need be, the accompanying spouse. The percentage is worth at least $100 000
Creation or maintain of at least one full-time work for a minimum of 30 hours per week for at least one Quebec resident other than the foreign national and the foreign national’s accompanying family members
Acquisition of an enterprise in Québec
The applicant must meet the following conditions:
The applicant must control 25% of the equity with, if need be, the accompanying spouse including de facto spouse
The percentage is worth at least $100 000
The enterprise must not have been acquires in the five years preceding the filing of the application by another foreign national who has obtained a selection certificate as an entrepreneur
Taking part in management and daily operations
The applicant must provide a document attesting a definite agreement during the interview. The selection certificate is delivered if the applicant proves the acquisition of a business.
If the applicant wants to acquire a business, an intention notice of CSQ is delivered. The applicant has 6 months to submit a document that proves the acquisition.
The applicant is subject to the right of permanent residency conditions:
· The entrepreneur is submitted to federal regulations (paragraph 98 (1) to (5) of the Immigration and Refugee Protection Act) precising the conditions of the right of permanent residency among others:
Requirements relating to the business project that has to be realized Quebec
The method of compliance of these conditions
· The family members of an entrepreneur are subject to the condition that the entrepreneur meets the conditions set out in subsection 98 (98(6)).
· According to federal regulations, the entrepreneur is subject to the following conditions:
Paragraph 98(1)
The entrepreneur must control a percentage of the equity of a qualifying Canadian business equal to or greater than 33 1/3 per cent
The entrepreneur must provide active and on-going management of the qualifying Canadian business
The entrepreneur must create at least one incremental full-time job equivalent for Canadian citizens or permanent residents, other than the entrepreneur and their family members
Paragraph 98(2)
If at the time an entrepreneur selected by a province provides the written statement referred to in paragraph 88(1) the province has established the conditions required to be met by such an entrepreneur, that statement must refer to those conditions instead of the conditions set out in subsection (1) and the entrepreneur must meet those conditions instead of the conditions set out in subsection (1)
· The entrepreneur is still subject to paragraph 98(3) to 98(5)
The entrepreneur must meet the conditions for a period of at least one year within the period of three years after the day on which the entrepreneur becomes a permanent resident (98(3))
An entrepreneur who becomes a permanent resident must provide to an officer evidence of compliance with the conditions within the period of three years after the day on which the entrepreneur becomes a permanent resident (98(4))
An entrepreneur must provide to an officer no later than six months after the day on which the entrepreneur becomes a permanent resident, their residential address and telephone member (98(5a))
An entrepreneur must provide to an officer during the the period beginning 18 months after and ending 24 months after the day on which the entrepreneur becomes a permanent resident, evidence of their efforts to comply with the conditions
3. Investor
The definition of an investor has been changed in order to take into account the value of the equity of the accompanying spouse, including de facto spouse, in the calculation of the net assets of the applicant if:
· The net assets include the value of the equity of the foreign national’s accompanying spouse, including spouse and
· If that equity belongs to the foreign national and is invested in an enterprise in which the investor also controls the equity and has acquired experience in management
Seven factors are taking into account for the selection of an investor (please check the chart)
The application for resident permanency has to be submitted 12 months after receiving the selection certificate. If not, the investment won’t be paid back.
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