Eligible Corporation
Criteria
The Immigrant
Investor Program was set up to promote economic
growth and job creation by encouraging the immigration of
foreign business people and senior managers who have the
possibility of investing $350,000 or $400,000 CDN into the
Canadian economy.
To apply for financial aid
through the Immigrant Investor Program, a business must
meet the following conditions at the time of the
investment:
- A Canadian-controlled
profit-making corporation
- Central management must be located in Quebec
- Total consolidated assets not exceeding 35 million
dollars
- More than 60% of the salaries for the 12 months preceding
the investment were paid to employees in a facility
located in Quebec.
Limitations
The eligible corporation
may not use the investment to:
Repay a creditor
Make loans
Purchase immovables for resale
Purchase, construct or renovate an immovable that is
used wholly
or partly for residential purposes
Make an investment outside Quebec
Purchase or acquire securities from other corporations
Buy back or acquire securities from the corporation or
an
associated corporation
For further information or
to apply for a business loan, you can obtain a copy of our
publication entitled "Immigrant
Investor Program - loans for Quebec businesses"
by sending a request to info@rcican.com.
