54. The Minister determines that the entrepreneur has carried out the business project where, in 12 consecutive months following the date of the selection decision, during a period not exceeding 36 months following the date of the foreign national’s arrival in Québec as permanent resident,
(1) the sum deposited as the start-up deposit of the business project, in accordance with paragraph 4 of section 53, has been used for the creation or acquisition of the enterprise;
(2) the enterprise that has been created or acquired complies with the business project presented with the application for selection for permanent immigration and is in operation;
(3) the entrepreneur holds and controls, alone or with the accompanying spouse or de facto spouse, at least 25% of the equity of the enterprise the foreign national created or at least 51% of the equity of the enterprise the foreign national acquired, the value of that participation must be equal to or greater than the amount used to start up the business project; and
(4) the entrepreneur manages the enterprise himself or herself or participates actively as an associate in the management and daily operations of the enterprise.