how complicated and difficult is it to buy or start your own business

[smurf4t]

We are self employed business people who have a passion for our own business. When moving to Canada we would like to buy our own business's and were wondering how complicated and how difficult it would be to buy our own business, and be independent ?

Any suggestions

[aimcomm]

HI, DO U HAVE AN IMMIGRATION ATTORNEY?  I AM IN THE SAME SITUATION AND IS LOOKING FOR ONE.

[M.zubair]

HI, DO U HAVE AN IMMIGRATION ATTORNEY?  I AM IN THE SAME SITUATION AND IS LOOKING FOR ONE.

[lewvisalew]

I found an existing business in Canada that I wanted to buy along with a business partner who is a Canadian citizen.  It was the same process I find in the US as far as credit worthiness when financing the purchase.  My partner had very little financing to contribute but would fill the position as full time manager and I knew without her talent and energy, there was no chance the business would work.  The information I received from a Canadian Lawyer was that if I purchased the business outright without financing, 25% ownership by a Canadian Citizen was required and one Board Member was to be Canadian.   When I arranged financing with a Canadian Bank, The Bank's requirement was that there be 51% Canadian ownership and the majority of Board members were to be Canadian Citizens.  Also, the bank would finance a smaller part of the purchase than if the ownership was 100% Canadian.  Since I furnished all the required down payment and acquired only 49% of the ownership, I was in fact loaning her the funds for the purchase of her part and would repay me according to the loan documents we drew up.  There are partnership agreements to be drawn up providing for the eventual division of assets if the business is sold and how one Partner could buy out the other.   I found nowhere in the process where the Canadian Government was involved.   As a non-citizen, if I spend half or more of the year in Canada, or collect compensation from the business, I would be required to pay Canadian Income Tax on ALL my income regardless of the source.

[BCguy]

We encourage Business Immigrants into our Province Please visit our PNP Website for Business Immigrants.Disclaimer Yes I work for the BC Goverment

[Nicholas]

It's very wasy to start a business in Canada. There are also businesses that you can just buy. I did find a website that listed many businesses for sale. Maybe you can do a search.

Do you have any idea as to what business you would like to start? What would be your business goal? Some immigrants just want a simple business just to make a living. Some want to bring their dream business to Canada. How much money would you be willing to risk?

Don't be in a hurry to start your business. Canada Immigration gives you lots of time, and you can always change your business plan.

If you want to sart a business in a cerrtain area, like a restaurant, or whatever, try working in that industry for a year or so, and learn what you can. Trust in yourself and not in others. Make as many contacts as you can.

Best of luck to you.

[New Horison]

Hi,

Can I invest money in educational establishments in BC? I have been working in this field in my country for 15 years with 4 years of managerial position.

Thanks

[BCguy]

Yes,We would support that kind of Business,In fact if that is your intention,Please contact me because My Minister would endorse that proposal to the BC PNP office.That is something He supports and We could arrange a letter of support for you which would very greatly ensure acceptance of your business plan

[ghiaskhan]

Things may look difficult & complicated because of lake of information and unforeseen legal difficulties. To have positive results you must consult and hire a Business lawyer , who will do things in a professional manner & you will feel yourself in a risk free zone. I know it will be an expensive process,but money spent now will allow you to ride a turbulance free flight. Good luck

regards
GK

[BCguy]

If you wish to invest in my province,I can refer you to one of the people in the BC PNP who could also advise you for free