Am I allowed to incorporate an Ontario business as an international student?

[tacman]

Hi Everyone,

I have a study permit. I know that temporary residents can incorporate an Ontario business, but I am not sure if there is any limitation for this under the study permit. I won’t be working full-time on this business, I’ll just be the owner and the director.

I couldn’t find the information anywhere online and it’s impossible to reach the IRCC call center.

Does anyone with the information?

 

[yay_321]

Hi Everyone,

I have a study permit. I know that temporary residents can incorporate an Ontario business, but I am not sure if there is any limitation for this under the study permit. I won’t be working full-time on this business, I’ll just be the owner and the director.

I couldn’t find the information anywhere online and it’s impossible to reach the IRCC call center.

Does anyone with the information?

At least 25% of the directors of an Ontario corporation have to be Canadian Citizens/PR. If only 1 director they have to be citizen/pr.

 

[yay_321]

Hi Everyone,

I have a study permit. I know that temporary residents can incorporate an Ontario business, but I am not sure if there is any limitation for this under the study permit. I won’t be working full-time on this business, I’ll just be the owner and the director.

I couldn’t find the information anywhere online and it’s impossible to reach the IRCC call center.

Does anyone with the information?

You can get one friend and make them director but give them no rights in the Articles of Incorporation or give them no shares. So basically they can not do anything they are just a director for document purposes and later when you get PR you can remove them as director.

Good luck with your entrepreneurial spirits!

For further info - An Ontario Corporation is governed by the Business Corporations Act (this is the source document, all the information you will get from lawyer/blogs/forums should originate from here) you can read the act yourself, it is a long read but has all answers to absolutely any question about Ontario corporations.

https://www.ontario.ca/laws/statute/90b16