New Corporation setup

[kn2172]

Hi All,

I and my wife are PR of Canada & have got PR cards. But currently, we are out of Canada.

We are planning to do 3 kinds of business in Canada :

1) Online sale of apparel, merchandise, goods like handicrafts and food products from India in Canada. ( and maybe many more from Canada, India & China)

2) Human resources consultancy: Search and provide human resources especially IT resources all over Canada.

3) Set up an import business in Canada, to import manufacturing raw materials or anything required in Canada from all over the world. (Basically set up dealership of foreign companies in Canada).

It would be great if someone can guide us with below queries :

1) Do we need to register a different corporation for each kind of business or all of the above business can be done under a single corporation?

2) For registering a corporation, do we need to be physically present in Canada or we can do the procedure from outside Canada as well?

3) Can we open a bank account for a corporation & get a credit card for the same? If yes, do we need to be in Canada for the same?

4) What are the different ways to build a credit history of ourselves and our corporation?

5) which makes more sense - should we register a new corporation or should we plan to buy a shelf corporation?

Regards,
KN

 

[torontosm]

Hi All,

I and my wife are PR of Canada & have got PR cards. But currently, we are out of Canada.

We are planning to do 3 kinds of business in Canada :

1) Online sale of apparel, merchandise, goods like handicrafts and food products from India in Canada. ( and maybe many more from Canada, India & China)

2) Human resources consultancy: Search and provide human resources especially IT resources all over Canada.

3) Set up an import business in Canada, to import manufacturing raw materials or anything required in Canada from all over the world. (Basically set up dealership of foreign companies in Canada).

It would be great if someone can guide us with below queries :

1) Do we need to register a different corporation for each kind of business or all of the above business can be done under a single corporation?

2) For registering a corporation, do we need to be physically present in Canada or we can do the procedure from outside Canada as well?

3) Can we open a bank account for a corporation & get a credit card for the same? If yes, do we need to be in Canada for the same?

4) What are the different ways to build a credit history of ourselves and our corporation?

5) which makes more sense - should we register a new corporation or should we plan to buy a shelf corporation?

Regards,
KN

1) This is your choice. Your trading company can have multiple activities so long as any requisite licenses are obtained to perform the functions.
2) No, you can register a company while abroad
3) No, you will need to be in Canada to get your corporate bank account setup
4) To build your credit history, you need to establish a track record of borrowing and repaying debts.
5) Set up a new corporation. It's quick, easy and cheap.

 

[canuck78]

Looking at your previous posts you are going to run into some problems. You are arriving without meeting your RO which means you really need to remain in Canada for 730 days straight. For 2 of your companies you are going to have to source goods and materials which will should involve travel. When it comes to getting clients when HR consulting you usually need to have worked in the industry to have experience and contacts. Canadians are big on Canadian experience or experience in recognized international companies. Would really suggest you work in HR in Canada before setting up a consulting business. Being self-employed will create issues getting a mortgage as well until you have a few years of consistent income.