hi, Am working for a corporate company they asked me to get INC, BUT am on my open workpermit,is it okay if I open INC or sole proprietorship,does it affects to get my PR?
Open work permit and opening a company
- Thread starter cazrypr
- Start date
Everyone is speaking negatively about this ,as it will self employed And doesn't counts the experience. Which will Not help me for PR
if i go with sole proprietorship ,am gonna pay EI and CPP but not income tax
is that okay?
Starting a company and only working for it entirely are two different things. I started a company when I was still employed by the company that sponsored me, during the process of my pr application. There was no issue for me.
Hey were you able to open your incorporation while on Open work permit?
Can you share your inputs?
hey,I had a talk with immigration today.They told me to not go with INC or sole proprietorship because it makes self employed.to apply for PR we need to work under someone
Hey Akhil!
I also have the same problem.
I want to setup my own firm and work as self employed but I want to understand the law of taxation around it.
I believe while working for someone the income tax rates are as high as 40%. However small business corporate taxes are quite low, close to 13%.
I wanted to understand that if I setup an Incorporation on Open Work Permit, will I be entitled to the small business corporate tax benefits?
You can’t open an incorporation on a work permit, you would need a PR or a citizen to be apart of it for that to happen. Sole proprietor you can do by yourself
Yes you can, a sole proprietor if you need it to incorporate you will need a PR or a citizen to come onboard
Thank you for the answer. If you don't mind I have another question. Can I employ someone who has an OWP in my business and can that person apply for a PR in Canadian Experience Class after a year.
I believe the business should be operating for a few years. Because you would need to show the government that you are a legit business
Hey,
I am in the same situation and wondering if you could confirm whether a person is legally allowed to work as self employed while on open work permit?