+1(514) 937-9445 or Toll-free (Canada & US) +1 (888) 947-9445

Sole Proprietorship or Ltd Company for Residency

Discussion in 'Business Immigration' started by britcouple, May 9, 2015.

  1. Hi all,

    My partner and I have just got our 2 year open work permits (IEC). We are going to start a food manufacturing business which will be a ltd company. We are also going to start a consulting business and by the looks of it, a sole proprietorship is the easiest to set up for this. It would be under my partner's name and she will be doing most of the contracted work while I do the admin (booking appointments, website etc).

    We're not 100% sure we will apply for permanent residency once our time is up on our visas but we would like to keep the option open. We are wondering whether it would be better to make the consulting business a Ltd company instead of a sole proprietorship on the chance that the first food business does not work out. This way, I will still have been hired for 2 years rather than just my partner.

    Sorry if this sounds confusing! I'm basically trying to figure out whether my chances of permanent residency are at risk if we end up with only my partner having a sole proprietorship as, even though I will have worked (I guess on a voluntary basis), I will have no proof of having worked in Canada if the first business doesn't work out. Or can we both apply for permanent residency if she has a successful sole proprietorship?

    Thanks :)
     
  2. http://sbinfocanada.about.com/od/startup/f/Can-I-Start-A-Business-When-I-Am-In-Canada-On-A-Work-Permit.htm
    http://smallbusinessbc.ca/article/do-i-have-be-canadian-start-a-business-bc/

    You might want to run this past a professional advisor.
     
  3. a big +1
     

Share This Page