Time spent outisde Canada employed for a Canadian business partly self-owned

[laratamamey]

Hello,
I am a Permanent Resident and have been invited to a partnership of a Canadian business where I could own 34% of the shares. 33% of the shares would belong to a Canadian citizen and the last 33% by a foreigner. As part of the "deal" I would need to move out of the country for a few years and work full time for this Canadian business abroad, I would be employed and also part owner.

In the CIC website states a Canadian business is defined as:

a corporation that is incorporated under the laws of Canada or of a province and that has an ongoing operation in Canada
an enterprise that has:
an ongoing operation in Canada
is capable of generating revenue
is carried out in anticipation of profit
in which a majority of voting or ownership interests is held by Canadian citizens, permanent residents, or Canadian businesses as defined above or
an organization or enterprise created by the laws of Canada or a province

All of this would apply in this scenario and there will be other full time employees in Canada. Considering myself as a PR and the second partner, 67% of the voting and ownership interests would be held by Canadian citizens and permanent residents, however I see nothing regarding self-owned business which might need to be addressed.

I imagine a wholly owned business could be rejected (though I have not found clear info) but what about owning a part of the Canadian business? The business would not created for the purpose of allowing me to satisfy the residency obligation and proving that would not be a problem, however I do not know if there are prohibition in this regard.

Is there official information in this regard?

Many thanks in advance!

 

[Aspat]

A friend was in a similar position but was told (nobody in an official capacity) that CIC views this scenario in a very suspicious manner. Also, when his local partner who was physically present in Canada went for an interview at the time of PR renewal, the officer told him that everybody has a company these days, in a sarcastic manner. But then again, I'm sure there are cases where it's worked.

 

[sammy_2401]

The qualifying factor for this Company is to have a registered foreign operational unit, registered in the foreign country as a foreign operational unit of a Canadian company. An employee from the Canadian company if 'posted' to its registered foreign unit will qualify for residency requirements for PR. Hope this clarifies.

 

[Msafiri]

laratamamey ,

1. How long has this company been in business?
2. What annual profits do they generate?
3. What is their annual turnover?
4. What does this business actually do - manufacture, consult etc?

I read mom and pops all over this set up...CIC will see you coming from a mile. Depending on how close to being eligible for Citizenship you are maybe have this business idea on the back burner till you apply and at least get your AOR and test booklet.