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LMIA support PR: must submit proof that the business has been in operation for a minimum of one year

R

red2seats

Full Member
Jan 23, 2020
26
1
Thank you for your time and for sharing your answer.

Regarding LMIA support PR statement that "the employer must submit proof that the business has been in operation for a minimum of one year", my situation is my employer acquired a restaurant 8 months ago from the former owner, who runs this restaurant for 5 years at this location.

Now my new owner does not change the shop's name nor operation style nor address, only the owner's name has been changed. In this case, is he eligible to apply for LMIA for me?
 
Copingwithlife

Copingwithlife

VIP Member
Jul 29, 2018
4,500
2,265
Earth
red2seats said:
That is a new number, therefore....?
Click to expand...
Sometimes when individuals purchase a business they just takeover the business number, a continuation of operation . If it was a corporation, the directors on the corporation would change thru an amendment to the articles , as well as with the CRA. There would still be access to the T2 corporation filings prior to the purchase
If they closed the business and a new corporation was set up , a brand new business number would be assigned to the new corporation In this situation, it would be treated as a brand new company
Any corporation income tax filings from the previous BN would not be accessible in the CRA system for confidentiality reasons
 
R

red2seats

Full Member
Jan 23, 2020
26
1
Copingwithlife said:
Sometimes when individuals purchase a business they just takeover the business number, a continuation of operation . If it was a corporation, the directors on the corporation would change thru an amendment to the articles , as well as with the CRA. There would still be access to the T2 corporation filings prior to the purchase
If they closed the business and a new corporation was set up , a brand new business number would be assigned to the new corporation In this situation, it would be treated as a brand new company
Any corporation income tax filings from the previous BN would not be accessible in the CRA system for confidentiality reasons
Click to expand...
I see, i am more clear now. In fact, the former owner just sold the business to new owner, the new owner purchased this small business and just takeover the business number, a continuation of operation. They did not close it ever. So should i treat as same old company of application?

Thank you very much.
 
Copingwithlife

Copingwithlife

VIP Member
Jul 29, 2018
4,500
2,265
Earth
Individuals can purchase the assets, buildings equipment etc . Employees continue as normal as if nothing has changed . Business wise, some dissolve the corporation, payroll and GST/HST are closed and everything is started fresh . If a NEW different business number was assigned , that tells me that the corporation that originally was in operation dissolved , and a new corporation was created, along with new payroll & Gst/hst accounts .
Did the new owner receive the corporation filings , payroll and gst hst filings from the previous owner ?
Typically they do , since anyone buying a company would want to know the health of the corporation previously
From the information you provided it appears the owner could use the previous information

https://www.canada.ca/en/immigration-refugees-citizenship/corporate/publications-manuals/operational-bulletins-manuals/temporary-residents/foreign-workers/guide-mergers-acquisitions.html
 
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