Actually this business will be in partnership. And my partner is a Canadian citizen. Would that be fine? Also can you please share the source of the information if possible.
just google that and u will find info. u can't start or won business until you are citizen or pr holder. that is the short answer. ask canadian laywers about co-founding. not sure about that.
For tax residency purpose, you can split ownership and that will be okey. If you meet residency requirement as per the CRA residency Act, then you can be majority shareholder but not by 100%, let say 51%. Once you become landed immigrant and want to restructure, you can do so by following the guidelines and plus Annual return if it is Corporations...
Not sure what you're saying is true. According to official CIC website:
You can be self employed as it doesn’t mean you have to register a business. It doesn’t count towards CEC.
Yes but my question is what if we register the business? Are we allowed to? I will be using my full time job experience for CEC, so that’s fine.
As long as your Canadian partner has majority ownership in the business. You register the business in the province where your partner resides. Honestly get a lawyer who knows the ins and outs when one partner is not a citizen or PR.
Absolutely agree. OP needs an immigration lawyer who understands this because if done incorrectly then PR may not be possible. Don’t understand why OP needs to set up a business now and can’t wait until he/she has PR.
Thats from open work permit point of view, but when registering business as corporation you need not to have majority shares if you are not PR/Citizen but you can have minority if you are temporary status..
