Business owner or partnership which is easier to show?

[rahul5]

My dad has a firm and now he's wanting me to take over as a owner. but iam skeptical should i go in for partnership with dad or ownership as iam also applying for canada express entry. though i have been working till now and have experience of 7+ years in HR field . so my question is.

1.will having a business in my name cause any issues for canada immigration?
2.is partnership easier to show for immigration?
3. can i hold a business in India in my name and use its earning in canda?
4. What if we don't show business at all?and show my work experience. will it be ok?

because immigrating is uncertain as it depends on lot of factors and business has to run anyhow. what is your opinion. hope for immediate reply .

Thanks

 

[mr.preetsingh]

My dad has a firm and now he's wanting me to take over as a owner. but iam skeptical should i go in for partnership with dad or ownership as iam also applying for canada express entry. though i have been working till now and have experience of 7+ years in HR field . so my question is.

1.will having a business in my name cause any issues for canada immigration?
2.is partnership easier to show for immigration?
3. can i hold a business in India in my name and use its earning in canda?
4. What if we don't show business at all?and show my work experience. will it be ok?

because immigrating is uncertain as it depends on lot of factors and business has to run anyhow. what is your opinion. hope for immediate reply .

Thanks

Do not disclose the business. Try to put it on your mother's name, then there will not be any tax problem in future as well.

 

[rahul5]

Do not disclose the business. Try to put it on your mother's name, then there will not be any tax problem in future as well.

Thanks for your quick response. What tax problems could arise if my name is in partnership instead of ownership? as it has to be me in the records or i can wait till i file my application for EE?

can i still hold a business in India if i get PR?

 

[mr.preetsingh]

Thanks for your quick response. What tax problems could arise if my name is in partnership instead of ownership? as it has to be me in the records or i can wait till i file my application for EE?

can i still hold a business in India if i get PR?

If you are out of India for more than 180 days, you become an NRI, and then you are exempted to pay taxes in India. This is for Individual employees. You should check with your accounts or Finance team about it.