Can Company Manager be shareholder ?

[salmannavid]

In the skilled worker class is it acceptable if a person working as manager in company is also its shareholder ?
Thanks

 

[explorer101]

In the skilled worker class is it acceptable if a person working as manager in company is also its shareholder ?
Thanks

If you see the financial securites act, it is permitted. Anyone can buy shares in a company. But manager in a company buying shares in that company would have to inform the management regarding it. Preferred shares -the company always know about it.

 

[barsindoo]

That is perfectly possible.

 

[SISH7255]

But the financial managers have some restrictions on buying and selling the shares. Because, they know the companies current and future financial position and major moves in near future. They might be punished for "Inside trading" if they do not follow certain rules.

Hope it helps

SISH7255

 

[salmannavid]

Actually I meant this from point of view of Canadian immigration in skilled worker category.

If im applying as skilled worker, and I show work experience as manager in company, then is it ok for me to be a share holder of that company as well ?

Because if I am share holder then it means i am part owner of the company so in that case wont this make me look self employed and hence not eligible in the skilled worker category ?

Thanks

 

[PAULPAYA]

Well, anytime when you purchase security or stock, you instandly redeem yourslef as a shareholder ...
regardless of which company's stock you buy ...

If you acquire your own company stock, whether it is through an option, or direct purchase ...
you may require to file "insider report" when entitle to a manager or above position of that company ...

On the other hands, I am not sure if CIC would even deem you on this matter though as I found below ...

Disclosure of funds

If you are carrying more than C$10,000, tell a Canadian official when you arrive in Canada. If you do not tell an official, you may be fined or put in prison. These funds could be in the form of:

• cash
• securities in bearer form (for example, stocks, bonds, debentures, treasury bills) or
• negotiable instruments in bearer form (for example, bankers' drafts, cheques, travellers' cheques or money orders).

Because in my opinion, how are you going to prove of funds in the 1st place ... or else is a misleading statement then ...

 

[chibiks]

i think what he is asking is if he can claim work experience in a company as a skilled worker that he is also a shareholder in.

 

[rupeshhari]

i am sure you can if your main duties pertain to those NOC. But i doubt you can write yourself a duties letter.

As an example, i know people who have worked as 1122 (business analyst - quite junior in a firm) and they received shares as part of their bonus. Guess what, they are working in the company and own shares. Perhaps yours might be a bit different if it is not a publically traded company but I would think it would be okay as long as you can prove you did the duties.

 

[PAULPAYA]

That's put this way if he simply asks:

Can Company Manager be Shareholder?

The answer is perfectly a YES.

In the skilled worker class is it acceptable if a person working as manager in company is also its shareholder ?

In my previous post & implication about the proof of funds ...
Stock can be one of the forms if you have poession of to prove in your financial statement ...

Let say if you purchase stocks & become a shareholder of the company before you even apply immigration ...
Doesn't that contradict your question & CIC statement in the 1st place once you arrive in Canada to show Canadian Official your stocks/funds ?!?!

Actually I meant this from point of view of Canadian immigration in skilled worker category.

If im applying as skilled worker, and I show work experience as manager in company, then is it ok for me to be a share holder of that company as well ?

Because if I am share holder then it means i am part owner of the company so in that case wont this make me look self employed and hence not eligible in the skilled worker category ?

Even if you have just one common share of the company, you instantly become that 0.000000000000000000000000000001% (not sure how many shares outstanding your company has) owner of the company ...

I guess the question should go back to you of how many shares you have for the company and if it's exceeding 50% of overall shares that actually owns the company ...
If that's the scenario, perhaps Canadian Official would think you are more qualified in other class than skill immigration tho ... i.e. Investors, entrepreneurs and self-employed people ...

i think what he is asking is if he can claim work experience in a company as a skilled worker that he is also a shareholder in.

I personally think work experience should be treated differently regardless whether or not he is a shareholder of the company tho ...
No offense, just my humble opinions ...