Receiving Financial Investment While Studying?

[Gaarzen]

Hey guys
I have a rather complex issue I know nothing about and would appreciate any help on the subject.
I'm an international student, soon coming to Canada to study with a study permit for a single year.
During the last couple of years and my upcoming time as a student I'm working and will be working on a personal project of mine and I'm hoping to get the public (in Kickstarter or IndieGoGo) to invest in it.
So, my question is, am I able to do that legally? Because as far as I know, I'm not working for anyone, I'm working on my own project which might receive an investment by others.

Thank you !

 

[sabby2612]

Hey guys
I have a rather complex issue I know nothing about and would appreciate any help on the subject.
I'm an international student, soon coming to Canada to study with a study permit for a single year.
During the last couple of years and my upcoming time as a student I'm working and will be working on a personal project of mine and I'm hoping to get the public (in Kickstarter or IndieGoGo) to invest in it.
So, my question is, am I able to do that legally? Because as far as I know, I'm not working for anyone, I'm working on my own project which might receive an investment by others.

Thank you !

Okay, it's time to read info in black and white on CIC. Though you can't, if you are getting involved in any kind of activities which generate revenue, i don't you can. lets see what others say on this.

 

[Gaarzen]

Thanks a lot for the reply
Does anyone know if it's possible and if so how to convert it to a legal operation ?
I mean, perhaps if I don't receive the investment and some financial body can keep it until it's relevant, or perhaps if I invest some of it in a business in Canada which could perhaps give me legitimization ?
Any idea would be most welcomed..

Thanks !

 

[sabby2612]

Thanks a lot for the reply
Does anyone know if it's possible and if so how to convert it to a legal operation ?
I mean, perhaps if I don't receive the investment and some financial body can keep it until it's relevant, or perhaps if I invest some of it in a business in Canada which could perhaps give me legitimization ?
Any idea would be most welcomed..

Thanks !

yeah until you can legitimately keep it with you, you can keep it with me, rofl. I will invest it on your behalf.

 

[Gaarzen]

Hi,

If you are generating any income in Canada while on a student permit apart from the 20 hrs/week of allowed work, it will be termed illegal. With a student visa, you won't be allowed to register your business, receive funding within canada and do business with associates.
Also, getting a PR would be difficult. You may want to check your eligibility for a Start-up visa here:


In your case, if you get lucky you won't be noticed but if you make any money it would be a case of tax evasion/illegal work which could result into deportation.

Working on your own business venture is always a good idea and you just need to find a way to tackle the situation. There is nothing in this world which can stop you from achieving what you want.

Had i been in your situation, I would register the business in India, work from canada in my personal time. Registering business on name of a family member would also save some trouble. Receive/send investment/funds from India and pay tax in India.
Above is just a suggestion!!

Thank you for helping out !
Am I able to do that? I mean, it would be very easy for me to keep my "business" in my home country, I never said it has to be a Canaduan business (I actually didn't see it as business at all).
Would your alternative make it legit in Canadian eyes?

 

[sabby2612]

Hi,

If you are generating any income in Canada while on a student permit apart from the 20 hrs/week of allowed work, it will be termed illegal. With a student visa, you won't be allowed to register your business, receive funding within canada and do business with associates.
Also, getting a PR would be difficult. You may want to check your eligibility for a Start-up visa here:
http://www.cic.gc.ca/ENGLISH/immigrate/business/start-up/index.asp

In your case, if you get lucky you won't be noticed but if you make any money it would be a case of tax evasion/illegal work which could result into deportation.

Working on your own business venture is always a good idea and you just need to find a way to tackle the situation. There is nothing in this world which can stop you from achieving what you want.

Had i been in your situation, I would register the business in India, work from canada in my personal time. Registering business on name of a family member would also save some trouble. Receive/send investment/funds from India and pay tax in India.
Above is just a suggestion!!

I agree with what Friday has said on Wednesday (rofl). Even if you avail the alternative by registering it in India even in the name of your relative and if it involves any part of you which generates revenue (profit), it's illegal. But then it's also true who really cares? People here have hell lot of tenants and don't pay taxes on income generated out of rents... anyway there is always a way, but talking about it being legal or not, it's not.

 

[Gaarzen]

As far as I know, I do not have 20 hours a week for work at all as an international student unless I apply for a student off campus work permit which has specific terms which I don't think I have.

 

[aamro1992]

I know people who do this and nobody raises any voice.. carry on

 

[Gaarzen]

Well I am looking for a legal solution.. I can not take the risk of being deported and the project I'll be working on is going to be high profile :\
Perhaps it would be legal to have a Canadian resident receive the investment for me and I would receive it when time is right ?

 

[Gaarzen]

Tax evasion in Canada is treated as a summary offence. Such a person could receive penalty up to 200% of the tax and/or up to 2 years imprisonment. A person on temporary resident status could be jailed, deported, penalized, and even banned to enter Canada.

A person on student permit is not authorized to engage in any kind of full time business on Canadian soil. You can work for a Canadian business to support, but only for 20 hours a week on an OCWP.

If you want everything to be legal, you may want to apply for a start-up visa(investor visa), seek PR and then continue your studies.

Yeah.. I can't have that..
And I already have a whole tuition plan so my only bet would be to work 20 hours a week on OCWP in case I somehow manage to get that. Will I be able to work like this and not for a Canadian business?
Thank you !!