Sole proprietorship in maintained status

[bond_thefrank]

Hello All,
I am wondering if we can register the sole proprietorship while they are in their maintained status (implied)? I have been waiting for my PGWP and TR to PR. I am working on my project which I am going to propose to one of the clients. To do that I have to have a business with a company name.
I have researched everywhere but couldn't find the answer if I am allowed to register a business or I have to wait for my PR.

I would appreciate your thoughts on this matter.

Thanks in advance.

 

[Copingwithlife]

Hello All,
I am wondering if we can register the sole proprietorship while they are in their maintained status (implied)? I have been waiting for my PGWP and TR to PR. I am working on my project which I am going to propose to one of the clients. To do that I have to have a business with a company name.
I have researched everywhere but couldn't find the answer if I am allowed to register a business or I have to wait for my PR.

I would appreciate your thoughts on this matter.

Thanks in advance.

A sole proprietorship is when you , as the individual are the legal entity . When you create a corporation, that is the legal entity . Two totally different types of entities. I don’t know what province you’re in , but here’s an example if you’re in Ontario. You’d register for a master business license . It’s at this point you’d register a business name in the province .
If it’s a corporation, you’d register a corporation under the province . Example
Xxxxxx big bird Ltd .
You would be listed as a owner /director for the company.
I would do ALOT of research prior to incorporating. As a sole proprietor, you file your taxes with your personal income tax along with a T1135, for business professional income . If it’s a corporation you file a T2 for the corporation. It’s more complex and if you use an accountant, that can cost over $1000 each year, depending on the complexity. As well if the business revenue is more than 30k over 4 rolling calendar quarters you are required to register with the CRA and get a BN for GST HST purposes.
As for registering , and it’s a sole prop, that’s with the province. If it’s over the 30k threshold i mentioned and YOUR SIN STARTS with a 9, you have to register your GST HST account as a non resident. It’s not done over the phone . You have to fill in a RC 1 and send it it a regional tax processing centre . For Ontario that’s either in London , and the Windsor office processes those as well . DO NOT send them to Sudbury . You do, and it’s in gods hands . Aka, processing times will be unknown

 

[bond_thefrank]

Hello Copingwithlife,
Thank you for your detailed information.
I am residing at BC.
My question is related mainly related with the immigration as I am in maintained status and wondering if I can register the sole proprietorship. Does registering the business would hamper my PR process or not?

Appreciate other details that might help me on future.

Thanks