Yes, incorporation is a choice. If there is an urgent business need, then the entrepreneur can go ahead and incorporate before becoming a permanent residence.
However, the corporation details will need to be updated again (once the applicant receives PR) for the CCPC tax break.
the applicant must meet the following criteria or intend to meet them upon receiving permanent residence:
the applicant provides active and ongoing management of the business from within Canada
an essential part of the business’s operations are conducted in Canada . Such operations include, but are not limited to:
physical location
facilities
equipment
inventory
warehousing
management information systems
staff
the business is incorporated in Canada
Note: If the first 2 criteria in this list are not met upon application, the officer must be satisfied that the applicant truly intends to fulfil these upon receiving permanent residence.
Furthermore, in some cases, the business may be considered a qualifying business even if it is not yet incorporated; however, the applicant must intend to incorporate the business in Canada after they have been issued the permanent resident visa.
my advice :
Startup means you want to address a problem in a timely manner with the minimum resources which could scale fast.
nowadays, startup visa takes about 12 months. time you need to spend to find a designated institution and pitch your business plan least take 6 month to get a letter of support. ( 18 months till now )
you may need another month or 2 months to come and land , settle in Canada , register the business!?? Holy cramp!
you just missed 20 months. is the business idea yet new and could bring its initial values? sure not. this is something CIC soon or late should understand it or maybe they already know it ? thats why they give 2 weeks processing work permit for essential applicant to come and do not loose time.
Lastly : if you really born as an Entrepreneur, you should not burn the time. find someone or ask the incubator to support you incorporate in Canada even before you submit your application and start working right away . as an Entrepreneur you do not need to be on payroll.
Startup = Right idea , right team in the right time.
Many incubators I spoke with are looking for startups with 'existing revenue' not those at idea stage. I guess they are looking for entrepreneurs who have created a solid business outside Canada and are simply moving it here to pay taxes.
If a Start-up business is up and running - or has potential customers - then the entrepreneur(s) can begin billing and collecting receivables from his/her home country if not already doing so.
Yes, incorporation is a choice. If there is an urgent business need, then the entrepreneur can go ahead and incorporate before becoming a permanent residence.
However, the corporation details will need to be updated again (once the applicant receives PR) for the CCPC tax break.
Hi again,
I initially mentioned and again insisting on this :
Effective April 2018
“Officer must be satisfied that you will incorporate and run your business once receive your Pr”
That means more power for officers to refuse the application. So its not all about urgent business need, but at least building more trust with the case officer. I however know it maybe hard to find a Canadian director as per act at least 20% of directors must be Canadian resident.
If you have an existing business or potential customers, then you can receive (or begin receiving) payments in your home country. Incorporation in Canada has nothing to do with financial transactions. Preferable yes, but not an absolute necessity.
That is where the due diligence process kicks in. Our SUV application had several additional documentation requests, like the proof of business existence and structure, bank statements, tax returns, reference letters from clients etc.
Last edited:
AdUnit Name: [ThreadView]
Enabled: [Yes],
Viewed On: [Desktop],
Dimensions: [[250,250],[300,300],[970,250],[600,300],[600,480v],'fluid']
CampaignId: [/22646143967/candadavisa/forum_in_thread],
forumSection: Immigration to Canada, subForumSection: Business Immigration
Many incubators I spoke with are looking for startups with 'existing revenue' not those at idea stage. I guess they are looking for entrepreneurs who have created a solid business outside Canada and are simply moving it here to pay taxes.
That is where the due diligence process kicks in. Our SUV application had several additional documentation requests, like the proof of business existence and structure, bank statements, tax returns, reference letters from clients etc.
not only the due diligence ( which actually perform by incubator not officer) , but also now the officer may ask for a peer review which will be conducted by third parties to make sure the application are assessed with the community standards blah blah.
Anyhow, its a time consuming and very frustrating process. I wish everyone to be succeed in this journey.
In my last post, I referred to the due diligence by IRCC - they asked for all the extra paperwork/ADR during the application process.
Agree - the SUV timeline and process isn't clear at all and very subjective.
Exactly !!! My application has been processed 11 month ago .and i am outlander had existing business outside Canada with stable revenue and profit. .till now have no clue that 12 months frame will applied to me or not,still under background check .was that means I passed the due diligent check already?
Exactly !!! My application has been processed 11 month ago .and i am outlander had existing business outside Canada with stable revenue and profit. .till now have no clue that 12 months frame will applied to me or not,still under background check .was that means I passed the due diligent check already?
