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sole proprietorship on working hol visa

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  • 11-02-2015 2:26am
    #1
    stevplum
    Registered Users Posts: 49 ✭


    Hi all,
    I am just thinking of this as a possibility at the moment. I am over in Canada 4months now. I work full time for a company, but am thinking of giving this a go myself if I can.
    Is this a possibility? Can 1 set up a company on a working holiday visa?.
    Any help or advice would be greatly appreciated

    Thank you.


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    #2
    the_syco
    Registered Users Posts: 37,300 ✭✭✭✭the_syco


    stevplum wrote: »
    Can 1 set up a company on a working holiday visa?.
    Pretty sure you gotta apply for a business visa; http://www.cic.gc.ca/english/visit/business.asp


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    #3
    montreal2011
    Registered Users Posts: 295 ✭✭montreal2011


    This is for Federal Incorporation.
    What percentage of directors must be resident Canadian?
    As per the Canada Business Corporations Act, 25% of the directors must be "resident Canadian". (as per the definition in the Immigration Act)

    For example: if there are four directors, at least one must be resident Canadian. if there are 5 directors 2 must be resident Canadian etc…

    https://www.ic.gc.ca/eic/site/cd-dgc.nsf/eng/cs02194.html#percentage

    Whilst residency is sufficient intially, it will only suffice for a while. If you have PR status and make up that 25%, you must get citizenship within a short period of being eligible to continue being a (25% or more) director.

    Each province has their own rules if you just want to incorporate yourself provincially. I believe that in Quebec for example, you don't have to be "resident Canadian" to incorporate.

    Fill in the online form, pay $200, and you're incorporated federally.


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    #4
    fergusb
    Registered Users Posts: 331 ✭✭fergusb


    yes you can set up a business (in BC) on an IEC, I did it about 18 months ago, relatively straight forward to set up. But a couple of things to bear in mind:

    1. You have to do corporate taxes every year, they can be complex and a pain.
    2. You can charge a lot to the business, phone, internet, rent, car, transport etc. So can work out well financially
    3. You will not be 'working' as such. therefore getting PR while owning a company will be much more complex.

    I ended up going full time in a company, mainly because had I stayed as self-employed, I was told by a number of immigration consultants that it is unlikely that I could get PR unless I go down some of the more complex routes which are not as reliable and take much longer.


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