How to Qualify and Purchase Your Very Own Business in Canada

Blog

How to Qualify and Purchase Your Very Own Business in Canada

Many countries worldwide offer countless opportunities for their immigrants, but no other country has all the welcome privileges that of Canada. 

You may have heard how the U.S. and the United Arab Emirates offer certain spots within their country just so foreign investors would be able to make it big in their regions, and that is an opportunity worth taking.

Still, their regulations and technicalities may turn out to be too restrictive towards their immigrant investors, much so that they may be discouraged from doing any business in the process. 

In Canada, the story is way different than that. Various qualifications may allow you to establish or buy your own business in the country, and they are all strict yet manageable to undergo. If you are one of those aspiring to be a successful entrepreneur in Canada, look no further than the following bits of information we have written below. 

Not only would they help you prepare all the necessary paperwork, but they may also orient you regarding the technicalities within the process.

What Are the Qualifications?

Even though you weren’t naturally born a Canadian, you are still eligible to buy or establish your own business in the country, given that you meet the following criteria.

  • Be a foreign investor. Take note that you must already have your assets and own business in your country of origin by this time. This is a must, as you will be required to prove that you already have years of experience in managerial positions.
  • You were already able to scout out assets in Canada. By having a couple of connections and business associates residing in Canada, you will be allowed to let them find assets for you to invest in, after which you may avail them to support your immigration entry.
  • You can speak multiple languages, two of which are English and French. You wouldn’t manage your business well if there were a language barrier between you and your potential employees.

How Do I Buy a Business in Canada?

There are a couple of methods and preparations that go with purchasing a business in Canada. Some of which are listed below.

  • You Need to Have a Capital for the Business That You Are Planning to Buy

Yes, you need the money as it will be one of the first few things that will be asked of you by the immigration personnel. There is no point in going through with the application if you do not have the appropriate amount to buy your intended venture. 

Another reason this will be required is for the Canadian government to check your income tax and see if you haven’t been skipping your payments back in your country.

  • You Need to Study the Technicalities of the Contract

Be sure to ask about the sales agreement that is indicated on the contract. This is important as it will dictate the price of each asset that you will be purchasing. 

Don’t worry—you will be given a fair price. The laws of the country regulate even this type of transaction. After reading the whole thing, clarify whatever details you may have missed and ensure that both parties understand the agreement before signing anything.

  • You Must Present a Business Plan That Will Prove That You Are Serious about the Venture

You may be the upcoming boss of a new Canadian company, but remember, your employees will still be Canadian nationals, so you need to prove that they will all be paid in full and that you will take care of them as extended assets of the company. 

A business plan will at least confirm your good intentions of establishing a good, honest business—nothing more, nothing less.

Conclusion

Purchasing a business in Canada is quite simple if you already have the needed assets for new investment. Take note of all the qualifications and business acquisition tips to prepare for the next chapter of your life. Plan now, gather your capital, and succeed soon!

If you’re looking for the best way to immigrate to Canada, look no further than our expertise here at Bright Immigration. We specialize in sponsor immigration, business and investment immigration, study immigration, among other things. Contact us at info@brightimmigration.com or call 1-888-404-8472 for more information.

https://www.brightimmigration.com/wp-content/uploads/2018/05/bright-immigration-small-logo.png

Expert help, expert care

Our professionals make the difference. Our representatives are recognized by the Immigration Consultants of Canada Regulatory Council and Law Society of Upper Canada. We are guided by our commitment to professionalism, ethics, and belief in providing our client with access to quality legal care and immigration help. You can rest assured that you are well represented and protected when you choose Bright.

Expert help, expert care

Our professionals make the difference. Our representatives are recognized by the Immigration Consultants of Canada Regulatory Council and Law Society of Upper Canada. We are guided by our commitment to professionalism, ethics, and belief in providing our client with access to quality legal care and immigration help. You can rest assured that you are well represented and protected when you choose Bright.
https://www.brightimmigration.com/wp-content/uploads/2018/06/02de21_355a63a778f144c9aa22ae346e7382bf_mv2.jpg
https://www.brightimmigration.com/wp-content/uploads/2018/06/02de21_4ffe06df2054451aad1719dd09143de0_mv2.jpg
https://www.brightimmigration.com/wp-content/uploads/2018/06/02de21_90579b4f10fc4737ab0e9568bcf8f403_mv2.png
https://www.brightimmigration.com/wp-content/uploads/2018/06/expertadvice-320x172.jpg
https://www.brightimmigration.com/wp-content/uploads/2018/06/02de21_c8587f8ad8954aca8edcf95d273979aa_mv2.jpg
https://www.brightimmigration.com/wp-content/uploads/2018/06/797d4f7bd38807068c01721d5b77f4f3-320x192.png

Copyright © 2019 Bright Immigration – Canada Immigration Services

Inbound Marketing by Jumpfactor