Buying a Business for getting Permanent Residency in Canada
There are many new opportunities waiting for entrepreneurs who wish to immigrate to Canada and establish their business there. It is a challenging and welcoming environment that facilitates the admission of business people to the amazing country. C However, getting eligible for getting permanent residency may not be easy for everyone under current rules, hence buying a business for getting Permanent Residency in Canada is one of the easy options for those failing to get sufficient score under CRS for express entry immigration to Canada
Buying a Business for Getting Permanent Residency In Canada
Here are some of the best ways so that you can make the best of your available options to buy a Business in Canada that matches your interest, Skills and Liking
To do business in Canada, one has to only apply to some authorized business immigration office outside of Canada. You and your immediate family will be issued a visa if you happen to meet all the requirements.
How to Identify a Business, and Negotiate Best Price for it for getting Permanent Residency in Canada?
- Do a Quick Check about the Business you Like, its potential market size in Canada
- Identify a Good Broking firm that will identify a good business for you as well as train you for working in Canadian Business culture
- Do some research to understand and select advisors, trade partners, contacts in the industry, banking circles.
Different ways to invest in a business in Canada
Basically, there are four ways in which one can invest into a business:
1. Buying a Business
When you think of buying a business fully, then there is of course moderate risk associated with it. The investment that you have to make is also pretty high and the start-up time is fast. You may also face some challenges to start the business and the returns that you get are also relative to how much progressive the business is.
2. Purchasing a Franchise
There is least risk for you if you happen to take a franchise of an already existing chain of business. The cost associated with it is also not very much so as to burn a hole in your pocket.
3. Starting a business from scratch
In this kind of venture, the risk associated is very high and it is also difficult to start it. You will need a lot of ground work to establish yourself, be known to people, make contacts etc. Basically, it will take a lot of time to set up, but once the initial work is done and the business picks up, then it will be an easy ride ahead!
If you think of buying some part of the share in the business, the cost associated with it is high but the risk may be low or moderate.
Two categories to immigrate to Canada for business
The businessman must satisfy the government of the following pointers:
- He is either a senior executive or has operated a business outside of Canada for at least 2 years
- Should be willing to invest 800,000 CD$ in a government fixed deposit for a time frame of five years without any interest. This investment is made after one goes through an interview.
For Entrepreneur Category, one must satisfy the government of the following pointers:
- He should have the intention and the ability to either establish a business from scratch or purchase it in order to invest in Canada.
- He/she should be able in running and managing a business venture in Canada.
- There should be at least one job that is created for a citizen of Canada or any permanent resident.
Related Read- Not Eligible for Express Entry? Consider Investor Category of Immigration