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| Subject: Investor business question |
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Hi
My wife and I are considering a move to the West coast of Canada under the Business Investor application. We pass all the requirements for this type of application but there is one point we are not sure about.
Under the requirement of having a controlling share in a business for X number of years prior to application the formula is worked out on the share percentage.
My wife and I own the business outright on a partnership basis i.e. 50-50 split for tax reasons. As there has to be one applicant would I qualify as owning all of the business under these circumstances.
I am trying to get a little clarity on this point before going any further.
Regards to ALL
Paul
[11-01-2008,07:51]
[**.7.20.165]
Paul Zwierzanski |
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(in reply to: Investor business question)
R U doing a BC PNP Business application? Federal Business is two years out of five experience net worth $800,000.00 and then the Investment whether or not you take the loan option of one of the approved funds.
Roy
www.cvimmigration.com
[11-01-2008,09:07]
[**.55.216.204]
Roy |
(in reply to: Investor business question)
Investors: Who can apply
To be eligible under the Immigrant Investor Program, you must:
Have at least two years of business experience.
Find out more
Have a net worth of at least C$800,000 that was legally obtained, and be willing and able to make an investment of C$400,000.
Find out more
You must also show that you have enough money to support yourself and your dependants after you arrive in Canada.
Find out more
Obtain a minimum of 35 points in the selection grid.
Find out more
Meet medical and security requirements. You and your family members must pass a medical examination and security and criminal checks. You can find more information on both of these topics in the Quick Find section on the right-hand side of this page.
Meet any other requirements of Canadian or Quebec immigration regulations.
Be sure to read the fine print of the BC PNP Business option.
Some times fast is not all it is about.
Roy
www.cvimmigration.com
[11-01-2008,09:10]
[**.55.216.204]
Roy |
Thanks for the replies (in reply to: Investor business question)
Many thanks for your kind replies to my post.
We understand and pass ALL of the requirements for the Immigrant Investor Program, subject to medicals.
It is under the Investors definitions that we seek clarity.
i.e. under the definitions there is a paragraph;
Percentage of equity means in respect of a partnership or joint venture, the percentage of the profit or loss of the partnership or joint venture to which a foreign national or their spouse or common-law partner is entitled.
This assumes that the applicant has a percentage in the business, and that percentage forms the basis of the formula to work out the requirements needed.
We however, own ALL of the business, but have it split between us 50-50. Would it be looked upon as the main applicant having full control of the business and equity in it?
a mute point that needs to be clarified methinks.
Thanks again
Paul
[11-01-2008,10:19]
[**.7.20.165]
Paul Zwierzanski |
(in reply to: Investor business question)
YES
[11-01-2008,13:37]
[**.158.52.214]
Roy |
thanks (in reply to: Investor business question)
Hi Roy
Thanks for the reply. As a business person I like to know all the possible problems and quirks before making a decision. Best to know before than after!
Regards and best wishes for your answers
Paul
[11-01-2008,15:43]
[**.98.153.15]
Paul |
