Do I Need To Be Canadian To Launch A Business In British Columbia?
Actually, no. If you're not a citizen of Canada, go here to get this simple guide to starting a business in British Columbia.
As an immigrant, can I own a business?
Anyone can own a sole proprietorship, partnership or corporation in BC, regardless of their citizenship status. This makes B.C. the most flexible province in the country regarding non-resident businesses.
However, non-residents must meet the following mandatory requirements for starting a business.
It’s also important to know that owning a business does not affect your immigration status.
Conditions to Launch a Business Physical Location
Your company must have a physical address.
Work Permit
If you’re going to be working on your business in B.C., Immigration, Refugees and Citizenship Canada (IRCC) must grant you working status. Check out IRCC’s Work in Canada to find out how to obtain the correct permit for your needs.
Taxation
You need to submit a tax return if you’re generating Canadian revenue. Submitting a tax return requires a business number, which can be obtained by registering your business with the Canada Revenue Agency.
Canada Investment Application
You also need to apply to Investment Canada under the Canadian Investment Act. This act states that non-Canadians who wish to establish a Canadian business or acquire control of an existing business must submit an Investment Canada application for review.
What if I run my business outside of British Columbia?
The criteria for non-residents starting a business differs from province to territory. If you have a physical location outside of B.C., consult that region’s requirements found at the Canada Business Network.
What if I want to incorporate federally?
In most circumstances, at least 25 per cent of the directors of a corporation must be Canadian to incorporate with the federal government.
Exceptions
If there are less than four directors, then at least one of them must be Canadian.
If the corporation is operating in sectors with ownership restrictions or is operating in certain cultural sectors, the majority of directors must be Canadian.
