FREQUENTLY ASKED QUESTIONS ON BUSINESS SERVICES
Q: What’s new in setting up a business in British Columbia and Canada?
A: British Columbia has a new law governing how companies incorporated in British Columbia will be established and will be operated.
Q: What are some of the main immigration issues facing a corporation setting up business or operating a business in British Columbia and Canada?
A: When a businessman is doing preliminary research on establishing a business in Canada a visitor visa or business visitor visa will generally be required. When the business is being established the initial head of the business in Canada will need a work visa. Other executives and technical staff can visit from the non-Canadian home country or head office. These people will need visitor visas or business visitor visas. If a business executive wishes to stay in Canada permanently he can apply for a Canadian Landed Immigrant visa. After obtaining permanent status the business executive will need to obtain a Permanent Resident Card.
Q: What are some of the different types of business structures available to do business in Canada.
A: Some of the most common types of business structures are: sole proprietorship; partnership; limited partnership; corporation; and joint venture.
Q: What do you need to do to incorporate a company?
A: If you wish to do business in British Columbia many people incorporate a company. The two most common types are a British Columbia company or a Canadian Federal company.
Q: If our business hires employees do we need employment contracts?
A: In most cases it is recommended an employment contract be signed by the employer and the employee. An employment contract clarifies all parties understanding of the terms of employment and serves as a good checklist of what needs to be covered.
Q: Do I need a lawyer to help me to purchase real estate in Canada?
A: In Canada there are different rules and regulations concerning purchasing real estate in different provinces such as British Columbia, Alberta and Ontario. Most people hire a lawyer to assist in making the purchase proceed smoothly and effectively.
Q: If I decide to purchase a business, should I purchase the assets or the shares of the company that owns the business?
A: If you are more concerned about protecting yourself from hidden liabilities an asset purchase may be the option for you. If you are more interested in obtaining the continuing goodwill associated with the company’s name and any tax losses attached to the company you may wish to purchase the shares.
Q: If I have been successful in obtaining financing for my business in my own country will it be much different trying to obtain financing in Canada?
A: Yes. In Canada different banks have different policies towards non-Canadians and non-Canadians the bank has not dealt with in Canada. As well the types of security the banks may require from you to secure the borrowing may have different rules, regulations an requirements than you are used to in your own country.
Brian Edward Tadayoshi Tsuji
Canadian Immigration Lawyer
2800 Park Place
666 Burrard Street
Vancouver, British Columbia, Canada, V6C 2Z7
Tel:(604) 643-6496 Fax:(604) 605-3596