Business For Sale With LMIA...

Old Mar 30th 2015, 2:59 pm
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Default Business For Sale With LMIA...

I've been given details of a B&B for sale which is being marketed with LMIA in place and stating that it 'offers foreign buyers an opportunity to "fast track" entry into Canada, leading to permanent residency'

Surely this would never work? Although I'm not going to share the link in case it might!!
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Old Mar 30th 2015, 3:15 pm
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Default Re: Business For Sale With LMIA...

Sounds well dodgy to me. Maybe ask them for a copy of the LMIA documentation and post it here - I'm sure someone would be able to comment on it's likely validity or otherwise.
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Old Mar 30th 2015, 3:18 pm
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Default Re: Business For Sale With LMIA...

Nope, load of rubbish. They might have a LMIA in place, but buying the business wouldn't make any difference to that and there would certainly be no 'fast track' route to PR. Sounds like a scam to me!
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Old Mar 30th 2015, 5:40 pm
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Default Re: Business For Sale With LMIA...

Thats what I thought, but with it being marketed as blatantly as that on a major real estate website I was starting to wonder... Not that I've got the $1.25mil they're asking for it!
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Old Mar 30th 2015, 6:53 pm
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Default Re: Business For Sale With LMIA...

Maybe they just mean they've got blanket LMIA's in place for staff? Hard to say without seeing it, but certainly claiming buying it will get you a fast track to PR is a load of rubbish.
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Old Mar 30th 2015, 8:01 pm
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Default Re: Business For Sale With LMIA...

Originally Posted by dwight-van-man
Thats what I thought, but with it being marketed as blatantly as that on a major real estate website I was starting to wonder... Not that I've got the $1.25mil they're asking for it!
http://www.bbcanada.com/bb_forsale/hearthside
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Old Mar 30th 2015, 10:23 pm
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Default Re: Business For Sale With LMIA...

If you leased it and went in as operations manager...would that work?
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Old Mar 30th 2015, 10:24 pm
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Default Re: Business For Sale With LMIA...

1,2,3,4,5,....damn bit short in my change bottle... anyone loan me 1,149,995?
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Old Mar 30th 2015, 10:38 pm
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Default Re: Business For Sale With LMIA...

Did you notice reason for sale - 'Absentee Ownership' . Perhaps the 'Fast Track Entry' didn't work for the last guy either.
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Old Mar 30th 2015, 11:17 pm
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Default Re: Business For Sale With LMIA...

I learnt something from this ..............


all the years I've been in Canada, I've seen the phrase "turnkey operation" in regard to businesses such as hairdressers, shoe repair shops, cafes, etc ............


I always thought it meant a business that was all set up for DAILY business, ie, opened in the morning and closed in the evening, and no-one slept on the premises


obviously not, from this.

At least, if I was correct, I wouldn't like to be a senior or a guest living in a place where there was no-one on site all night
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Old Mar 31st 2015, 12:54 am
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Default Re: Business For Sale With LMIA...

Originally Posted by scilly
I learnt something from this ..............


all the years I've been in Canada, I've seen the phrase "turnkey operation" in regard to businesses such as hairdressers, shoe repair shops, cafes, etc ............


I always thought it meant a business that was all set up for DAILY business, ie, opened in the morning and closed in the evening, and no-one slept on the premises


obviously not, from this.

At least, if I was correct, I wouldn't like to be a senior or a guest living in a place where there was no-one on site all night
'Turnkey' is the commercial equivalent of the residential phrase 'move in ready'. It means all the buyer needs to do is open the door and start operations.
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Old Mar 31st 2015, 5:35 am
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Default Re: Business For Sale With LMIA...

yes ...........

I realised it was the commercial equivalent of "move in ready" ............... but I didn't realise that it could be applied to a B&B and Seniors Residence.


surely such a place would need staff both 24 hours a day .............. if you were to be an "absentee owner"?
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Old Mar 31st 2015, 8:59 am
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Default Re: Business For Sale With LMIA...

Yep, this is the place... I wondered if maybe they were planning on 'recruiting' the potential new owner first, hence the lease options thing... But yeah, a 24 hour business looking after OAP's doesn't sound too much fun...
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Old Mar 31st 2015, 4:15 pm
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Default Re: Business For Sale With LMIA...

Some provinces (i.e BC) do have a “regional business succession” classes for PNP nominations; however some business types i.e B&B’s / Dry cleaners, in certain geographical areas are excluded from the scheme.

Welcome BC - Regional Business Succession

Saskatchewan does have an “entrepreneur ” class of PNP, but not sure this would apply to the B&B / business in question
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