Parnell

Looking to relocate to Toronto and would like a recommendation for a firm to handle our PR visa
Am I right in the conditions for a PR visa on business would be:
Net worth? (>$2.5m)Funds bringing in for business? (>$300k)Employment opportunities for Canadians?Percentage control of business? (i.e. >51%)

Any idea on processing time?

christmasoompa

Hi, I've moved your post to your own thread - please do always start your own rather than tagging on somebody else's, particularly if it's an old thread.

Any particular reason you need to use a consultant?

What visa are you referring to? It's just that I can't tie up what you've said above with any particular program i.e. Start Up Visa or now defunct programs such as the Immigrant Investor Capital Prog or Investor Program etc. Are you referring to a PNP stream perhaps rather than a Federal program?

That will depend on the answer to the above - not sure what program you mean yet!

HTH.

Shard

Not sure if you get the same banner ad as I do...but there is always a "Mike Wilson" of Canada Immigration Solutions advertising on the BE site. Why not try him.

christmasoompa

He's one of the good guys too, I've met him quite a few times when I worked in immigration. Nice chap.

Shard

Didn't know you worked in immigration. No wonder you're so bloody knowledgeable on it.

Parnell

Thanks, will observe next time
Time, and focused elsewhere next few months so rather know its being dealt with in background. It will be a business cost also.
These were snippets I have heard over past week, was hoping someone would direct to a particular visa. Nor do I yet LOL

Shirtback

I *think* this is the latest info on "business" immigration to Ontario; it doesn't seem to quite match the criteria you mention (but I haven't read it in detail)

Ontario Immigrant Nominee Program: Comparison between Business Streams

Parnell

Thank you to both of you for that.
I have emailed him and are awaiting response.

Parnell

Thank you

Aviator

I wouldn't count on that. The immigration visa is for you to move to Canada, not your business or employees. If you plan on setting up a business, not sure CRA will see immigration fees or immigration lawyer fees as a start up cost.

Parnell

Your talking tax deductibility
I am talking business expense, whether its tax deductible or not, that's a coding issue for the accountants.
They are different, but for clarification as I am the IP and own over 90% of the business very strong case for it being tax deductible.

Aviator

How you pay for it matters not, however if it is out of the business as an expense, expenses are deducted from income to arrive at net profit and hence not taxed.

If it is paid for by the business, but not expensed, it has to come from and go somewhere on the books to balance. It is not so much coding as balancing the books.

Not quite sure what you mean by expenses and tax deductible being different. Within a corporation they are one and the same.

A legitimate business expense is by nature tax deductible. A payment made out of a corporation, but not a deductible business expense would end up going to shareholders loan account and this then becomes personal income, which is taxable.

Not following your rationale?

Tirytory

Our accountant insisted that our move (husband is incorporated) was an expense/tax deductible -same difference- and submitted to CRC, even though I insisted I was pretty sure it wasn't, and of course it wasn't. Cue more tax please...

Op... Out of interest all the other questions, boat, schooling etc and you're not actually sure of visa route yet. Doesn't the self employed route take several years...

Parnell

I think you are confusing tax accounting with business accounting.
- Retained earnings are balance of tax paid- Tax paid is separate exercise to taking accounting profit- The tax office does not determine internal expenditure policy, it just determines whether the expense is allowable for deduction for tax purposes.- The only thing post retained earnings is calculation of withholding tax credits in relation payment of dividends, that quite frankly only affects the value of the franking credit or payment of dividends gross.

Parnell

I don't think the self employed is relevant to myself. With proviso I have not looked into the details of what it entails.
Given what I have been told offline it appears a very simple process, whether its 6 or 12 weeks? The key things apparently in my favor are the points I mentioned in first post. Employment of over 10 people being key.
There does appear a lot of consistency across most countries for immigration linked to inward investment. I am just looking for the professional to handle the administration side of it.