Funding notification beneath the Funding Canada Act
In case you are not a Canadian citizen and you might be planning on doing enterprise in Canada, you will want to meet a number of authorized necessities (we have now already addressed the obligation to register your online business).
Much less identified is the duty to inform the Canadian authorities every and each time you begin a brand new enterprise exercise in Canada and every time you purchase management of an present Canadian enterprise.
The needs of the Funding Canada Act are “to supply for the evaluate of great investments in Canada by non-Canadians in a way that encourages funding, financial progress and employment alternatives in Canada and to supply for the evaluate of investments in Canada by non-Canadians that might be injurious to nationwide safety.”
Extra particularly, and typically, in case you are a non-Canadian and you intend to ascertain a brand new Canadian enterprise or to accumulate an present Canadian enterprise, then you should file a notification no later than thirty days after the implementation of the funding.
In another situations, this funding will probably be topic to a governmental evaluate, similar to when there’s an acquisition of a Canadian enterprise valued at an quantity exceeding the present threshold beneath the Funding Canada Act.
So make certain so as to add this job to your guidelines… and welcome to Canada!
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