Can a US citizen buy a Business in Canada or do you have to be a Canadian citizen?

[masmdu]

Thanks for any info anybody can provide.

I have found what at first glance looks like a decent business for sale in Victoria BC (a pizza shop).

It is not valued high enough to meet the entrepreneur immigration requirements but I still would be interested in possibly purchasing it if it is allowed. That is to say if a US citizen can purchase a Canadian business.

If so, then I can figure out the immigration a alternate way.

Any helpful comments would be most appreciated.

TIA

[MADem]

1. Try crossposting your question in the Canada forum

I'd guess they're kinda reciprocal--I know a Canadian with a US business--but I honestly don't know the answer.

I'd like to know, myself!!

[mirrera]

2. I am interested as well...

Let me know what you find out. I have been looking for a business with housing of some kind, like a B&B. I don't know the law though.

[Sen. Walter Sobchak]

3. You could buy the business, and then try to hire yourself with a NAFTA professional visa

Under NAFTA citizens of the US, Mexico and Canada are entitled to a special immigration status for those deemed professionals.

However, these professional visas are not an avenue to permanent residency.

[LakeSamish706]

4. But I think as a business owner, you are entitled to manage your business...

Not real sure what is required though.... You can probably find what you want at https://blrscr3.egs-seg.gc.ca/TruePassApp/TruePassFrameset.jsp?visibleFrameURL=https://blrscr3.egs-seg.gc.ca/sc/msca-mdsc/portal-portail/pro/portal/page/portal/msca/private/home&title=Service%20Canada

Seems to be most information there for Canadians and Americans...

[Sen. Walter Sobchak]

5. there is no automatic right of residency for modest foreign investors

however if you own a business in the NAFTA zone you can use a NAFTA professional visa to hire yourself as an employee of your foreign enterprise and legally work in Canada or Mexico.

NAFTA professional visas are extremely easy to get, however they are of limited appeal because it only allows you to work, I assume the interest here is to use the business to become a permanent resident of Canada. Even American H1B's can be used as a path to a green card, a TN1 or TN2 visa isn't a path to anything other than a W2, T4 or whatever the Mexicans call it.

In which case a modest business is probably not the way to go,

[LakeSamish706]

7. Thanks for the info. Very helpfull... n/t

[Lydia Leftcoast]

6. Ask your local Canadian consulate

I'm sure that few if any DUers would know.

[Sen. Walter Sobchak]

8. a Canadian consolate in the US will refer you to the "Invest in Canada Bureau"

[BlooInBloo]

11. Judging from that name, the answer would appear to be "yes". lol!

[Old Codger]

9. last I heard

And admittedly a while back you could be a business owner in Canada only if a canadian citizen owned at least 10% of the business. This was quite a while back thoough.

[treestar]

10. Ask a Canadian immigration lawyer

Familiar with the Canadian immigration law

[Canuckistanian]

12. You're joking, right?

An AMERICAN buy a CANADIAN business?

We've never heard of such a thing.

http://www.answers.com/topic/foreign-ownership-of-companies-of-canada

:sarcasm: