Just like registering a new business in Canada, purchasing an existing business does not require any immigration status or physical presence inside of Canada.

100% foreign ownership of companies is allowed, unless the company in question is strategically important for national security interests (typically these are rare cases for larger size deals).

The purchasing of an existing business requires due diligence unlike setting up a new business. A team of Chartered Professional Accountants and lawyers would be required to complete the audit, due diligence, and paperwork for a share and/or asset sale of the business.

Ownership of an existing business can be from minority shares of 1-49%, and all the way for majority ownership of 51-100%. The specifics of the deal are different for each case and depend on the agreement between the seller and buyer. The process is a bit more lengthy compared to setting up a new business and specific tax implications (back taxes, etc) have to be considered when purchasing an existing operation inside of Canada.

There are also many advantages of purchasing such a business which has an established presence with customers, market share, and vendor relationships. We have a team of preferred partners in assisting foreign buyers in purchasing a business inside of Canada.