# Incorporating a business in Ontario



## paulrstanlee (Nov 29, 2020)

Hi There,

Hope everyone is safe.
I'm new to this forum, and I need to clarify some doubts.
I'm a U.S. citizen, and recently, I have moved to Canada. I'm staying in Ontario with my cousin. I have applied for PR. My cousin wants to make me his business partner, and he has plans to incorporate his business. We don't know whether there are any downsides to incorporating a business. As I'm not a Canadian citizen, is it possible for me to become my cousin's biz partner? Is PR necessary for this? How long will it take to get PR? What will be the other complications that may arise in this matter as I'm a non-Canadian? Can someone help me with this?

Thanks!


----------



## NickZ (Jun 26, 2009)

paulrstanlee said:


> What will be the other complications that may arise in this matter as I'm a non-Canadian? Can someone help me with this?
> 
> Thanks!


There are a couple of types of businesses that by law can only be controlled by Canadians. But unless you're planning on becoming one of the big six banks or Bell Canada I can't think of any issue with not being a citizen. 

I assume you're talking to a lawyer about all the paperwork?


----------



## TraceyTaylorwnS (Dec 9, 2020)

Oh, I was there and in order to register a company at some address you will need to spend a lot of time discussing the details with the city authorities and signing documents, so this is a very bad idea ... My friend knew about this and as soon as he had there was a chance to open a business there, then he chose Virtual Address - 1,000 Address Locations Worldwide | iPostal1 because this is the only service where you can reliably rent a virtual address for 100 bucks a month and use it without fear of data leakage ... cool service so you can try but it's up to you anyway.


----------

