Are you an entrepreneur looking to buy a business in Canada? Wondering how to make it happen from abroad? The story of ‘Aziz’ (not his real name), a determined business owner from Uzbekistan, may inspire you to take action. With careful planning and the proper support, Aziz was able to buy and transform a beloved local café in British Columbia. Here’s how he did it, the challenges he faced, and what made his journey successful.
Background Information
Aziz’s aimed to buy an existing company in BC for $100,000 and use the remaining capital to revitalize it with new ideas and investments. Here’s a snapshot of his background:
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Citizenship: Uzbekistan
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Industry: Café and hospitality
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Proposed Investment Amount: CAD $75,000 to buy the business, plus an additional CAD $125,000 for improvements
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Business Vision: To expand and enhance the café’s offerings while preserving its role as a cornerstone of the local community
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Language Ability: Fluent in English, with an IELTS score that exceeded program requirements
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Past Experience: Over 10 years in senior managerial roles, including experience running retail businesses
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Education: Bachelor of Laws and a certificate in Coffee House Management
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Age: 47 years old
Issues and Challenges
Buying a business in Canada from abroad is complex, and Aziz faced several key challenges:
Purchasing an existing business involves careful due diligence, negotiations, and meeting the IRCC’s significant benefit requirements. We helped Aziz search for a suitable business that matched his budget, performed background checks on the café, and negotiated a fair deal with the seller.
Without a Temporary Resident Visa, Aziz could not visit Canada to conduct an in-person interview with the seller or take another exploratory trip. Instead, we arranged an online exploratory trip, where he met with local stakeholders and even secured a letter of support from the town’s mayor.
Since Aziz couldn’t complete the business purchase without first securing his work permit, we worked closely with the seller to hold the business until his permit was approved.
Immigration Program: C11 LMIA-Exempt Work Permit
The C11 program is designed for entrepreneurs who can demonstrate that their business will bring significant benefits to Canada. It enabled Aziz to secure a work permit without requiring a Labour Market Impact Assessment (LMIA). Here’s how we supported him:
We supported Aziz in finding the right business by conducting a thorough search to identify options that would fit his budget and meet the C11 program’s requirements for significant benefits to Canada. Our team performed due diligence on various businesses, ultimately helping him select a viable café with strong community ties and growth potential. This ensured his investment aligned with his business goals and the program’s criteria.
Helped Aziz incorporate his company in Canada to facilitate the business purchase.
Collaborated to refine his business plan, focusing on revitalizing the café with new offerings and community events.
Provided evidence such as the letter from the mayor, plans to maintain existing jobs, and revitalization efforts to benefit the local economy.
Prepared a comprehensive application that clearly demonstrated how Aziz’s experience and investment would contribute to the community.
Application Outcome: Approved in 4 Months
Aziz’s work permit was approved within four months. Several factors contributed to the success of Aziz’s application:
We provided robust evidence, including a letter of support from the town’s mayor, showing how Aziz’s investment would bring benefits to the area economically.
Aziz’s intention to purchase a well-loved local business allowed the retiring owner to exit with capital while ensuring continuity for the community.
Aziz’s plan to improve the café and invest in new services was backed by substantial financial resources, showing his readiness to execute the vision.
Aziz was proactive in his approach, participating in online exploratory trips, meeting with stakeholders, and collaborating with us throughout the application process. His positive attitude and flexibility were instrumental in the case’s success.
How We Can Help
Navigating the process of buying a business in Canada through the C11 program involves more than just applying; it requires finding the right business, building a solid case for significant benefits, and connecting with the local community. In Aziz’s case, we provided comprehensive support, from identifying a suitable business and conducting due diligence to gathering evidence of significant benefits and facilitating introductions to community stakeholders. We also assisted in developing a strategic plan for improving the business and prepared a solid, well-documented application to maximize his chances of success.
Suppose you’re looking to buy a business in Canada. In that case, we can guide you through each process step, helping you find the right opportunity, navigate regulatory requirements, and build a business model that meets immigration program standards. Let us help you turn your business acquisition into a successful venture, just like we did for Aziz.
We congratulate Aziz on his successful journey and wish him continued success in Canada!
