From Russia to Canada in 1.5 Months by Buying a Business

From Russia to Canada in 1.5 Months by Buying a Business

If you are an accomplished professional from Russia, you may be eligible to relocate to Canada by investing in a business in Canada, just like our client Ms. L.R. has recently done. Ms. L.R. was recently approved to come to Canada as an entrepreneur after she acquired a small business in Victoria, BC, Canada, for $40,000 (forty thousand dollars)!

Please read the full story below to understand the details of her case.

Background Information

Our client is an accomplished professional hairdresser from Moscow, Russia.

She intended to relocate to Canada as an entrepreneur to run her own business. She also had minimal capital, and her budget was around CAD $50,000. She was looking for a good business in Canada that was a good match for her background, skills and her professional aspirations.

Ms. L.R. retained our firm in September of 2022 to assist her in finding the right business to invest in and relocate to Canada as a self-employed professional.

Investment & Relocation Process

Step 1: Finding a Business & Company Formation: We assisted Ms. L.R. in identifying the right business that would closely match her background and skills, fit her investment budget, and meet the requirements of the Immigration and Refugee Protection Act (IRPA). After around 1 month of searching, we found a small hair salon for sale in Victoria, BC, for $38,000. The business was profitable, had no debts, and generated around $40,000 per year for its owner (who was also a hairdresser). After due diligence checks, Ms. L.R. decided to acquire that business.

Step 2: Negotiating the Deal & Business Plan: Next, we assisted Ms. L.R. in negotiating a deal with the business owner. We facilitated the negotiations between Ms. L.R. and the seller, and both parties agreed to postpone the purchase date until the Canadian immigration authorities approved Ms. L.R.’s application. Once the parties reached an agreement, our team assisted Ms. L.R. in developing a business plan for her proposed business. We also assisted Ms. L.R. in opening a corporate bank account in Canada.

Step 3: Filing an Immigration Application: Once the agreement with the seller was reached, our team filed Ms. L.R.’s application for a Canadian work permit under the C11 Entrepreneur Class.

Step 4: Decision: It took the IRCC around 1.5 months to approve the application, and we thank the IRCC for such speedy processing!

Timelines

  • September 29, 2022 – We were hired to assist Ms. L.R. with her relocation plans;
  • October 20, 2022 – Agreement reached with the seller after negotiations and due diligence;
  • November 5, 2022 – Sobirovs submitted an Application for a Work Permit under the Entrepreneur stream;
  • December 17, 2022 – Ms. L.R.’s application was approved.

Congratulations to our client! We wish her great success in further developing her new business in Canada!

How Sobirovs Can Help You

If you are an entrepreneur from Russia on a limited budget and want to establish your business in Canada, contact us by booking a 1-hour Strategy Meeting with our experienced lawyer. We might have solutions for you!