Dear fellow rein members,
I am a newbie and a new immigrant (less than 3 years) running my own recruitment business bringing in Filipino Foreign Workers to work in Edmonton. I put all these workers in my own property or lease a property for them to stay (buy by the yard and sell by the foot). I was wondering if it is a good idea to buy a aged & shelf corp as i want to restructure to limit my liability
The following is what i read from the website:
Instant availability & fast delivery.
[list type=decimal][*]Immediately own a company with a corporate history.[*]Show longevity and enhance your image with customers and lenders.[*]Easier to obtain business credit cards and business credit lines.Often, lenders require a business to have been in existence from six months to two years or more before lending it money.Ability to borrow money from banks.Ability to secure bids on government contracts. Many government agencies will only sign contracts with a business that has been in business for at least two years.[/list type=decimal]I was thinking about the other advantages are also the following:
a. Having 12 months of PD7A forms (the returns that Rev Canada send back to you for your EI,CPP contribution for the worker) will help me to get workers to expand my business.
b. losses can be use to offset income - not sure if it is ok here in Canada
If the above is a workable, where do we find these companies, Lawyer, Accountant, Book keeper or even Realtor for business that are selling due to retirement, partner disagreement and etc.
Looking forward to your kind advise.
I am a newbie and a new immigrant (less than 3 years) running my own recruitment business bringing in Filipino Foreign Workers to work in Edmonton. I put all these workers in my own property or lease a property for them to stay (buy by the yard and sell by the foot). I was wondering if it is a good idea to buy a aged & shelf corp as i want to restructure to limit my liability
The following is what i read from the website:
Instant availability & fast delivery.
[list type=decimal][*]Immediately own a company with a corporate history.[*]Show longevity and enhance your image with customers and lenders.[*]Easier to obtain business credit cards and business credit lines.Often, lenders require a business to have been in existence from six months to two years or more before lending it money.Ability to borrow money from banks.Ability to secure bids on government contracts. Many government agencies will only sign contracts with a business that has been in business for at least two years.[/list type=decimal]I was thinking about the other advantages are also the following:
a. Having 12 months of PD7A forms (the returns that Rev Canada send back to you for your EI,CPP contribution for the worker) will help me to get workers to expand my business.
b. losses can be use to offset income - not sure if it is ok here in Canada
If the above is a workable, where do we find these companies, Lawyer, Accountant, Book keeper or even Realtor for business that are selling due to retirement, partner disagreement and etc.
Looking forward to your kind advise.