Can I buy a business in Canada if I am a newcomer and not yet a citizen?

A newcomer who wants to buy a Canadian business meets two separate federal rules. One is the Investment Canada Act, which looks at who is making the investment. The other is the work-authorization rule in the Immigration and Refugee Protection Regulations, which looks at whether a foreign national may work in Canada. Neither source read for this page makes citizenship a condition of buying. This page is general information and does not say which category you fall into.

How the Investment Canada Act treats status

The Act’s definition of “Canadian” has several limbs. One covers a permanent resident who has been ordinarily resident in Canada for not more than one year after first becoming eligible to apply for Canadian citizenship. Section 11 then makes an investment by a non-Canadian to establish a new Canadian business, or to acquire control of one in any manner described in subsection 28(1), subject to notification, unless the investment is reviewable under section 14. Part IV.1 of the Act separately allows a national security review of an investment by a non-Canadian. Which side of that line a person sits on depends on their status and dates, so confirm it with a lawyer. For the notification and review split itself, see can a foreign buyer buy a Canadian business.

Working in the business is a different question

Section 196 of the Regulations says a foreign national must not work in Canada unless authorized to do so by a work permit or the Regulations. IRCC’s page on work permit types, read 25 October 2026, describes an employer-specific permit and an open permit, and says the open permit is only available in certain situations. None of the sources read says that owning shares or assets needs no permit, or that it does. They address investment notification and work authorization as two separate questions, so ask about both before signing.

Who may give immigration advice

Deavo is not an immigration adviser. IRCC’s page on representatives, read 25 October 2026, says that if you pay a representative in any way, that person must be authorized, and that you do not need to hire one. Only licensed consultants (RCICs), lawyers or Quebec notaries, and paralegals who are members of a provincial or territorial law society, may give immigration advice for pay: IRCC lists these as the authorized paid representatives. Use IRCC’s official program pages for current rules, because programs change.