View Full Version : Ownership of Canadian Aviation Companies?
saddest aviator
28th Jan 2005, 17:14
Can anyone help me to find out the rules regarding the ownership by a foreign national investing in a small Canadian Aviation company teaching people to fly.Tried in vain to search Transport Canadas web site.
Thanks in anticipation
rotornut
28th Jan 2005, 20:05
This might help:
http://investincanada.gc.ca/english/home2.asp?x=1&t=1
Good luck!
You likely didn't find anything on the Transport Canada website as the ownership requirements are specified in the Canada Transportation Act, which is the responsibility of the Canadian Transportation Agency.
Section 55(1) of the Act includes the following information:
"Canadian" means a Canadian citizen or a permanent resident within the meaning of subsection 2(1) of the Immigration and Refugee Protection Act, a government in Canada or an agent of such a government or a corporation or other entity that is incorporated or formed under the laws of Canada or a province, that is controlled in fact by Canadians and of which at least seventy-five per cent, or such lesser percentage as the Governor in Council may by regulation specify, of the voting interests are owned and controlled by Canadians;
You will have to actually contact the CTA to find out exactly how this would apply to your situation.
Canadian Transportation Agency - Licensing (http://www.cta-otc.gc.ca/air-aerien/licensing/index_e.html)
Canada Transportation Act - Part II Air Transportation (http://laws.justice.gc.ca/en/C-10.4/24905.html)
Canadian Transportation Agency - Contact Us (http://www.cta-otc.gc.ca/contact/index_e.html)