If you are making a new investment in Canada and you are a non-Canadian you must file either a Notification or an Application for Review. The Investment Canada Act is administrated by the Investment Review Division of Industry Canada. Dual filing requirements exist for all Cultural Investments in Canada.
Filing a Notification
Following is an overview of the process of filing a notification. Links to online forms are also available. The information comes directly from Industry Canada.
When do I have to file a Notification?
If you are a non-Canadian then you must file a notification each and every time you commence a new business activity in Canada and each time you acquire control of an existing Canadian business where the establishment or acquisition of control is not a reviewable transaction.
A Notification must be filed no later than thirty days after the implementation of the investment.
Frequently asked questions for this section:
Related Link
Dual Filing Requirements
Businesses that are considered cultural investments are subject to dual filing regulations. Examples of cultural investments include the publication, distribution or sale of:
- books
- videos or DVD’s
- music recordings
- other cultural items
Following is an overview of the dual filing requirements. Links to online forms are also available. The information comes directly from Industry Canada and the Department of Canadian Heritage.
Dual Filing Requirements
Filing requirements with both Industry Canada and the Department of Canadian Heritage
(NOTE: this is a summary of the official Guideline - to view the official Guideline text, click here)
These filing requirements apply where the investment involves businesses engaged in
both
Schedule IV activities and in other business activities, irrespective of the proportions
of these businesses included in the transaction. The dollar values indicated
are the total value of the assets of the Canadian business, calculated
in accordance with the Investment Canada Act . For further clarification,
please contact both the Investment Review Division of Industry Canada,
and the Cultural Sector Investment Review office of the Department
of Canadian Heritage.
In all cases where notification is made to the Department
of Canadian Heritage, the investment may become subject to review should
the Governor in Council order a review of the transaction.
Businesses involving uranium production, transportation,
a financial service, or radio, television or cable broadcasting are subject
to different filing requirements. For clarification please contact
the Investment Review Division of Industry Canada.
Investment to establish a New Canadian Business
-
Notification to Industry Canada (IC)
-
Notification to Canadian Heritage (CH)
Acquisition of Control of a Canadian Business - Direct Transactions
Under $5M
-
Notification to IC
-
Notification to CH
$237M and more (WTO Countries for 2004)
-
Application to IC
-
Application to CH
Acquisition of Control of a Canadian Business - Indirect
Transactions
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WTO Investors
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Non-WTO Investors
|
|
Canadian assets 50% or less of worldwide assets
|
|
Under $50M
Notification to IC
Notification to CH
|
$50M and more
Notification to IC
Application to CH
|
Under $50M
Notification to IC
Notification to CH
|
$50M and more
Application to IC
Application to CH
|
|
Canadian assets over 50% of worldwide assets
|
|
Under $5M
Notification to IC
Notification to CH
|
$5M and more
Notification to IC
Application to CH
|
Under $5M
Notification to IC
Notification to CH
|
$5M and more
Application to IC
Application to CH
|