As many of you may already know, October 17, 2018 marks a monumental day in Canadian history. On this day, the Cannabis Act and its regulations (the Cannabis Regulations) come into force. With this law coming into force, Canadians will be allowed to enjoy several different cannabis products that they can purchase through various legal and regulated avenues. Along with the ability to purchase cannabis products, individuals looking to get involved in this lucrative market will also be able to submit various cannabis licence applications to the Cannabis Legalization and Regulation Branch of Health Canada. Once you’ve received this licence from Health Canada, you will be able to conduct various cannabis-centric activities that your licence authorizes. However, the licensing does not stop here. Many people may not be aware of this, but in addition to your Health Canada approved cannabis licence, you will also require a second type of cannabis licence that is issued to you by the Canada Revenue Agency (CRA) known as the CRA’s cannabis licence. Below is some information that you should know if you intend to enter the Canadian cannabis industry with regards to the CRA’s cannabis licence.
Who should apply for a cannabis licence?
How long is the cannabis licence valid?
What is required to be eligible for a CRA cannabis licence?
– Each individual involved must be at least 18 years of age
– A valid business address in Canada is required
– You must hold a valid licence/permit from Health Canada issued under the Cannabis Act
– You must provide a business plan
Other important information:
Although the application process may seem daunting, dicentra Cannabis Consulting has the experience and knowledge to guide you through the regulatory landscape to get you started in the exciting industry that is the Canadian cannabis industry. In addition to assistance with licensing requirements, dicentra also offers a number of other services to assist you with all of your cannabis licensing needs including the preparation of business plans. With this in mind and with cannabis legalization less than a month away, contact us to get ahead of the curve and to get started today!
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dicentra provides sought-after guidance on product and marketing compliance, quality assurance and safety standards, research and development, new ingredient assessments and overall regulatory strategies for food and health-related products sold in North American marketplaces. We can also assist you with your classification determinations for delivery systems or combination drug-device products.