Getting into the cannabis cultivation industry is one of the most lucrative and rewarding business ideas. But before a cultivation centre or facility can be established, cannabis cultivation permits must be obtained. The procedure is not simple because each state requires applicants to meet their specific regulatory requirements and also submit relevant documents with their applications.
Depending on the state from where you are seeking your cannabis cultivation permits, you will be required to provide background information on all the owners. In a business, an owner is any person that has a 5% or more ownership interest. An owner is also anyone who is having a role in controlling, directing and managing the business. This an include hiring personnel for the business, contracting sale of goods, policy decision making, etc. the states require the applicant to disclose information on all of its owners and also reveal their ownership interest.
Owners must also disclose their financial interest such as investment in a cannabis business, granting a loan to a cannabis business or having any other kind of cannabis related equity interest. Financial scrutiny is in place for distributors, transporters and retailers and these groups of people are required to submit a number of relevant documents to the state upon making an application.
If you are wondering how to open a medical cannabis business, then take our cannabis business workshop at California college for cannabis, in San Diego, Pasadena and Sacramento; Our attorneys and industry leading network of professionals will be hosting a to go over all aspects of cannabis business licensing, start-up and operation.
At 420 College – it all begins with helping YOU to understand what is proper, lawful and appropriate!
Our hands on medical cannabis business start-up seminars or one-on-one consultations are perfect way to get started!
You get an intense 2 days of advanced information about how to start and operate a medical cannabis business in California. Find out how 420 College 2 DAY seminars can help you in your business, click here.