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Archive for December, 2015

Doing Business in Canada – What You Should Know

Tuesday, December 29th, 2015

Why do business in Canada?

Canada has lots of perks that make doing business in the North very appealing. Did you know that Canada leads the G7 countries in ease of doing business? And, according to the Economic Intelligence Unit, Canada is forecasted to be the #1 place to do business among the G7 countries for the next 5 years. Not only are business costs and tax rates low in Canada compared to other countries, but the country also boasts strong investment stability, industry leadership, a highly skilled work force, strategic location, and overall lifestyle advantage.

How to start a business in Canada

Canada welcomes foreign business investment and has many government resources to help business owners interested in expanding across the border. However, it is important to review and ensure compliance with the Investment Canada Act to be able to conduct business in the country. Non-Canadians must file an application for review of their investment to ensure that it is beneficial to Canadians. If you are starting a new business or acquiring a business in Canada with less than $5 million in assets, a review is generally not necessary but a notification must be filed with the Investment Canada Agency before you make the investment.

Incorporating in Canada

Though you can register your corporation as a sole proprietorship, partnership, franchise or cooperative, most foreign companies choose to run incorporated businesses in Canada. Before you proceed with incorporation, you’ll need to complete a NUANS (name) report in order to ensure that your company name will not infringe on any other registered corporate name in the jurisdiction. Once you have established the name you want to incorporate, you’ll need to consider whether you want to run your business as a subsidiary or conduct your business in Canada through a branch operation. Though both options require incorporation, they are treated differently in terms of taxes, capital, and liability.

Federal vs. Provincial Incorporation

You will then need to decide if you want to incorporate federally or provincially. Federal incorporation allows you to conduct business across Canada, while provincial incorporation limits your business to the province(s) of incorporation only. Requirements, restrictions and fees vary federally and between each province.

For foreign companies it is important to note the residency requirements for each jurisdiction. On a federal level, only 25% of the board of directors must have Canadian residency. Provinces such as Alberta, Manitoba, Saskatchewan and Ontario require at least 51% of the board to be Canadian residents, while British Columbia, New Brunswick, Nova Scotia and Quebec have no requirement for residency. These variables may influence with what jurisdiction you decide to register.

Canadian Advantage

Canada has a strong competitive advantage for business investment. With one of the most dynamic economies in the world, Canada is a nation of highly skilled and educated workers with sophisticated infrastructure and a leader in many growth industries. Canada’s location strategically places it in the global economic forefront and its inclusion in NAFTA gives access to millions of consumers in North America. Canada has fared relatively well in the economic recession and lends stability to an otherwise turbulent atmosphere for investors. Finally, Canada is renowned globally for its clean and friendly environment and is considered a fantastic place to raise a family, live, work and invest.

Top Ten Reasons to Study in Canada

Tuesday, December 29th, 2015

1. Canada has some of the top colleges and universities in the world

According to THE (The Higher Education) magazine, Canada has the reputation for some of the finest institutes of higher education in the entire world.

2. Affordable Options

While the quality of education in Canada is amongst the highest in the world, the cost of living and tuition fees for international students are still generally lower than in other countries such as the United Kingdom and the United States.

3. Employable Skills Once You Graduate

According to the Council of Canadian Educators, “Canada’s high academic standards and rigorous quality controls mean that you’ll be earning a high-quality education that will open doors for your future and benefit your career over the long term. A Canadian degree, diploma or certificate is globally recognized as being equivalent to those obtained from the United States or Commonwealth countries.”

So once obtaining a degree in Canada, you have received a degree of significant value which indicates that you possess the requisite skill in a competitive workplace.

4. Canada is a Welcoming Country

Canada recently invested ten times their usual budget to attract foreign students to Canada. This country is committed to welcoming more foreign students because of the benefit that these students bring to our country. Canada views foreign students as enriching our country in many ways, as we thrive in an environment where people from different cultures mutually benefit from coming to our country.

5. Beautiful Country

Forbes Magazine reported on July 2, 2013 that Canada was the number one ranked country for “the degree to which people trust, admire, respect and have a good feeling for a particular place or their emotional bond to the country.” Canada is the second largest country in the world. It has beautiful ocean front views, glorious fresh water lakes and rivers, mountains and plains.

6. Strong Economy

According to Chris Ridell writing for the National Post, the reasons for Canada being ranked at the top of the G-7 nations is:

“The World Bank labelled Canada the best place in the G7 nations to start a business, and thanks to an open immigration policy it’s comparatively easy to enter the country. Add a strong banking system, growing job market, and high standard of living, and it’s no wonder.”

7. Respect for Human Rights

Canada prides itself on a legal and political system that promotes and provides a healthy respect for human rights founded on the principle that we are all equal.

8. Quality Environment and Safety Protection

Visitors to Canada are often struck by the cleanliness of our major cities and the pristine conditions in the country. Canada has the largest reservoir of fresh water lakes in the world. Our food and products are tested to ensure their quality and safety.

9. Diversity

Multiculturalism in Canada is the sense of an equal celebration of racial, religious and cultural backgrounds. Multiculturalism policy was officially adopted during the 1970s and 1980s by the Canadian government.

10. Quality of Life

United Nation’s Human Development Index has frequently listed Canada as having the highest quality of life in the world.

So in summary, Canada offers great opportunity to foreign students wishing to pursue their dreams in a foreign and welcoming land.