Canada Market Entry Strategy

How to set up Business in Canada?

Canada is one of the foremost locations to start a business or expand into a different geographic space. As a country, it is constantly topping reports and studies about various social indicators within the country, and as per a publication by Forbes, it named Canada as the 5th overall in the world for business and named it the top country in North America and the G20, owing to the fact that Canada has some of the lowest corporate taxes and one of the most stable banking systems. If you are a foreign national & want to start a company in Canada, and do not already have an established business in your country of origin, there are several ways you can open a business in Canada. Here are the steps you need to follow:

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  Choose the name of the company as per the Canadian regulations

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  Choose the form of business ownership

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  Arrange the finance - Government offers various grants

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  Register the company & obtain business license

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  Pay your taxes correctly

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One of the main reasons why businesses around the world want to carry out activities and set up offices in Canada is because of lower corporate tax rates than their home countries. As of 2019, the Canadian corporate tax rate is 15%, which stands at one of the lowest internationally. Canada is an open country when it comes to those who want to set up businesses here, no matter their nationalities. Foreign investors have several options when it comes to immigrating to Canada, among which one is to sett up companies here as non-residents.

Here are a few tips on planning, legal issues, hiring, immigration, and taxes & an overview of Canada market that would help you to build a expansion strategy for your business.

Top 3 Sectors for Investment in Canada

When looking at the major key industries in Canada from a business point of view, then industries vary as we move across Canada like British Columbia on the west coast has historically relied on natural resources such as mining and timber. Manufacturing is now becoming much more important to the economy. Ontario and Quebec form the industrial center of Canada. They have a variety of manufactured goods. Here are the top 3 sectors that have huge growth potential:

DOWNLOAD THE CANADA MARKET ENTRY REPORT FOR FREE

Canada covers a vast area of land sharing borders with the Alaskan state of the US to the Northwest and the United states to the south. Greenland lies to the northeast and Canada shares a maritime border with Pierre and Miquelon. Canada has a wide variety of minerals and resources in its land. As per a study conducted in 2016, it was concluded that the comprehensive cost of operating a business – including cost of labour, facilities, utilities, transportation etc. is lower than other nations such as the UK, USA, Australia, Germany and Japan. You can find a detailed report covering different facets and market intelligence related to Canada here.

Visa and Immigration

There are a variety of ways in which one can immigrate into Canada. Some of the various ways are:

- Express Entry whereby a candidate can immigrate as a highly skilled worker who satisfies certain criteria.
- Provincial nominees wherein a candidate is nominated for a visa by a Canadian province or territory.
- Atlantic Immigration Pilot wherein one can immigrate by graduating from a school or working in New Brunswick, Prince Edward Island, Nova scotia or Newfoundland and Labrador.
- Immigrate as a self employed worker in cultural or athletic activities.

 

 

Canada provides ample opportunities for those who want to get permanent residency or citizenship through investments in the country. Under the Canada Business Immigration Program, people can apply as investors, entrepreneurs, self employed persons etc. In order to qualify for the start up visa program, one must all the eligibility requirements:

- One must have a qualifying business
- Letter of support from a designated organisation
- Meet the language requirements
- Must have enough money to live in Canada till the
verification process is done and approval is received.

 

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