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What You Should Know About Doing Business In Canada

Posted by Raphaelle Butteau on Nov 18, 2015 12:14:18 PM
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Canada (12th largest GDP in the world and home to 35 million people) stretches over 5,500 kilometers and 4 time zones. It is a federation of 13 semi-autonomous provinces and territories (local government, legislative assemblies and specific laws). The country is officially bilingual, though the majority of the population is Anglophone whereas Quebec is mostly Francophone. Canada has a 8,900 kilometer-long common border with the USA, its largest trading partner.

The country has recently welcomed crowds of immigrants (250,000 per year on average), leading to a vibrant cultural and ethnic diversity.

There are a lot of differences between doing business in British Columbia (on the West Coast), doing business in Ontario and doing business in Quebec or the Maritime provinces due to significant cultural variations. These can be historical but they also stem from the large influx of immigrants in recent years.

Each province has its own focus:

 

 

  • Vancouver is the gateway to the Pacific,
  • Calgary is a magnet for natural resources,
  • Toronto is a financial platform,
  • Montreal the hub for the aerospace industry

 

The industry in which you plan to do business will determine the province where you should settle. Get to know about each province's main economic drivers. If you are in the aerospace business, then set your eyes on Montreal. Financial services? Then go to Toronto. And so on and so forth.

The nominal corporate tax rate is 15% and it is one of the lowest in the world. Both federal and provincial governments offer a wide array of assistance and subsidies to start and grow businesses. The Research & Development tax credits are particularly generous.

Starting a business or a subsidiary requires little to no paperwork. Unlike in the USA, Canada is not a country prone to litigations. If you plan to hire employees in Canada, there are government assistance for job creation. The health care system is very similar to that of European countries.

Lastly, the Canadian dollar has seen a sharp drop in its value over the past 12 months. As of today (October 2015), 1 Euro equals 1.5 Canadian dollar which makes it particularly attractive to European companies that have plans to develop their business in North America.

 

 

 

Canada is a country of extreme climatic diversity that any newcomer will need to get used to. Indeed, in Quebec, the temperature can go from +30°C in the summer to -30°C in the winter. In Montreal, the average total snow fall between December and the end of April is 3 meters (10 feet). If you plan to relocate some of your employees to Canada, coming from a relatively mild part of the world (like Europe), you must get them prepared for Canadian winters. We ALWAYS have a white Christmas!

 

About LeLink

Philippe Collard is the President of LeLink, based in Montreal, Canada. He was born in France and spent most of its career between the United States and Canada. He has been the CEO of 4 companies, 2 of which were listed in the Toronto Stock Exchange. Philippe has a long experience in managing companies in an international context and did business in 32 countries. Established in Montreal since 1999, he supports American, Canadian and European companies in their strategy, financing, and international development.

Connect with Philippe on Beeleev!

 

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Topics: Set Up A Business, Doing Business, Business, Canada

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