Business in Canada - What You Need to KnowAssociation of Business Training
December 17, 2012 — 848 views
There are many perks to be found when it comes to doing business in Canada, and you should not be worried about the hassles of running and maintaining a business while you are in this country. Canada is part of the G8, and it is actually the easiest country to do business in out of those eight countries. In fact, the Economic Intelligence Unit said Canada was the best place to do business back when the G8 was the G7. While many Americans think about higher tax rates and a less than friendly business environment when they think about Canada, the reality of the situation is actually far away from that myth. This country has all the stability, skilled labor, industry leadership and everything else that one needs to start a successful business.
How Do I Start a New Business in Canada?
Canada is a country that loves to get money invested from foreigners, so you will not have any trouble when you want to get started with your new business venture. If you are going to invest in a new business in Canada or start a new business of your own, then you will need to file an application to make sure that your business venture is going to be something positive for all of Canada. This kind of paperwork is generally not needed if your investment or startup contains less than $5 million in assets.
Where to Incorporate Your Business
You will have to choose whether you want to incorporate your business in a province or throughout the country if you want to incorporate in Canada. There are different sets of fees and restrictions to be found in each province, so you need to decide if it would be a better idea to incorporate in the province where your business is located or just go ahead and incorporate at the federal level. Incorporating at the federal level is a requirement if you want to do business in more than one province.
Doing Business in Canada Can Be Advantageous
Canada boasts a very strong business community, and the country is definitely fertile soil for anyone who wants to start a new business today. There are millions of people who will be able to access your products when you do business with this NAFTA-affiliated country, and this is one country where economic downturns tend to stick around for short periods of time.