What Makes Canada the Best Country to Do Business?

Find out why Canada is considered one of the best countries to start your own business.

For a person who is looking for the perfect place to open and grow their business, Canada is a real Klondike. Proximity to the developed markets of the USA and LatAm, a high level of professional labor market, access to natural resources, port and air logistics are just some of the points that speak in favor of Canada. In this article, you will learn about the benefits of developing a business in Canada.

Low corporate tax rates

It doesn’t matter what kind of business activity you plan to engage in: oil production, trading, or opening a Canadian casino, the corporate tax rate will be lower than in most other developed countries. The tax burden on business is calculated based on the territorial principle. This means that if you earn income in other countries and are registered as a partnership with a general partner – a legal entity or individual registered in Canada, and you yourself are a limited partner, then you are not required to pay taxes in Canada.

Qualified personnel in the labor market

More than 60% of able-bodied Canadians are under the age of 35, so when looking for employees, a businessman in Canada will never experience a shortage of workers. By the way, those who plan to open a business in Canada should know that one of the main requirements for this is to hire Canadian residents or citizens to the organization’s team. If employees are not permanent residents of Canada, but live in other countries, then a company registered in Canada and doing real business here can issue a work permit for almost any foreign specialist.

Developed logistics for business

Canada is the second largest country in the world and one of the centers of trade. Ports, airports, border crossings with the United States – all this makes it possible to receive and send goods without delay and without intermediaries around the world. Canada’s air transport infrastructure is the best in the world, and coastal ports provide direct maritime access from North America to Asia, Europe and South America. Canada’s Great Lakes also provide low-cost water access to major US cities.

Equal opportunities for ethnic groups

Canadian immigration policy takes into account the needs of the people as much as possible. Migrants from all over the globe who have professional qualifications can live and work in Canada under special programs, and a separate visa allows foreign nationals to come to Canada and open a small business here.

Access to developed US and LatAm markets

The US-Mexico-Canada Agreement (USMCA) opens up new horizons for Canadian businessmen. The free trade zone between these three countries allows the recruitment of employees from the population of these countries, and also provides other benefits to business owners. For example, the proximity of some Canadian manufacturing industries to the US allows for better local logistics.

The first step to start a business in Canada

Canada is a politically stable country with a sound banking system and the least corrupt compared to most G20 members. This testifies in favor of such a criterion as low risks for business. After reading the above points, you may be interested in Canada as a place for a promising business. It is prudent to consult with local legal advisors about the intricacies of the law and opportunities for rapid development. Good luck!