Overview:
- Canada is one of the G7 nations with the most promising economic conditions for investment. Canada's financial situation is noted as the most stable of the G7 countries;
- Canada's legislation is flexible and in line with all modern realities;
- Non-resident companies pay tax only on profits generated in Canada;
- Canada has signed more than 100 double taxation treaties;
- Building a business in Canada provides access to the North American market.
- Clevver helps with online company registration in Canada, which does not require the physical presence of the owner. All legal documents are provided digitally.
Canada is one of the most attractive and prestigious jurisdictions for doing business. The simplicity and organicity of the laws and the government's interest in attracting experienced foreign entrepreneurs have resulted in a stable economy and a high level of infrastructure.
Canada is one of the richest countries in the world with a high per capita income. In addition to being a member of the Organization for Economic Cooperation and Development (OECD) and the G7, NATO, WTO, Commonwealth of Nations Francophonie, OAS, APEC, and UN, this country is rightfully among the ten largest trading nations in the world. Your business will be offered good taxation conditions, and the reputation of the country as such will not make anyone question the legitimacy of the business.
With Clevver's assistance, the formation of a business entity in Canada will take place quickly, in compliance with all mandatory procedures and requirements. Learn more here.
Taxation in Canada
According to international researchers, Canada has one of the lowest business tax burdens of all G7 countries. A transparent taxation system and many options of fiscal optimization together provide favorable conditions for entrepreneurs wishing to do business in this country.
Canada has a three-level system of taxation: taxes are federal, provincial, and territorial (or local) and therefore general tax rates are different in each province. Also, much depends on the type of activity and turnover of the company.
- The basic federal corporate income tax rate is 38%, 28% after federal tax abatement. After the general tax reduction, the net tax rate is 15%, declares the Government of Canada's website.
- The provincial corporate income tax is levied in the provinces at different rates, which range from 8 to 16%.
- Sales Tax (VAT) - GST (Goods and Services Tax) / HST (Harmonized Sales Tax) — the federal rate of 5% plus the provincial rate from 0 to 15%.
Benefits of Setting up a Business in Canada
Those wishing to start a business in Canada observe a huge number of prospects and positive factors leading to business success:
- A huge number of government programs to attract and support foreign investors;
- Economic and financial stability;
- The sufficient level of technology;
- The ideal infrastructure;
- A stable economy;
- The powerful legal system;
- High level of education;
- Skilled labor force;
- Absence of corruption and bureaucracy.
Registration of a Canadian Business Entity
High level of technology development, economic and financial stability, effective tax system, fair courts — these are only a few of advantages for doing business in Canada.
Have you already decided to open up a business in Canada? Clevver specialists will readily assist you in the Canadian company formation once you’ve applied to us and all is clear on both sides.
WHAT WE OFFER:
- The assistance of the well-versed specialists;
- The remote process of cooperation with Clevver;
- A complete package of legal documentation on the company registration in a digital format;
- Possibility to obtain numerous extra to business incorporation services in Canada (a registered address, mail-handling service, and a local phone number);
- Constant customer support and individual approach to each client.
Final Thoughts
Registering a company in Canada is one of the most promising solutions for entrepreneurs who want to open a business in North America. The country is rightfully recognized as one of the most developed and richest nations in the world and is also on the "white list" of the Organization for Economic Cooperation and Development.
If you wish to incorporate a company in Canada remotely, Clevver specialists can provide you with the necessary support for the business's establishment. To start your company formation process in Canada, contact us now.
DISCLOSURE NOTICE: Any legal or tax advice in this communication (including any attachments) is for information purposes only and is not intended to be used, and cannot be used against Clevver or its Sender. The sender is neither an Accountant nor a Lawyer and cannot be made liable. Please, contact your tax accountant for individual consultation. Clevver does not provide any legal advice itself. Clevver works together with a network of lawyers and tax advisors that provide all necessary individual legal advice.
