CANADA

Name of country

  • CANADA

Region

  • Northern North America, bordering the North Atlantic Ocean on the east, North Pacific Ocean on the west, and the Arctic Ocean on the north, north of the conterminous US

Population

  • 37,943,231 (July 2021 est.)

General Introduction

  • Canada is frequently ranked as one of the best places to live in the world. It is well-known for its high living standards, clean environment, low crime rate, and excellent infrastructure.

Wifi Speed

  • Good internet speed in Canada is 50Mbps download and 10Mbps upload
  • Electrical outlet

For Canada there are two associated plug types, types A and B. Plug type A is the plug which has two flat parallel pins and plug type B is the plug which has two flat parallel pins and a grounding pin. Canada operates on a 120V supply voltage and 60Hz.

 Per Capita GDP 

Real GDP per capita

  • $45,900 note: data are in 2017 dollars (2020 est.)
  • $49,000 note: data are in 2017 dollars (2019 est.)
  • $48,800 note: data are in 2017 dollars (2018 est.)

note: data are in 2010 dollars

Climate

  • varies from temperate in south to subarctic and arctic in north

Residence-by-Investment

  • The government offers several immigration programs for wealthy individuals and entrepreneurs in order to attract foreign investment and boost the economy. They encourage wealthy individuals to relocate to Canada and/or do business thereby providing tax and other advantages. Aside from financial support, the government hopes to attract foreign talent, experience, and innovation.

Quebec will use the investment funds to benefit all of its regions and to fund two business support programs, the Business Assistance—Immigrant Investor Program (BAIIP) and the Employment Integration Program for Immigrants and Visible Minorities (PRIIME).

Investment

  • The Federal Immigrant Investor/Entrepreneur Programs were previously in operation, but they were recently discontinued. Other regional immigration programs for businesspeople include the Quebec Investor, Quebec Entrepreneur, and Quebec Self-Employed Worker programs.

Quebec Investor

  • For a 5-year investment of C$1,200,000, an investment agreement must be signed with an approved financial intermediary. There is a quota on the number of signed agreements. The investment is guaranteed by the Quebec government. Brokers and trust companies provide applicants with financing options.

Quebec Entrepreneur

There are two components in the programme,

  1. Submitting a business project for the creation or acquisition of a business in Quebec.
  2. Acquisition of a business in Quebec.

A business must be of agricultural, industrial, or commercial nature.  You must make a start-up deposit and a security deposit at a financial institution with an establishment in Québec with whom you have signed a deposit agreement. You must use the start-up deposit to set up your business. A start-up deposit for a business outside the Montréal Metropolitan Community (MMC) is CAD $200,000 or CAD $300,000 if the business is located in the MMC.

Quebec Self-Employed Worker

Candidates have been recently encouraged to settle outside metropolitan areas, including they are offered low-skill jobs validated by the state.

Main requirements

  • You must come to Quebec to create your own job by practising a profession or business activities, alone or with other immigration candidates, with or without paid help (you must register with a regulatory body if your profession or trade is regulated in Quebec).
  • You must make a start-up deposit at a financial institution in the region where you are going to work – C$25,000 if outside the Montreal Metropolitan Community (MMC) area or C$50,000 if inside the MMC area.
  • Financial self-sufficiency with net assets of C$100,000 available to you alone or together with your spouse if they are accompanying you.
  • Legal and lawful source of assets.
  • At least 2-year professional experience as a self-employed worker in the field in which you wish to work in Quebec.
  • Relevant education and degree.

Processing Time

  • Between 4 to 5 months.

Key Benefits

The Canadian economy is a well-developed mixed economy. It provides a plethora of opportunities for foreign investors and businessmen in exchange for their contributions to the local economy.

  • High ranking in civil liberties, quality of life and economic freedom
  • High level of education and healthcare
  • Cultural, religious and ethnic tolerance
  • Low crime rates
  • High living standards and affordable housing
  • Open, dynamic economy that offers numerous opportunities
  • Free and democratic pluralistic society
  • Fiscal incentives and low operating costs for businesses
  • Visa-free/visa on arrival/e-visa travel to around 160 counties
  • Dual citizenship

Requirements

Quebec Investor Requirements

  • A minimum of two years of management experience in the planning, management, and control of financial, human, or material resources is required. This must be obtained within the five years preceding the application.
  • Net assets of at least C$2,000,000 acquired and available to you alone or with your accompanying or de facto spouse at least 6 months prior to the application.
  • The main draw of this program is that your investment will be repaid to you in 5 years.

Quebec Entrepreneur Requirements

  • You must demonstrate that you will manage it yourself or you will participate in it as a management and operations partner full-time on a daily basis (agricultural entrepreneur does not have to work full-time).
  • You must control, alone or with your accompanying spouse or common-law spouse, at least 25% of the capital equity with a value of at least C$100,000.
  • You cannot buy a business acquired by another entrepreneur under this programme in 5 years preceding your application.

Procedures and Time Frame

  • An application must be submitted to the relevant government office in order to be considered for the residency programs. A file reference number is assigned at this point, allowing applicants to track the status of their applications. If you are from a non-visa-exempt country, you will be required to submit your passport to the local Canadian embassy or consulate, after which the permanent resident visa will be issued.

You will be granted permanent residence once you arrive in Canada with the visa. Application processing times vary depending on the category and where the application was submitted. The website of Immigration, Refugees, and Citizenship Canada provides a breakdown of expected processing times. It should be noted that in order to keep your permanent resident status, you must be physically present in Canada for two out of every five years.

*On March 31, 2021, the Ministry of Immigration, Francisation, and Integration announced that the Quebec Immigrant Investor

Natural Resources

  • bauxite, iron ore, nickel, zinc, copper, gold, lead, uranium, rare earth elements, molybdenum, potash, diamonds, silver, fish, timber, wildlife, coal, petroleum, natural gas, hydropower

Ethnic Groups

  • Canadian 32.3%, English 18.3%, Scottish 13.9%, French 13.6%, Irish 13.4%, German 9.6%, Chinese 5.1%, Italian 4.6%, North American Indian 4.4%, East Indian 4%, other 51.6% (2016 est.)

note: percentages add up to more than 100% because respondents were able to identify more than one ethnic origin

Languages

  • English (official) 58.7%, French (official) 22%, Punjabi 1.4%, Italian 1.3%, Spanish 1.3%, German 1.3%, Cantonese 1.2%, Tagalog 1.2%, Arabic 1.1%, other 10.5% (2011 est.)

Religion

  • Catholic 39% (includes Roman Catholic 38.8%, other Catholic .2%), Protestant 20.3% (includes United Church 6.1%, Anglican 5%, Baptist 1.9%, Lutheran 1.5%, Pentecostal 1.5%, Presbyterian 1.4%, other Protestant 2.9%), Orthodox 1.6%, other Christian 6.3%, Muslim 3.2%, Hindu 1.5%, Sikh 1.4%, Buddhist 1.1%, Jewish 1%, other 0.6%, none 23.9% (2011 est.)

Median Age

  • total: 41.8 years
  • male: 40.6 years
  • female: 42.9 years (2020 est.)

Urbanization

  • urban population: 81.7% of total population (2021)
  • rate of urbanization: 0.95% annual rate of change (2020-25 est.)

Physician density

  • 2.31 physicians/1,000 population (2016)

Government type

  • federal parliamentary democracy (Parliament of Canada) under a constitutional monarchy; a Commonwealth realm; federal and state authorities and responsibilities regulated in constitution

Unemployment Rate

  • 5.67% (2019 est.)
  • 5.83% (2018 est.)

Taxes

Headline Personal Income Tax Rate (highest marginal tax rate) 

Headline Corporate Income Tax Rate (excluding dividend taxes)

  • 26.5-31% (higher rate)
  • 9-13% (lower rate)

Canada’s tax system is largely governed by the federal Income Tax Act and its regulations, as well by the sales tax, corporate tax and other laws of the provinces and territories. Residents of Canada are subject to tax on their worldwide income, while non-residents of Canada are generally subject to tax only on their income from Canadian sources.

Income earned by a non-resident that is not subject to ordinary income tax may still be subject to a withholding tax at a rate of 25% (unless reduced or eliminated by an applicable tax treaty) on certain Canadian source income. 

Canada has entered into over 85 income tax treaties with other jurisdictions. These tax treaties generally provide that the business profits of a non-resident of Canada that is a resident of the other jurisdiction are not subject to tax under the Income Tax Act, except to the extent that such profits are attributable to a permanent establishment (i.e., a fixed place of business) of the non-resident in Canada. These tax treaties also usually reduce both the withholding tax rate imposed under the Income Tax Act and the branch-profits tax rate.

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