Facts About Starting a Business
in Canada
Canada places some restrictions and regulations on
starting a business in the country. However, it was ranked as the third best
place to start a business in the world in 2016 according to the World Bank's
Doing Business project. It takes only one procedure and an average of five days
to register a firm.
Canadian
Resident Requirements
You Need to Be a Canadian Citizen or a Landed
Immigrant to Start a Business in Canada. You can't start a business while
you're in Canada on a visitor or student visa or while you're here on a work
permit. You may be able to partner with Productivity one or more Canadians to start a business
here but that doesn't mean that you will be able to reside in Canada. To do
that, you need to immigrate to Canada.
Not All
Businesses Need to Be Registered
If you start a sole proprietorship in Canada and
use only your legal name as the name of your business, you don’t need to
register your business with your Productivity.
Newfoundland and Labrador take this even further. In those locations, no sole
proprietorships or partnerships need to register their business names.
Sources of
Small Business Loans
The Canada Small Business Loans Financing Program
has long been the flagship program for financing both startups and established
Canadian businesses, but there are many other government-sponsored and
non-profit agencies that provide small business loans, from Community Futures
Development Corporations through women's organizations. There is also an
increasing number of private loan sources, such as investor groups.
Related Topics: Investment Climate Statements - United States
Department at www.logprotect.org
