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The landmark deal is expected to add at least £270 million a year to the Scottish economy, with food and drink and renewable energy businesses set to benefit.
Running throughout the summer, Charterhouse Lombard is offering cost-effective setup packages with the option of buying a multi-year license at a significant discount. Get in touch with us today to ask about:
A Joint Statement between the United Kingdom and Thailand concluding the first Joint Economic and Trade Committee
Documents containing treaty information and a summary of the UK-Andean countries trade agreement.
The International Trade Secretary hosts high-level talks on how the international community can help rebuild Ukraine after the conflict.
Business in Canada for foreign residents
Business in Canada for non residents
Canadian corporate laws allow incorporation and operation of a business by foreign residents. Many business owners use this opportunity to establish their business presence in Canada and expand their operations to North America.
In order to incorporate a business by foreign resident, you must have a Canadian resident (PR or citizen) as 1 out of every 4 directors of the corporation. Since the positions of a director and a shareholder are separate, you do not have to issue shares to your Canadian director, but definitely allowed to do so.
While operating business in Canada, you must pay attention to the taxable consequences arising from your status as a non-resident, and the corporation being controlled by non-resident. Canadian Controlled Private Corporations (CCPC) enjoy from a significant deduction of their income tax from 31% to 13% on the first $500K of profits. As a non-CCPC your corporation might not be eligible for such deduction.
In order to come to Canada and actively operate your business you will need a work permit – Temporary Foreign Worker Permit of TFWP. Only with such work permit you are allowed to actively mange your business in Canada and earn income from the business. This process is usually performed by a professional immigration consultant.
Eventually, you can use your Canadian business for the purpose of immigrating to Canada, but the process is complicated and requires professional assistance. In order to comply with this immigration process you must invest at least $250K into your Canadian business and must provide other information required by the local immigration authorities.
We at CBES have special expertise in assisting clients to incorporate their businesses in Canada and develop their presence in North America. We also work with a number of immigration partners assisting our clients in obtaining work permit or immigration status in Canada.