Published On: Thu, Aug 4th, 2022

Why You Should Invest In Canada as a Foreigner?

Why Invest in Canada

Without any doubt, Canada is one of the best countries to live in the world. You can find people from all around the world in different parts of Canada. The best thing is that you can start a business in Canada as a nonresident as well which makes it the best country for foreign direct investment.

Here are some factors that can convince any investor to invest in Canada as a foreigner.

Highly Educated & Fiercely Competitive Workforce

The population of Canada increased by 0.6% in the year 2021. It is the second highest growth rate among G7 countries, only below the 0.7% growth rate shown in the United Kingdom.

60 percent of the population aged 25 to 64 has acquired some level of tertiary education, making Canada the OECD member nation with the highest educated talent pool.

In addition to English and French, approximately one in five Canadians is also fluent in another of the nation’s over 200 officially recognized languages.

The prompt and effective admission of workers, students, and other individuals will be facilitated by Canada through the investment of more than $380 million over the course of five years.

The government of Canada has developed a Global Skills Strategy in order to facilitate the immigration of highly qualified workers from other countries. The method has a very high approval rate, with 95% of the applications that were submitted getting the green light (over 73 000 work permits between June 2017 and October 2021).

So, you can safely apply for your very own business visa for Canada and can either expand your own business to Canada or you can buy a business in Canada.

Most Reliable Financial Industry Worldwide

The financial sector of Canada is widely regarded as one of the most stable in the world, earning it a position of second place in the G20 and sixth place overall out of 141 nations. Canada is home to seven of the world’s fifty most reliable and secure banks, and seven of those banks are located in Canada.

Also check:  Benchmark Protocol Connects Traditional Finance with the Cryptocurrency Market

Connects You to North America and the World

There are now 15 active free trade agreements between Canada and 51 other countries. Businesses in Canada have privileged access to the global market, which has a combined GDP of US$57 trillion, is home to 1.5 billion consumers, and accounts for 60% of the world’s total output of products and services.

Every single day, the value of trade between Canada and the United States exceeds $2.0 billion US. This trade is supported by the fact that 16 of Canada’s 20 major cities are located within a 90-minute drive of the border between Canada and the United States.

Canada offers foreign investors preferential access to a combined market with nearly 500 million consumers and over US$26 trillion in GDP because it is a member of the Canada-United States-Mexico Agreement (CUSMA). Additionally, Canada offers virtually tariff-free access to the markets of the United States and Mexico.

An Atmosphere that is Encouraging Cutting-Edge Innovation

The dedication that Canada has shown to supporting innovation is significant. It is proposed in the most recent budget that a total of $750 million will be allocated over a period of six years, beginning in 2022-23, to support the continued expansion and development of Canada’s Global Innovation Clusters.

These clusters will build on their existing accomplishments to date in order to broaden their national visibility and increase the depth of their influence. Check this guide on how to get a business Canada visa for Lithuanian citizens.

Spending on research and development (R&D) in post-secondary research in Canada accounts for a greater proportion of the country’s GDP than any other G7 nation.

Within the Group of Seven (G7) nations, businesses in Canada have access to one of the most advantageous tax incentives for R&D. Its Scientific Research and Experimental Development (SR&ED) tax incentive is Canada’s largest research and development program, and it provides tax benefits of $3 billion yearly.

The government of Canada has announced the creation of the Canada Growth Fund (CGF), which will have a budget of $15 billion over the next five years.

This fund will be used to attract investment in order to achieve Canada’s climate goals, diversify Canada’s economy, grow low-carbon industries and new technologies, and support the restructuring of critical supply chains, including those in the natural resources sector.