Also in the news...
Prove your English language abilities with a secure English language test (SELT)
For visa or citizenship applications, you may need to prove your knowledge of English by passing a secure English language test (SELT).
UK and Nigeria Enhanced Trade and Investment Partnership arrangement
The Enhanced Trade and Investment Partnership (ETIP) sets out the UK and Nigeria’s priorities for future discussion and cooperation.
Export to the UK: guidance for African businesses
Find out about UK markets and sectors, trade agreements, UK import regulations and taxes, and support for African businesses from the UK government.
Guidance Start exporting to Africa
Find out about market opportunities, trade partnership agreements, support from the UK government, and export regulations and taxes in African countries.
Guidance Start investing in African businesses
Find out about investment opportunities and support from the UK government. Learn how to manage risk, invest ethically, and access guidance on African countries.
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.