BUSINESS Immigration

• Canada has consistently ranked among the top 3 countries in the last 5 years
• Canada is the easiest place to start a business in the G20.
  

  World Bank, Doing Business 2020, November 2019

• Canada’s ranks first among Organisation for Economic Co-operation and Development (OECD) countries for its attractiveness to entrepreneurs thanks to its welcoming and robust business environment.
  

  OECD Indicators of Talent Attractiveness, May 2019

• Canada had the second-largest foreign direct investment (FDI) stock to GDP ratio among G20 countries over the 2015-2019 period.
  

  United Nations Conference on Trade and Development, 2020

By expanding a business to Canada, foreign investors enjoy access to the country’s free trade agreements.

• Canada now has 15 active free trade agreements covering 51 countries

  Global Affairs Canada, April 2021.

• Businesses in Canada now enjoy preferential access to a global market with a combined GDP of US$54 trillion, representing almost two thirds of the world’s output of goods and services and home to 1.5 billion consumers.

  IMF, World Economic Outlook, October 2020

• Cross-border Canada-U.S. trade is valued at over US$1.7 billion each day. Anchoring this trade are 16 of Canada’s 20 largest cities that are within a 90-minute drive of the Canada-U.S. border.

  Statistics Canada and U.S. Bureau of Economic Analysis, 2019

• Canada offers foreign investors preferential access to a combined market of over US$24 trillion in GDP with nearly 500 million consumers and virtually tariff-free access to the U.S. and Mexican markets.

  IMF, World Economic Outlook, April 2021

• Canada has reduced taxation on new business investment from 44.1% in 2000 to 13.8% in 2020. Canada’s tax treatment for new business investment is the lowest in the G7, below the OECD average and significantly lower than in the United States (18.4%). It is even more advantageous in the sectors of manufacturing and processing (3.1% in Canada vs. 19.5% in the U.S.) and services (17.2% in Canada vs. 24.5% in the U.S.)

  Finance Canada, Marginal effective tax rates

• At 26.2% in 2020, Canada’s combined federal-provincial statutory corporate income tax rate is one of the lowest in the G7.

  OECD Tax Database, April 2021

• Imports of inputs and machinery for manufacturing enter Canada tariff free. Canada also offers a full tax deduction in the first year of investments for the entire cost of machinery and equipment used for the manufacturing of goods and certain clean energy equipment.

  Government of Canada, Accelerated investment incentive

• Canada has enjoyed the lowest net debt to GDP ratio in the G7 for the last 15 years, with a current ratio of about 33%.
  

  International Monetary Fund, Fiscal Monitor, April 2021

• Over 83% of the 3 million jobs lost between February and April 2020 due to COVID-19 had been recovered by April 30, 2021, with nearly 67% in full-time positions.
  

  Statistics Canada, May 2021

• Canada, along with Germany and Australia, continues to lead the G20 for fiscal soundness. Despite the economic support it is providing to help its citizens cope with the pandemic, Canada retained its triple A credit rating.
  

  S&P Global, April 2021; Moody’s, November 2020

• Canada has the most educated talent pool in the OECD: more than half of its population aged 25 to 64 has received tertiary level education.
  

  OECD, Education at a Glance, September 2020

• Canada supports large innovation projects valued over $10 million through the Strategic Innovation Fund which includes $3.4 billion in contributions and $7.2 billion in new funding from 2021 to 2027.
• Canada leads the G7 in research and development (R&D)spending in post-secondary research as a share of GDP.
• Ottawa, Toronto, Montréal, Vancouver and Calgary have high tech talent with the lowest tech cost among 50 North American cities. Furthermore, Toronto ranked fourth as a tech talent market for its dynamism, talent quality and cost in 2019.
  

  World Economic Forum, Global Competitiveness Index 2019-2020

• Canada’s banking system ranks second in the G20 and sixth among 141 countries. Six of the world’s 50 safest and most dependable banks are based in Canada.

• Canada is the most democratic country in the G20 and ranks among the top five OECD countries for its living conditions and quality of life.

• Canada’s trade agreements had an overwhelmingly positive effect on the Canadian economy. It has opened up new export opportunities, acted as a stimulus to build internationally competitive businesses, and helped attract significant foreign investment.