Top 10 Challenges Of Doing Business In Canada

With its abundant resources, market transparency and stable political environment, Canada offers a plethora of opportunities to companies looking to invest overseas.

According to our Global Business Complexity Index 2024, Canada has moved up three places from 48th most complex business environment in last year's GBCI, to 45th this year. Despite this upward trend, Canada remains at the lower end of the complexity index.

Canada offers a favourable environment to foreign businesses, however, there are a few complexities. For instance, the provincial variances in regulation and compliance requirements can make the process of setting up business in the country difficult. The need to incorporate as a federal corporation and in any of the 13 provinces entails different requirements around director residency, UBO registries and filing, for example. There is a similar story around HR and payroll, in which businesses need to account for provincial variation in social tax