Canada offers a lot of possibilities to those who want to work or start a business here. Canada is also one of the few countries which welcome specialists from all over the world who come and work here in various industries. For these individuals, there is also the option of starting a company in the fields they know best under the form of a consulting business.
Starting a consulting business in Canada implies the same steps as for any other type of company but can also include following specific courses and classes which will allow them to operate.
Our Canadian company formation specialists can offer detailed information on how to start a consulting company in this country. We can also help with tailored advice on how to start a business in any industry in Canada.
Steps for setting up a consulting business in Canada
Those who want to open consulting companies in Canada should follow a few steps. Among these are:
- making sure they are specialists in the field they want to offer their services in;
- choosing the right type of entity in accordance with the services they will offer;
- decide on how to register their company: at federal or provincial level;
- proceed to the incorporation of the company and obtaining the necessary licenses.
Foreign entrepreneurs can also set up consulting companies once they have obtained their residence permits for Canada. They can rely on our local consultants for guidance on how to apply for a residence permit which enables them to start a business in Canada.
Starting a consulting business as a self-employed individual in Canada
One of the most important ways of starting a consulting company in Canada as a foreign citizen is by entering the Self-Employment Visa program. This implies applying for a residence permit for Canada, however, there are a few additional conditions to comply with in order to be able to work as a freelancer in this country.
Those who want to establish consulting companies as self-employed individuals in Canada must:
- have a relevant experience in the field they want to activate;
- prove that they can bring a real contribution to the community through their services.
Having a relevant experience means at least 2 years of experience in the field the applicant is qualified for. The applicant must also know French or English at a proficient level in order to qualify.
Types of consulting activities which can be provided in Canada
The best part about starting a consulting company in Canada is that there are many fields of activity such business can activate in. Among these are:
- consulting related to the financial industry, especially in the fintech sector in Canada;
- consulting related to immigration matters, considering the large number of foreigners willing to relocate to Canada;
- marketing consulting services are also often searched for in Canada;
- IT consulting services are also very popular in every province in Canada;
- recruitment agencies can also be created with the purpose of offering consulting services to other companies and candidates.
There are many ways of opening a consulting business in Canada, however, the business owner must make sure they have the necessary experience and knowledge which can be demonstrated before starting such a company.
Creating a database of clients can help those who have worked in a specific field before. If no previous experience has been acquired, a good marketing plan and specific promotional programs which can help the company become visible can be of great help. Entering specific association related to the targeted field of activity is another way of proving the worthiness of one’s consulting company. Also, finding a location which can offer visibility to potential clients is very important when running a consulting business in Canada.
Types of business structures when establishing a consulting business in Canada
Those who want to start a consulting company in Canada, especially as foreign investors, should first consider setting it up as a sole proprietorship or as a partnership. Compared to other countries, these business forms are quite flexible in Canada and allow for a faster growth. Then the business can be turned into a limited liability company.
One should also pay attention to the province in which the company is registered, especially from a taxation point of view, as some provinces have lower tax rates.
For full information on how to establish a consulting business in Canada, please contact us. We offer full support in company registration in any business field and any province in Canada. We can also help foreign investors who want to operate at a federal level in Canada.