?> Start a business in Canada as a foreigner

Day 25

August 2, 2013.

The one with our dream.

We decided to postpone our journey to Granada a bit longer, as the forty degrees Celsius heat inland is quite unbearable, especially for Lewis. So on day 25 we started to explore the neighborhood around our wild camping spot in Malaga and found a nice coffee place, where we were are able to use the Internet to write our blog and do some research for our dream plan.

Even though we love being Nomads on the road without an itinerary, we also feel the need to create something; a compilation of everything we learned and liked in the last years of traveling. This idea in our heads keeps growing and changing, becoming clearer every time we work on it.

We would like to one day start a self-sustainable, ecological place. Where people can come for:

  • An organic meal of the day made of fresh food from the garden.
  • Events like jam-nights and live music.
  • Cheap lodging in a dorm room or private studio all made from recycled materials.
  • A health centre with yoga, meditation and alternative medicines.
  • A shop where they can buy locally crafted or grown products.

Where we want to do this is not sure yet but probably in British Columbia. I lived in Fernie, Canada for a year (2009-2010) and fell instantly in love. Now three years later after traveling around the world and seeing so many different places, it’s still my favourite country with its amazing people, good business opportunities, natural resources, good education system, etc.

Tim hasn’t been there yet but I’m pretty sure that he’ll love it too, as I truly believe that we are both born to live in the mountains. We are now mostly interested in Pemberton, a small town North of Whistler, close to Vancouver, the ocean and a ski resort.

Pemberton is a strong and vibrant community, recognizing the importance and benefits of engaged, healthy citizens. Our residents are community-minded, and engaged; taking advantage of our recreational and volunteer opportunities.

To start a business in Canada is not very easy but luckily the Canadian government provides us with heaps of good information. Crawling through this mountain of resources, we start to find answers to some of our questions:

  •  How many taxes do you pay in Canada?

 I discovered that as a small business in BC you only pay 2,5% provincial taxes for the first $ 500.000 you make. I’m still not sure how many corporate taxes you pay and if you also have to pay personal taxes.

More info

  •  How do you become permanent resident?

CIC has temporarily stopped accepting applications for the federal entrepreneur program. Only applications received before July 1, 2011, will be processed. This suspension will continue until further notice.

More info

  • How about getting a loan in Canada?

The interest is 3% and you can get up to 90% funding as a permanent resident.

More info:

  • Do you have to pay a Notary fee, to make the land you buy legally yours (like in Belgium)?

Legal costs for a purchase with a mortgage usually range from $900 – $1,200. Property transfer fees are generally 1% of the first $200,000 of the value and 2% of the remainder.

More info

But before turning this dream into a reality we’ll keep on incorporating everything that feels good along the way into our project, while enjoying Central-America to the fullest for probably half a year. After which we will start our journey to the North.

If you have any information or knowledge about starting a small business in BC, Canada, especially as a foreigner, we would love to hear from your experiences. Thanks.