Canada is becoming an increasingly popular destination for international business expansion. Exceptional value for the dollar, business-friendly immigration programs and access to quality talent are just a few of the reasons why.
Canada’s population grew by more than a million people in 2022, solidifying its position as the G7’s fastest-growing country. This growth, according to Statistics Canada, can be attributed to a surge in immigration – with international migration accounting for nearly all growth recorded (96%).
As the country welcomes a record-breaking influx of people, it’s no surprise that the business world is taking note and exploring Canada as a future home, too.
We recently sat down with immigration law expert, Naumaan Hameed, and economic development expert, Catharine Gerhard, who shared their insights about why more and more US companies are turning to Canada for business expansion and the benefits that come along with it.
When asked why US companies should consider Canada for business expansion, Naumaan replied, “It’s not about why they should come to Canada. It’s about why they are.” He proceeded to talk about the reasons why Canada presents a strategic option for businesses focused on cost savings and growth.
Here are the key topics and takeaways from our discussion.
Naumaan and Catharine discussed several key topics that are relevant to US companies exploring Canadian business expansion, including:
- The current immigration challenges for US tech companies, including the H-1B visa program
- The differences between Canadian and US immigration programs
- The benefits of hiring talent in Canada, including cost savings and permanent residency opportunities
- What steps are involved with setting up a Canadian business entity
- How Waterloo EDC helps US companies expand in Canada
- Why Waterloo is an ideal place to live and work
If any of these topics have been on your mind this H-1B lottery season, you can watch a recording of the session below to learn more from Naumaan and Catharine.
Canada as a strategic H-1B alternative
" 62% of US companies have moved workers to Canada due to immigration challenges in the US. Of that percentage, 87% enjoyed the experience. "
Immigration Law Expert, citing Envoy Global's 8th Annual Immigration Trends Report
Expanding to any new country requires research, time and support. Here are some key takeaways from our discussion that you can keep handy as you continue expansion discussions with your team.
- Companies can take advantage of Canada’s Global Talent Stream program which allows them to hire global talent for critical roles and get work permits in as little as two weeks.
- Canada’s immigration system has levels instead of caps and the federal government introduces a new immigration plan each year that targets a higher number of immigrants.
- Hiring global talent in Canada can be cost-effective, as the prevailing wage for workers is typically less in Canadian currency than in the US.
- Hiring global talent in Canada can lead to permanent residency for employees and their families through the Express Entry program, an online immigration application system for skilled workers.
- Canada has been ranked highly for tech talent, with areas such as Toronto and Waterloo being popular for companies looking to build their talent pools.
- Waterloo EDC provides resources and support for companies looking to expand their business, including introductions to legal and tax experts and assistance with employee integration.
" With a strong spirit of community and collaboration, thriving industries and lots of amenities, Waterloo is an ideal place for newcomers to live and work. "
Market Development Manager at Waterloo EDC
Considering an expansion?
Canada could be the perfect place for you. Check out these resources to learn more:
Download the 2-page guide for an overview of Canada’s immigration programs and a decision tree to help you determine which one could work for you company.
Read our recent blog article about how to make a case for Canada and how Waterloo EDC can guide you through the business expansion process.
Get in touch with a Market Development Manager to learn more about Canadian business immigration and how we can help you achieve your expansion goals.