esources is a section curated by the Italian Chamber of Commerce in Canada West to provide introductory information for entrepreneurs that are interested in starting or expanding their business in Canada or Italy. Here you will find a series of resources, useful information and FAQs related to Italy/Canada trade relationship collected in order to help you start doing business in Italy and Canada.
Contact us for your more in-depth inquiries.
Non-residents are permitted to own a corporation in BC, but you must have a physical address for your business in BC – a post office box is not enough. You’ll also have to follow all of the usual legal requirements for starting a business.
Extra-provincial (aka “branch office” or “foreign office”) registration information can be found here: www.corporateonline.gov.bc.ca/WebHelp/whskin_tw.htm#overview_xp.htm
As an entrepreneur generating revenue in Canada, you will have to submit a tax return on any Canadian revenues generated. To do this you will need to set up an account with Canada Revenue Agency when registering your Corporation in BC.
Always check with Citizenship and Immigration Canada (CIC) in Vancouver to confirm what kind of permit you will need to enter the country. If you plan to work on your business in Canada, you will also have to contact CIC to obtain “working status.” If you’re a student and want to start a business while studying, you will have to apply to CIC for a special modified study permit to work on your business.
Please note that a working permit doesn’t enable you to become a Canadian Citizen. If you want to be a Canadian Citizen, you will have to apply to CIC for citizenship status.
One reason that small businesses fail is because they undercapitalize their business, so it’s important to know how much money you will actually need to start and to run your business until you reach your break-even point – the point when your sales revenue equals your total expenses.
Your financing options will vary depending on how much you need to borrow. You can begin investigating your options here:
Specialized financing options:
A business plan will have eight key sections, including:
Business plan templates:
Most municipalities in British Columbia require you to obtain a business licence, which gives you permission to operate your business on your premises (whether in your home or in a commercial space) within that municipality.
Registering a business in BC is relatively straightforward, but first you need to decide if your company structure will be a proprietorship, partnership or corporation.
Once you’ve settled on a company structure, the first step of registering your business is name reservation. You can apply for up to three names on one application, and you should thoroughly research your name choices before submitting your application.
Once you have researched your name choices you can submit the name reservation application by proceeding to Step 3 on www.bcregistrynames.gov.bc.ca/nro. Alternatively, you can print the name request application form and mail it directly to the Corporate Registry with payment.
The processing time varies depending on how you submit your application. If you submit it online or in-person, processing time is approx. 5–8 business days, and if you are mailing the application it usually takes an additional week.
Once your business name has been processed and approved, you can file the business registration application.
In some instances, you may be required to obtain a licence in municipalities where you do not maintain premises but do carry on business.
Contact your local city hall – as well as the city hall in each community where you’re doing business – to see which permits (including mobile business licences) might be required for your type of business.
Please note that additional federal, provincial, and/or municipal regulations may apply to your particular business. Consult the appropriate authority or visit www.bizpal.ca for more information.
Following the developments in the Covid-19 outbreak, the Erasmus for Young Entrepreneurs Global programme has temporarily adapted its rules. Remote exchanges are possible and allowed for a period of 1 to 3 months. Entrepreneurs participating in the remote exchange are NOT eligible to receive a financial allowance. If the NE can travel, the physical exchange can take place for maximum 3 months and the NE is entitled to receiving a financial allowance. The duration of the match (remote + physical) cannot be longer than 3 months and must be achieved within a period of 12 consecutive months. These exceptional rules will apply until the 31st of December 2021 (please note that this end-date is indicative and could be modified in the next months, depending on how the situation will evolve). If you need more information, please consult your Intermediary Organization.
The Erasmus for Young Entrepreneurs Global programme does not define any new travel restrictions in addition to those that already exist at national level. Participants need to follow national advice and consult the website of their respective national ministries (Ministry of Health and/or Ministry of Foreign Affairs, etc.) for up-to-date travel restriction. In addition, participants need to make sure they have a valid medical insurance, whatever their destination, in accordance to the programme rules.
Exchange programs range from a minimum of three to a maximum of six months, but the exact duration of a candidate’s program depends upon the type of visa obtained by the candidate.
No, there is no deadline to register for the programme. Interested applicants can apply online anytime at www.erasmus-entrepreneurs.eu.
Because the EYE program is financed by the European Union, participation is complimentary for Canadian host companies.
The ICCBC will schedule an orientation call with new entrepreneurs upon arrival in Canada as well as activate your Young Professionals Membership, to ensure that you are kept in the loop!
Entrepreneurs should select the most appropriate visa based on their nationality and duration of exchange. A complete list of visas can be found HERE.
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