How to start a business in Canada as a foreigner (2026)

Foreigners may own 100% of a Canadian corporation in most sectors; there is no general foreign-ownership cap or licence for setting up a company. Sector-specific limits apply only in certain regulated industries (e.g. broadcasting, telecoms, air transport, uranium, financial services), where a majority of directors must be resident Canadians.

Under s.105(3) CBCA, at least 25% of directors of a federal corporation must be 'resident Canadians', and where a corporation has fewer than four directors at least one must be a resident Canadian. Ontario (OBCA, since July 2021), British Columbia, Alberta and Nova Scotia have removed this requirement, so foreign founders commonly incorporate provincially to avoid it.

The core steps via the Corporations Canada Online Filing Centre are: (1) choose a corporate name and obtain a NUANS name-search report (or take a numbered name); (2) file Articles of Incorporation setting out share structure and any restrictions; (3) appoint initial directors and provide a registered office in Canada; (4) receive the Certificate of Incorporation; (5) file the initial Individuals with Significant Control (ISC) return; (6) register for a CRA Business Number and, where turnover will exceed CAD $30,000 in four consecutive quarters, GST/HST; (7) register extra-provincially and obtain any municipal/sectoral permits (BizPaL helps identify them).

Federal online incorporation costs CAD $200 and is typically completed within one business day (a 4-hour express option is available for an added fee); the NUANS name-search report costs roughly CAD $14-$60. There is no minimum paid-in capital requirement under the CBCA.

The ICA only imposes a pre-closing review when a foreign investor acquires control of an existing Canadian business above high monetary thresholds. For 2026 the threshold is CAD $1.452 billion in enterprise value for WTO private investors, CAD $2.179 billion for trade-agreement private investors, and CAD $578 million in assets for WTO state-owned investors; below these levels only a post-closing notification is required, and greenfield incorporations are generally not caught.

IRCC closed the Start-Up Visa program to new applicants at 23:59 on 31 December 2025 due to a decade-long backlog; a narrow window remains for founders who already hold a 2025 letter of support from a designated organization (until 30 June 2026), and IRCC has said it will launch a new 'high-impact' entrepreneur pilot to replace it. Foreign founders can still incorporate and own a Canadian company without living in Canada; separate immigration status is only needed if they wish to work in Canada or reside long-term.