General Information

There are many business and investment opportunities in Canada. The country has a dynamic business environment, a skilled workforce and competitive costs. Furthermore, market access for businesses is facilitated by the Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union (CETA). This free trade agreement aims to eliminate or reduce barriers to trade between the two markets.

Means of Payment & Banking Specificities

Banking products and vocabulary may be different from French practices. Furthermore, banking compliance rules are extremely strict in Canada. It is therefore strongly recommended to be supported by your French bank to have access to local banking services. This saves time and avoids certain pitfalls.

Certain documents necessary for opening an account may be requested such as: the registration certificate, the articles of incorporation, the organization chart of ultimate shareholders, the identification of partners and signatories and the bank recommendation letter among others. other elements. This approach is linked to the country's important objective to combat money laundering and terrorist actions which requires in-depth checks by banks on customers, particularly those with foreign shareholders. These are Know Your Customer (KYC) measures.

Cashing checks is not a recommended method of payment. Recourse procedures in the event of non-payment are often costly, cumbersome and uncertain.

The concept of credit history is very important in the country. You have to prove that you are a good payer. For local financing of a Canadian subsidiary of a French company which does not have a credit history in Canada, a guarantee from the bank of the parent company may be requested.