Canada has the 10th largest economy in the world with a 70% FDI increase in 2018. It is the best country for global investment in the world. Foreign Direct Investments (FDI) into Canada increased by 70% in 2018 while FDI flows into other economies dropped by 40%. There are multiple reasons to invest in Canada, not only from a financial standpoint but for your family’s future too. Canada is one of the safest countries in the world and offers a phenomenal free public healthcare and education system to all its citizens and permanent residents. It also offers a wealth of business and investment opportunities, particularly in the following industries:
- Digital Media
- Machinery and Equipment
- Renewable Energy
Why Invest in Canada’s Mining Sector?
Canada is the world’s top destination for non-ferrous mineral exploration investment. According to Trading Economics, GDP from the Canadian mining sector increased to $153,524 and has averaged at $122388.94 million from 1997 until 2019. Canada has an abundance of mineral and metal resources which is retrieved through sustainable development. Its access to reliable suppliers and the Canadian service industry is instrumental in optimizing the success of investments at all . Canada’s top 5 mineral products for 2018 were:
Top 5 Mineral Products in 2018 Mineral Product Mineral Production Value $ Billions Change (%) 1. Gold 9.6 9 2. Coal 6.4 2 3. Potash 5.5 26 4. Iron ore 4.8 2 5. Copper 4.5 -3
Below are our top 5 reasons to invest in Canada’s mining industry.
1. Global market access
Canada has consistently remained one of the most open trade and investment platforms for mining. It offers investors favoured access to more than 1.5 billion consumers in 51 countries and doesn’t restrict foreign participation in mineral resource development except for uranium. It also has trade and investment initiatives globally, including North America, Europe, Asia-Pacific, India, China, Korea, the Americas and Africa, as well as offering duty-free access to many global markets, including the US and Mexico.
2. Transport Infrastructure
According to World Bank, Canada has one of the world’s top logistical infrastructures. Canada is perfectly positioned to act as a central hub for trade and, according to Transport Canada, has one of the world’s best global transport infrastructure that facilitates continual supply and business operations by air(26 airports), seaports (17) and border crossings (117).
3. Sustainable Mineral Resource Development
Canada has implemented a Clean Growth Hub initiative, known as the Clean Growth in the Natural Resources Program, which is geared towards promoting clean technology research, development and demonstration projects in the mining, energy and forest sectors. The Canadian government has allocated $155 million over 4 years to fund these projects to promote low-carbon, low pollution and resource-efficient contributions to the Canadian economy.
4. Industry Expertise
Canada’s mining competence and proficiency lends itself to all areas of the mining sector including exploration, geophysics, geology, geochemistry, remote sensing, drilling, exploration, financing, investment analysis, due diligence, legal services, analytical laboratories, engineering services, logistical support, environmental management and more. As the most educated country in the world, with more than half of its citizens possessing post-secondary qualifications, Canada has also implemented skills development programs to ensure that it’s companies only employ skilled workers of the highest calibre. However, if the skills needed can not be filled locally, Canada’s immigration programs are designed to locate talented foreign workers through various programs in order to meet the demand of the industry.
5. Financial Incentives
There are a number of initiatives, incentives and programs that drives technology and innovation in Canada. Here are a few of these programs currently in Canada:
- Scientific Research and Experimental Development Program (SR&ED) – Canada’s tax credit program provides billions of tax credits and incentives to companies conducting R&D in Canada.
- Strategic Innovation Fund – bolsters business activities and investments
2. Low Costs
Canada also has the lowest business costs in the G7. Its overall tax rate on new business investments and business costs in advanced manufacturing and corporate service among G7 nations are one of the lowest globally, which means lower risk for prospective investors.
3. Access to Capital
Some of Canada’s leading equity markets house over 50% of the world’s public mining companies, including the Toronto Stock Exchange (TSX), and the TSX Venture Exchange (TSXV).
How Can I Invest in Canada’s Mining Sector?
The Investor Visa Program allows foreign immigrants to start or invest in a business anywhere in Canada. Qualified business people who have the ability to contribute to the growth of the country’s economy through investment are able to apply to live and work in Canada on a permanent basis. The best part about this visa is that your immediate family members qualify for permanent residence status too, which means that they too can invest in their future in Canada.
The basic requirements are as follows:
- Must intend on living and investing in any Canadian province or territory other than Quebec;
- Must possess sufficient business experience(owned and managed a business with at least 5 employees)
- Must have a minimum net worth of $1.6 million CAD;
- Must make $800,00 CAD investment to the Canadian government(returned after5 years without interest);
- Must meet health and security requirements of the Canadian Government.
If you are determined to make the move to Canada and dedicated to starting your own successful business or invest in an existing one, then look no further. Time is money, and let’s face it, your time could be better spent than fussing over visa applications and going back and forth between the Canadian government and immigration department. Why risk having your application rejected due to a technicality. Our 3 Regulated Canadian Immigration Consultants (RCICs) are all savvy experts in the field of Canadian immigration policy and will assist you through an eligibility assessment. A personalized immigration strategy will then be created and tailored to meet your specific requirements. We will ensure that all administration is taken care of (collecting and submitting of documents) and submitted in a timeous manner. Contact us today and invest in your future with Multi Dimension Consulting.