A leading steel tube manufacturer with extensive US operations saw an opportunity to expand into Canada, but had no knowledge or experience in setting up operations north of the 49th parallel.
We worked with the US management and finance teams to ensure the Canadian back office operations were set up and ready to go, so the sales and manufacturing teams could hit the ground running:
- Structure. We facilitated the set up of a holding company, along with an operating subsidiary registered to do business in various Canadian provinces, all designed to maximize tax deferral opportunities.
- Compliance. We registered the entities with all required federal and provincial sales tax, payroll, health and safety and other government authorities.
- Accounting Set Up. We advised on the accounting set up in the company’s legacy ERP application to facilitate capturing and filing of all Canadian taxes and withholdings.
- Executive Compensation. We recommended tax efficient compensation strategies for executives relocated from the US as well as those hired in Canada.
Within 6 months, the company was up and operating in Canada. Without the risk of going offside on compliance, the company could focus on sales, resulting in triple digit annual growth for the Canadian division.