Once a Canadian business has been established or acquired, any profits from that business can be freely paid out to the foreign investor, as Canada has no system of exchange control. Therefore, Canadian dollar income can be freely exchanged into another currency at the best available rate of exchange and sent out of the country. The only restriction on such payments is the requirement to satisfy Canadian withholding tax obligations. (For more information concerning withholding tax obligations, see the discussion under the section below, entitled “Income Tax Considerations”.)
Additional posts from the blog
On February 6, 2014, the Ontario Securities Commission (“OSC”) released OSC Staff Notice 51-722 Report on a Review of Mining Issuers’ Management’s Discussion and Analysis Guidance (the “Report”). The Report summarizes the results of a review conducted by the OSC of the annual and interim Management’s Discussion and Analysis (MD&A) filed by 100 mining companies with market capitalization of less than $100 million (the “Review”) and is designed to serve as a tool to assist small mining companies to navigate regulatory requirements.
Alberta Securities Commission publishes Staff Notice 91-704 Over-the-Counter Derivatives Transactions
On January 2, 2014, Alberta Securities Commission (“ASC”) staff published Staff Notice 91-704 Over-the-Counter Derivatives Transactions (“ASC Staff Notice 91-704”) summarizing the current regulatory framework governing over-the-counter (“OTC”) derivatives trades in Alberta.
On December 18, 2013, Hydro-Québec Distribution (“HQD”) officially launched call for tenders A/O 2013-01 for the purchase of a 450 MW block of wind power (“A/O 2013-01”).