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Services · Business accounts

Business accounts: Canada

An honest assessment before work starts, the quote is fixed in writing.

We assess your chances against your profile, prepare the compliance file, help you present your source of funds properly and handle communication with the bank until it decides. The final decision always rests with the bank, so no one can guarantee an opening - careful preparation simply improves the odds.

We quote the exact cost for this country after a short consultation: it depends on the bank and your residency. The quote is fixed in writing before work starts.

Fees

ServicePrice
Corporate account - opening assistanceon request

Prices are indicative and cover our work on a typical case. We confirm the exact quote in writing after a short call - you know the final number before we start. Government fees and bank tariffs are billed separately unless explicitly included.

See also

Company formation · Personal account · Investment property · All country programs

FAQ

Can a non-resident open a business bank account in Canada?
On paper yes, if the company is incorporated in Canada and there is a signatory the bank can identify. In practice the major banks nearly always want a director to show up at a branch in person and want to see a real link to Canada - customers, suppliers, an office. Fully remote corporate onboarding for foreign owners is rare.
Do I need a Canadian resident director?
It depends on where you incorporate. A federal CBCA corporation must have at least a quarter of its directors resident in Canada, while several provinces, including British Columbia and Ontario, have no director residency requirement at all. The bank looks past the legal minimum at who actually runs the company and whether that person can be verified.
What does the bank ask for when opening a company account?
Incorporation documents, the ownership chain down to beneficial owners, a description of the business, expected turnover, main counterparties and the countries you will send money to. Canadian banks report to FINTRAC, so questions about source of funds and origin of capital are unavoidable. A clear business model shortens the review.
How long does it take and can the bank refuse?
Straightforward cases are decided within days of the branch meeting; layered structures with foreign owners take weeks. A bank can decline without giving a reason, and it is entitled to. Payment providers can cover some flows in the meantime, but they do not replace a full operating account.

Don’t want to figure this out alone?

We handle the whole process end to end: we assess your company's chances with specific banks, prepare the compliance file and give you honest timelines. Leave your details and a corporate banking expert will get back to you. The first consultation is free.

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