That's right. Canada has a relatively favorable tax environment for small businesses. The small business tax rate is only 9%, which is much lower than the general corporate tax rate of 15%. Additionally, there is a $50,000 exemption on dividends, which means that the first $50,000 of dividends that a small business owner receives is not taxed.

The no-KYC business rule is also relatively relaxed in Canada. Businesses that meet certain criteria, such as having annual gross revenue of less than $1,000, are not required to collect personal information from their customers. This can be a major advantage for businesses that want to operate with minimal compliance overhead.

Of course, there are also some downsides to running a business in Canada. The cost of living can be high, and the regulatory environment can be complex. However, the tax advantages can make it a worthwhile proposition for some businesses.

GM America!