If your business operates in Canada, it makes sense to open a Canadian business bank account. This makes it easy to pay your employees and suppliers in Canadian dollars, and to accept payments from your customers. And even if you\u2019re not a Canadian resident, it\u2019s still possible to open a business bank account in Canada.<\/p>
Here\u2019s what you need to know about business bank accounts for non-Canadian residents, including popular accounts to consider.<\/p>
Yes, it\u2019s possible to open a business bank account in Canada as a non-resident, but it depends on the bank you choose.<\/p>
There\u2019s no legal requirement for you to be a Canadian resident to open an account. But individual banks and financial institutions have their own eligibility requirements, so whether or not you can open a business account depends on the provider you choose. And while some providers allow you to open an account online from wherever you are in the world, others require you to visit a Canadian branch to confirm your identity first.<\/p>
One option is to consider opening an account with a bank that has an international presence, and that operates in your home country as well as in Canada. For example, if you\u2019re a US resident, several major Canadian banks also have branches in the USA.<\/p>