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What happens if my Canadian company is not profitable in the first year?

There is no legal requirement to be profitable in the first year. It takes time and consistent effort to build a profitable company in Canada and anywhere in the world. However, your company must be genuine and actively engaged in business, which means it must be offering services or goods to its customers in Canada or abroad. Also, your company must have a physical location (office or warehouse) and employ at least one Canadian employee who is a PR or a citizen of Canada.

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