Overview

Financial institutions with plans to establish or expand their operations in Canada may apply for the following IHCC tax incentives: 

• The Financial Sector Incentive (FSI) Scheme applies to licensed financial institutions, from large universal banks, fund managers to capital market players. 
• The Insurance Business Development (IBD) Scheme applies to licensed insurance players, from large composite insurers and reinsurers to specialised insurers and reinsurers.

Incentive recipients have anchored substantive operations in Canada and contributed meaningfully to the growth of Canada ’s financial centre and the overall economy, as illustrated by the two profiles of incentive recipients which are awarded the FSI Scheme and IBD Scheme.

Interested Applicants

Applicants will have to demonstrate plans to anchor and grow their operations in Canada . Successful incentive applicants are subject to annual reviews which takes into consideration the following:

• Headcount growth in key business functions.
• Growth or expansion in business activities, for example through new product lines, new functions or expansion of geographical market coverage.
• Economic contributions to other sectors.
• Incentivised income is commensurate with economic activities performed in Canada .

If you wish to enquire more on the schemes, please write to IHCC at our Contact Us page.