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This week, MSGL ventured into Belgium, a key step in strengthening our ties with local stakeholders and gaining a deeper understanding of the challenges faced by Belgian expatriates and businesses. We had the honor of meeting the American Chamber of Commerce in Belgium (AmCham Belgium). AmCham Belgium plays a central role in fostering economic relations between Belgium and North America. This meeting provided us with valuable insights into the challenges faced by Belgian companies and expatriates, whether it be in international taxation, cross-border mobility, or wealth management. Our mission: to support our clients with diligence, proximity, and expertise, whether in Belgium, North America, or beyond.

Strategic Business Planning:  Evaluate your readiness to launch your business, select the most suitable structure (sole proprietorship, corporation, cooperative), conduct market research to understand demand and competition, and create a solid business plan that outlines your objectives, strategies, financial forecasts, and planned actions. Choosing and Registering the Business Name:  Select a relevant, unique, and representative name for your business. Ensure the name is not already in use, then proceed with registration to secure legal protection and avoid potential rights conflicts. Official Registration with the Government:  Register your business or incorporate it according to its structure. Obtain a Business Number (BN) required for various administrative processes, and, if necessary, set up a tax account to streamline tax management. Obtaining Necessary Permits and Licenses:  Identify the permits and licenses required by federal, provincial, and municipal governments to legally operate your business. This may include environmental permits, professional licenses, or sector-specific authorizations. Support Programs and Funding Options:  Explore available support programs at local and national levels, particularly those aimed at immigrant and Indigenous entrepreneurs. Look into grants, loans, and other financial assistance to secure funding for your business. Free Tax Help and Advice for Your Business:  Consult with a liaison officer for free tax advice. Identify common accounting errors, learn best tax practices, and explore available tax deductions to optimize your business's financial management.

On October 30, 2024, the Quebec government announced the temporary suspension of two major immigration programs: the Regular Skilled Worker Program (RSWP) and the Quebec Experience Program (PEQ) for graduates. This suspension, effective immediately, will last until June 9, 2025. This decision aims to curb a higher-than-expected increase in new arrivals next year. With this eight-month moratorium, the government intends to limit the number of permanent residents admitted to the province, allowing for a reassessment and adjustment of its immigration policies based on current economic and social needs. Authorities have emphasized the importance of this pause to ensure better integration of new arrivals and address challenges related to housing and public service capacity. This measure will also help strengthen the vitality of the French language throughout the province. Potential immigration candidates are encouraged to stay informed of upcoming developments and consult official sources for updated information on available options after the suspension is lifted. Why turn to MSGL during a period of regulatory transition? Strategic analysis and adaptation:  MSGL helps you understand the implications of these changes on your immigration projects and explore alternative paths to achieve your goals. Tailored support:  Whether you are an individual looking to settle in Quebec or a business recruiting international talent, we provide personalized solutions to manage the transition and anticipate future steps. Updates and compliance:  We continuously monitor policies and regulations, ensuring you receive up-to-date advice and full compliance with new legislation.

Canada attracts many expatriates thanks to its quality of life, professional opportunities, and breathtaking landscapes. However, to succeed in your career project in Canada, it is essential to be prepared. Visas and Work Permits To work legally in Canada, it is imperative to obtain a work permit . Depending on your situation, several options are available to you. Here are the main programs to obtain a work permit: 1. International Mobility Program (IMP) The IMP  allows Canadian employers to hire foreign workers without having to prove that no Canadian is available for the position (i.e., without needing a Labour Market Impact Assessment (LMIA) ). This program promotes international mobility by facilitating the hiring of skilled workers, particularly for specialized professions or within the framework of international agreements like the North American Free Trade Agreement (NAFTA) . Who is concerned?  This program is available to nationals of certain countries, especially under free trade agreements (such as NAFTA or the CETA  with the European Union). Advantage:  No need to go through the cumbersome LMIA process, which speeds up the hiring process. 2. Temporary Foreign Worker Program (TFWP) The TFWP  is a program used by companies that seek to hire foreign workers when no Canadians are available to fill the position. In this case, the employer must submit an LMIA  to prove that hiring a foreign worker will not deprive Canadians of an opportunity. Labour Market Impact Assessment (LMIA):  The employer must prove they made efforts to recruit locally without success before hiring a foreign worker. Who is concerned?  This program is intended for employers who need foreign workers in sectors where demand is high or where there is a labor shortage. 3. Open Work Permit The open work permit  is an interesting option for some expatriates, as it allows them to work for any employer in Canada without needing a specific job offer at the outset. Who is concerned?  This permit is generally available to spouses of skilled workers, participants in the Working Holiday Program (WHP) , or foreign students who have graduated from Canadian institutions. Advantage:  It offers great flexibility, as you can change employers without having to undergo new permit procedures. 4. Working Holiday Program (WHP) The WHP  allows young nationals of certain countries (including France and Belgium) to work in Canada for a specific period (up to 2 years for French nationals). Who is concerned?  Young people between 18 and 35 years old (depending on the agreements between Canada and the country of origin). Advantage:  This program is ideal for those who want to explore Canada while having the opportunity to work. 5. Post-Graduation Work Permit (PGWP) Foreign students who obtain a diploma in Canada may be eligible for a post-graduation work permit  that allows them to work in Canada after their studies. Who is concerned?  Graduates of a designated Canadian institution. Duration:  This permit can be valid for up to 3 years, depending on the length of the study program. Advantage:  It allows new graduates to gain Canadian work experience, which is often an asset for a future permanent residency application. The Job Market The job market in Canada varies by province. The most dynamic sectors are: Information Technology , particularly in Montreal and Toronto. Healthcare , with a constant demand for qualified professionals. Engineering  and construction trades  in Western Canada, especially in Alberta and British Columbia.

Business Valuation: An Essential Service for Strategic Decisions Business valuation is a critical step in the context of a transaction (buying, selling, merging) or for fiscal needs (taxation, inheritance, donations). A precise and rigorous valuation helps determine the fair value of your business, ensuring full transparency in your transactions and compliance with tax obligations. Through Soqio Valuation, a subsidiary of our group, we support business leaders, shareholders, investors, and finance professionals in their strategic decisions by providing meticulous and tailored business valuation services. Our Services We provide a range of services tailored to our clients' needs. Here’s an overview of the services we offer: Transactional Valuation:  In the context of mergers and acquisitions, fundraising, or sales, we evaluate companies to determine the fair value of shares or equity, ensuring transparent and equitable transactions. Fiscal Valuation:  Our experts assist in valuing businesses and assets to meet tax obligations, particularly in the context of restructurings, transfers, or tax disputes. 409A Valuation:  We conduct independent valuations in compliance with U.S. regulations for granting stock options and other equity-based compensation, ensuring adherence to the legal requirements of Section 409A. Purchase Price Allocation (PPA):  Following an acquisition, we allocate the purchase price to tangible and intangible assets, as well as liabilities, to optimize your accounting and meet financial reporting standards. Transfer Pricing:  We provide attestation and analysis services to ensure that intra-group transactions comply with international tax regulations, minimizing the risk of tax audits. Tailored Expertise We work with businesses of all sizes across a variety of sectors. Whether you're a family-owned SME or a large international corporation, our experts customize their approach to meet the specific challenges of each structure. Our valuations are conducted with the utmost transparency and in strict compliance with current standards, ensuring reliable, certified reports that can be used directly in your negotiations. Why Choose Us Expertise:  Our appraisers are experienced professionals with deep knowledge of financial markets and the latest developments in international tax regulations. Responsiveness:  We are always available and ensure smooth, rapid communication. Our agile and transparent approach allows us to quickly carry out our missions, addressing urgent needs. Adaptability and Flexibility:  Each business is unique, and we adapt our tools and methods to your specific needs, whether for mergers and acquisitions, fundraising, or reorganizations. Soqio Valuation stands out for its ability to tailor its services according to your situation and objectives. https://soqioevaluation.com/

Family Business Transfer: Opportunities and Challenges of Valuation with Bill C-208 in Quebec The transfer of a small business or a family farm/fishing corporation to the next generation has always been a strategic and fiscal challenge for many business owners in Quebec. With the adoption of Bill C-208 at the federal level, this step becomes even more critical as it offers a more favorable tax framework for intra-family transfers. We are here to assist you in optimizing this transition by accurately valuing your business to maximize the benefits provided by both federal and provincial legislation. Why is a thorough valuation essential? Bill C-208 introduces specific conditions to benefit from capital gains tax relief during the transfer of a family business. Among these requirements, it is crucial to provide affidavits and professional valuation reports to demonstrate that the transaction meets the necessary criteria. However, for businesses located in Quebec, it is also important to consider the province's unique tax regulations. Quebec has its own tax system, which includes additional tax credits or reliefs for family business transfers. A proper valuation must therefore account for both federal and provincial requirements. Tax specifics in Quebec In addition to Bill C-208, Quebec offers specific tax measures to encourage family business transfers. As a business owner in Quebec, you may potentially benefit from several additional advantages, such as: Tax credit for family business transfers:  This provincial tax credit helps reduce the tax payable when transferring a family farm or fishing business. Exemptions on capital gains:  Quebec offers additional tax exemptions on capital gains realized from the sale of a small family business, under certain conditions. These tax incentives are designed to encourage the continuity of family-owned businesses in the province. A well-thought-out strategy in Quebec can not only maximize federal tax benefits through Bill C-208 but also optimize the credits and exemptions offered by Quebec. Our support services in this dual tax context We offer comprehensive support to facilitate the transfer of your family business while taking advantage of the best tax opportunities, both at the federal and provincial levels. Our services include: Complete business valuation:  We provide a detailed valuation, taking into account both tangible and intangible assets, to determine the fair market value of the business. Affidavit preparation:  In compliance with Bill C-208, we assist you in drafting the necessary affidavits to certify the transaction. Compliance certification:  We ensure that your transaction fully complies with Bill C-208 conditions as well as Quebec’s specific tax regulations. Strategic advice:  We help structure the transfer of your business to maximize tax benefits while adhering to federal and provincial requirements. Why choose us? Transferring a business in Quebec requires expertise at both federal and provincial levels. A proper valuation allows you not only to benefit from the tax advantages of Bill C-208 but also to leverage Quebec’s specific tax opportunities. Through our subsidiary, Soqio Evaluation, we have deep expertise in valuing businesses in Quebec, particularly in the context of family transfers. By choosing us, you are assured of personalized support that considers all tax nuances, allowing you to transfer your business under the best conditions for both your family and your business. https://soqioevaluation.com/

On October 16th, a conference will be held at the Maison de l'Expatriation in New York, led by Jean-Philippe Saurat, partner at Massat Consulting Group. Jean-Philippe Saurat will provide an in-depth overview of the essential tax obligations for those changing their tax residence as well as for individuals preparing to return to their home country. During the conference, several critical points will be discussed, including the administrative and tax procedures that should not be overlooked, as well as the risks to anticipate during the fiscal transition between the United States and France. This conference will give participants a clear understanding of the tax challenges, helping them navigate this complex landscape with more confidence and avoid potential pitfalls.

In recent years, the topic of taxing French citizens living abroad has gained significant attention. The French government has proposed various strategies to ensure that expatriates contribute to the national economy. However, the challenges surrounding this ambitious endeavor are formidable. The complexity of legal frameworks, the realities of tax evasion, and the emotional ties expatriates maintain with their home country intertwine to create a scenario that makes effective implementation difficult, if not impossible. One of the primary obstacles facing the French government in executing its promise to tax expatriates is the intricacy of international tax law. Taxation is common around the globe, yet the rules that govern how individuals and corporations are taxed can differ markedly from one country to another. French citizens residing in countries with favorable tax conditions often find themselves in a loophole, allowing them to avoid hefty taxation. This phenomenon raises questions about fairness and equity for those who continue to pay taxes in France. The existing double taxation treaties between France and other nations often favor the latter, complicating any efforts by France to impose a tax on its expatriates. Moreover, the issue of tax evasion is a significant concern for the French government. Many expatriates, in an attempt to minimize their tax obligations, may engage in practices such as relocating assets or underreporting income. While these actions are not exclusive to the French, they highlight a broader global issue where individuals leverage their international status to evade taxation. The potential for tax evasion becomes even more pronounced with digital financial services that provide the means to conceal income and assets across borders. As long as individuals can navigate these complexities, the French government's efforts to enforce tax obligations for expatriates may prove futile. Furthermore, the practicalities of tax compliance also play a critical role. Many expatriates lead complex financial lives that involve multiple currencies, various income streams, and differing legal obligations. This complexity can make compliance onerous, leading many to either inadvertently fall into non-compliance or choose to disengage from the French tax system altogether. The additional burden placed on them by a foreign tax system risks driving them further away from their obligations toward France, ultimately undermining the government's aims. In conclusion, while the idea of taxing French citizens abroad may sound appealing as a means to bolster the national treasury, the reality is fraught with challenges. Only through a nuanced understanding of the expatriate experience can France hope to create a fair and effective taxation policy. Such a re-evaluation could turn a seemingly impossible promise into a more viable reality for both the government and its citizens living abroad.

Canada is experiencing a strong economic recovery, with lower interest rates and an increase in foreign investments. To take full advantage of this favorable environment, businesses must adopt the right strategies. Here are four key areas to ensure sustainable growth. 1. Innovate and Adapt Innovation is crucial in a constantly evolving environment. Incorporating technologies like AI and automation helps optimize processes and maintain competitiveness. Strengthening cybersecurity is also essential to protect data and intellectual property. 2. Diversify Markets Expanding into new markets, both geographically and sectorally, is vital to mitigate risks and seize new opportunities. Conducting thorough analyses of local trends and collaborating with established players can accelerate diversification efforts. 3. Mergers and Acquisitions (M&A) M&A offers opportunities for rapid growth. However, to succeed, it's crucial to carefully evaluate target companies and plan post-acquisition integration effectively to maximize synergies. By following these strategies, businesses can navigate successfully through this period of growth.

Thomas and Jean-Philippe had the opportunity to participate in a networking event yesterday in Montreal, a great opportunity to interact with key players in the business world. They shared enriching discussions around business growth in North America. “ It is always inspiring to meet professionals motivated by international expansion, and to discuss concrete solutions to support French companies in their establishment here ,” Jean-Philippe emphasized during the evening. Thomas, meanwhile, was able to discuss our expertise in international accounting and how we help our clients navigate cross-border tax complexities. This type of event is an ideal opportunity for MSGL to strengthen its relationships and discover new ways to support businesses and expats. Many thanks to the organizers and everyone who helped make this evening productive and enjoyable. We look forward to continuing these conversations at future events!