Google Translate
Translation – Explanation and Caution

The electronic translation service on the City of Surrey’s web site is hosted by Google Translate. The quality of the translation may vary in some of the languages offered by Google. The goal of the basic translation is to capture the general intention of the original English material.

Google Translate is a free service and currently offers translation in over 50 languages. Unfortunately, not all the languages spoken in the City of Surrey are translated. Punjabi is one of the languages not currently offered, and to remedy the situation, the City has been in contact with Google and they have committed to making Punjabi available in the future.

The City of Surrey cannot guarantee the quality, accuracy, or completeness of any translated information. Before you act on translated information, the City encourages you to confirm any facts that are important to you and the decisions you make.

The City of Surrey offers interpretation services at all its facilities. If you have a question about the material you read on our web site, we encourage you to stop by a City facilities to discuss it. You can also contact the City at (604) 591-4011 to receive interpretation support.

The City is committed to enhancing the accessibility of its web site to all its citizens, and appreciates any feedback that it receives.

Chinese, Korean, Punjabi, Tagalog, Hindi

Funding for a Business

Surrey

 

Incentives for Clean Energy Companies

The City of Surrey provides incentives for new clean energy companies choosing to locate in Surrey:

  • Eliminate property taxes for 3 years from the date of occupancy of the company premises;
  • Reduce building permit fees by 5% in  relation to the construction of the company premises; and
  • Reduce the business license fee to $1 for the first three years of company operation.

The City of Surrey is working with industry, government, and academic partners to create a “clean energy hub” to encourage clean energy companies to build and operate their business in Surrey. 

 

Incentives for Surrey’s Economic Investment Zones

To encourage new investment and job creation in Surrey’s City Center and in the Bridgeview and South Westminster areas, the City of Surrey has designated these areas as economic investment zones:

 

City Centre Investment Zones:

  •  Business Development Projects valued greater that $10M
    1. No property taxes for 3 years
    2. DCCs Reduced by 30%
    3. Deferred DCC payments
    4. Building permit fees reduced by 50%
    5. Density-bonus waived
  • High Density Residential Projects valued greater than $25M
    1. Deferred DCC Payments
    2. Building Permit Fees Reduced by 50%
    3. Density-bonusing waived

Bridgeview/South Westminster Investment Zone

  • Projects valued greater than $5M
    1. No property taxes for 3 years
    2. Deferred DCC payments
    3. Building permit fees reduced by 50%

For more information please download the Economic Investment Action Plan II.

 

British Columbia

 

B.C. offers many incentives for various sectors, a competitive tax climate and low operating costs to companies and fosters a positive business environment. 

 

A Competitive Tax Climate

  • Corporate tax rates have been reduced by 1/3 since 2001 to 10.5% 
  • Individuals with annual income up to $118,000 pay the lowest provincial taxes in Canada

Low Operating Costs

  • Production machinery and equipment is exempt from property and sales tax
  • BC does not have provincial payroll taxes

Incentives for Many Sectors

  • International Financial Centre of BC: offers attractive incentives to corporations and key staff conducting international activities from BC: 100% refund of BC personal income tax paid by registered specialists recruited from abroad who perform qualifying work for first 2 years
  • Film Production & Related Services: 33% of eligible labour expenses are refundable as a tax credit for movies and TV projects filmed in BC
  • General Manufacturing: No sales tax collected on purchases of production machinery and equipment
  • Research & Development by Knowledge Based Industry: 10% tax reduction on eligible R&D expenditures to all corporations
  • Mining Exploration & Production: Tax credit of 30% for exploration in areas affected by the Mountain Pine Beetle infestation
  • Oil & Gas Exploration & Green Energy: New wind power projects are exempt from provincial participation rents

Incentives for Investment Capital

  • 30% of an individual’s investment in a Venture Capital Corporation is refundable tax credit up to a maximum of $60,000 per year

For more information please visit www.investbc.ca

 

Federal

 

The Government of Canada offers grants and loans for:

  • Starting, buying or expanding a business
  • Aboriginal peoples, immigrants, women and youth
  • Specific industries like green energy, agriculture and technology

Canadian New Comer Entrepreneur Program

  • Loans of up to $15,000 is available to new immigrants to Canada between the ages of 18-34 to start their own business

Women’s Enterprise Initiative Loan Program

  • Women seeking to own their own business can apply to gain funding of up to $150,000

B.C. Venture Capital Program

  • Small incorporated businesses needing to expand business can attract potential investors who can get a 30% refundable tax credit if they invest

Canada Small Business Financing Program

  • Loan helps you secure up to $500,000 from your financial institution to cover costs to purchase or improve land or property, and purchase new equipment or improve used equipment

 For more information please visit Canada Business at www.canadabusiness.ca