Transcript
Page 1: Doing International Business In British Columbia: The Competitive Advantage October 2006

Doing International Business In British Columbia:

The Competitive Advantage

October 2006

Page 2: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #2

Robert Fairweather, President

Chris Gimpel, Associate Partner

Page 3: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #3

Overview And HistoryEligible Activities

What British Columbia Offers

Starting An International Financial Business

Page 4: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #4

What Are The Tax Benefits?

Corporations carrying on a registered International Financial Business are eligible for a refund of up to 100% of their provincial corporate income tax.

Consider a company with $750,000 in qualifying income…

Pr/StateTax

Federal Tax

Total Tax

Effective Rate

British Columbia British Columbia (IFC)(IFC) 00 165,900165,900 165,900165,900 22.12%22.12%

Alberta 75,000 165,900 240,900 32.12%

Quebec 74,250 165,900 240,150 32.02%

Ontario 105,000 165,900 270,900 36.12%

Oregon 49,500 238,170 287,670 38.36%

California 66,300 232,460 298,760 39.83%

OVERVIEW AND HISTORY

Page 5: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #5

The International Financial Activities Act (IFA Act)

The IFA Act, administered through the International Financial Activities program, provides eligible corporations with a refund of British Columbia corporate taxes paid on income derived from a qualifying international financial business.

In general, qualifying activities are financially based and one side of the transaction is with a non-resident of Canada.

On January 1, 2006, the IFA Act was amended to include refunds on British Columbia corporate taxes paid on income derived from life science patents.

OVERVIEW AND HISTORY

Page 6: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #6

Fund and asset managementFinancial researchFactoringLeasingExport and import financingAdministrative support for financial activitiesForeign exchangeLife Science Patents (new)

Loans and depositsTrade financeTrust businessDealing in securitiesInsurance coverage of non-residentsFinancial adviceUnderwriting foreign securitiesFilm distributionData back up

What Activities Are Eligible?

In general, qualifying activities are financially based and one part of the transaction is with a non-resident.

OVERVIEW AND HISTORY

Page 7: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #7

History Of The International Financial Centre BC

Provincial

British Columbia passed legislation to allow profits

from international financial businesses to be eligible for

a refund from provincial taxes.

British Columbia passed legislation to allow profits

from international financial businesses to be eligible for

a refund from provincial taxes.

In 1986, an amendment to the Income Tax Act of Canada

allowed for the establishment of international banking

centres in Canada.

In 1986, an amendment to the Income Tax Act of Canada

allowed for the establishment of international banking

centres in Canada.

Federal

International Financial Centres

OVERVIEW AND HISTORY

Page 8: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #8

Provincial Initiatives

OVERVIEW AND HISTORY

International Financial Centre Vancouver

International Financial Business Act

(1988)

International Financial Business Act

(1988)

International Business (Tax Refund) Act

(1988)

International Business (Tax Refund) Act

(1988)

Page 9: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #9

Early Issues

2. Allow non-arms-length transactions.

1. Expand the opportunity to the entire corporate community, not only financial institutions.

3. Extend locations to the entire province, not only Vancouver.

It became evident that certain restrictions had to be lifted.

OVERVIEW AND HISTORY

Page 10: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #10

Pressing For Change

OVERVIEW AND HISTORY

Business Council of BCBusiness Council of BC

MLA’sCorporations

Vancouver Board of Trade

Vancouver Board of Trade

Investment Dealers Association

Investment Dealers Association

Vancouver Economic Development

Council

Changes to the

Legislation

Changes to the

Legislation

Page 11: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #11

All companies are eligible.The financial institution requirement was eliminated and eligibility based on qualifying activities.

The International Financial Activities Act of 2004

Non-arm’s length transactions are allowed.Companies benefit from qualifying activities with affiliates and related parties.

Companies located anywhere in the Province can register.

There are no restrictions on where a company can locate in British Columbia.

OVERVIEW AND HISTORY

Page 12: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #12

Treasury OperationsTreasury Operations

Trade FinanceTrade Finance

Foreign ExchangeForeign Exchange Captive InsuranceCaptive Insurance

Administrative Support•Back Office

•Data Storage & Back up

Administrative Support•Back Office

•Data Storage & Back up

Life Science PatentsLife Science Patents

Financial ActivitiesFinancial Activities Film DistributionFilm Distribution

OVERVIEW AND HISTORY

The International Financial Activities Act of 2004

Eligible ActivitiesEligible Activities

Page 13: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #13

The International Financial Centre BC has existed through three different governments, four leaders, and five elections.

Stable Through Various Governments

May-05 Liberal Gordon Campbell Centre-right

May-01 Liberal Gordon Campbell Centre-right

Oct-96 New Democratic Glen Clark Left

Oct-91 New Democratic Mike Harcourt Left

Oct-86 Social Credit Bill Vander ZalmConservativ

e

Party Leader Policies

OVERVIEW AND HISTORY

Page 14: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #14

Overview And History

Eligible Activities

What British Columbia Offers

Starting An International Financial Business

Page 15: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #15

Loans and deposits to non-residents.

Cash management.

Certain hedging transactions.

Managing foreign exchange activities of non-resident persons.

Managing investments for non-resident persons.

Treasury Operations

ELIGIBLE ACTIVITIES

Eligible activities include:

Page 16: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #16

Factoring Receivables

Collecting trade accounts receivable.

Must be receivable from a non-resident person.

Must be purchased outright and without recourse from the seller.

ELIGIBLE ACTIVITIES

Eligible activities include:

Page 17: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #17

Administrative support services directly related to a financial activity of a non-resident financial business.

Excludes call centres, marketing, and advertising.

Internal support, such as a computer help-desk.

Back-up office services, equipment, and premises to continue the business operations of a non-resident in case their primary business becomes temporarily unusable qualifies.

Administrative Support Services

ELIGIBLE ACTIVITIES

Eligible activities include:

Page 18: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #18

Making loans in any currency.

Borrowing in any currency.

Guaranteeing the payment of debts where non-resident debtors and creditors.

Accepting deposits or making deposits with a non-resident or prescribed business.

Loans and Deposits

ELIGIBLE ACTIVITIES

Eligible activities include:

Page 19: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #19

Providing financial advice to non-resident persons (except prescribed financial advice).

Managing investments for a non-resident for a fee or commission.

Managing investments in securities for resident Canadians where the issuer is a non-resident and securities are not listed on Canadian stock exchange.

Eligible activities include:

Asset Management

ELIGIBLE ACTIVITIES

Page 20: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #20

Selling, assigning, or licensing rights to distribute a film or television production outside Canada;

To exploit outside Canada anything related to a production.

Film Distribution

ELIGIBLE ACTIVITIES

Eligible activities include:

Page 21: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #21

On January 1, 2006, the IFA Act was expanded to include activity related to certain Life Science patents. Activities are eligible for a refund of Provincial tax for up to 75% of net income to a maximum of $8 million.

Eligibility is defined according to the IPC patent class and includes patents for:

Certain medical treatment and diagnostic processesDrugs and pharmaceuticals Certain agricultural productsBiological treatments of water and sewageMedical devices.

Life Science Patents

ELIGIBLE ACTIVITIES

Page 22: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #22

Selling, assigning, or licensing a prescribed patent to a non-resident.

The sale of a good or service derived from an invention for which a prescribed life sciences patent is owned by the corporation. The sale must be to a non-resident.

The non-resident may be at arm’s length or non arm’s length.

Life Science Patents

ELIGIBLE ACTIVITIES

Eligible activities include:

Page 23: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #23

Insurance and reinsurance qualifies.

Must be prescribed risk of a non-resident.

Arms-length rule applies except for a captive insurance company.

Captive Insurance

ELIGIBLE ACTIVITIES

Eligible activities include:

Page 24: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #24

Leasing property to non-residents by way of a direct financing lease.

Any other prescribed financial activity conducted exclusively for non-residents, where the corporation earns a fee or commission income.

Other International Financial Activities

ELIGIBLE ACTIVITIES

Eligible activities include:

Page 25: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #25

How Does an IFC Operate?

ELIGIBLE ACTIVITIES

Page 26: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #26

Profits are eligibleFor

Provincial tax refund

Profits are eligibleFor

Provincial tax refund

$ Remitted to Parent

$ Remitted to Parent

Treasury

Multinational Inc.

Provides Treasury Services

Asian Subsidiary

US Subsidiary

European Subsidiary

IFC BC Multinational, Inc.

Treasury Operation•Located in BC

•Registered under the IFA Act

IFC BC Multinational, Inc.

Treasury Operation•Located in BC

•Registered under the IFA Act

Fees

ELIGIBLE ACTIVITIES

Page 27: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #27

Profits are eligibleFor

Provincial tax refund

Profits are eligibleFor

Provincial tax refund

$ Remitted to Parent

$ Remitted to Parent

Factoring Receivables

Multinational Inc.

Payment

Sales to Unrelated Companie

s

Asian Company Inc.

US Company Inc.

European Company Inc.

ELIGIBLE ACTIVITIES

Sells Receivables to IFC Co.

IFC BC Factoring Company, Inc.

•Located in BC•Registered under the IFA Act

IFC BC Factoring Company, Inc.

•Located in BC•Registered under the IFA Act

Payment for Receivables

Page 28: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #28

Specialists are entitled to receive up to 75% refund of BC tax on IFA eligible employment income for a maximum of five years.

At least 70% of time must be devoted to qualifying activities.

The individual must be a non-resident immediately before commencing employment. A written contract with the registered corporation must exist to govern the terms of the contract.

The individual must be resident of BC on last day of taxation year.

Individuals Can Qualify as Specialists

ELIGIBLE ACTIVITIES

A registered corporation can apply to register an employee as an IFA Specialist.

Page 29: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #29

Overview And History

Eligible Activities

What British Columbia Offers

Starting An International Financial Business

Page 30: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #30

Source: Institute of Chartered Accountants, 2005; Ministry of Finance, Government of BC, 2006; Statistics Canada 2006.

The BC Government is committed to balancing the budget on an ongoing basis. The 2005/06 surplus was $3.1 billion, $1.8 billion higher than originally estimated.

A surplus of $600 million is expected in 2006/07. Once again, Standard & Poor’s boosted British Columbia’s credit rating to AA+ from AA as a result of sound fiscal management.

WHAT BC CAN OFFER

Responsible Fiscal Management

Page 31: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #31

The World Bank ranked Canada 4th out of 175 countries for ease of doing business.

The corporate surtax will be eliminated for all corporations, effective January 1, 2008.

The federal capital tax on the taxable capital employed in Canada by large corporations is zero, effective January 1, 2006—two years ahead of schedule.

For corporations, the net tax rate of 22.12% will be reduced to 19% by 2010.

The GST was reduced by 1% in 2006.

Source: Department of Finance, Canada 2006, CBC News 2006

A Supportive Federal Government

WHAT BC CAN OFFER

Page 32: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #32

Since 2001, BC has made dramatic changes designed to strengthen the economy and make it the best place to invest in North America.

Implementing 31 provincial tax relief measures, including a 20 per cent cut in the corporate income tax rate, elimination of the general capital tax, and a 25 per cent cut in personal income tax rates;

New or enhanced tax credits and exemptions for software development, manufacturing, mining, oil and gas, film and TV production, new media, and international financial activities.

Source: Government of BC

A Supportive Provincial Government

WHAT BC CAN OFFER

Page 33: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #33

Real GDP Per Capita in BC has outperformed Canada.

Source: Statistics BC

A Strong Economy

WHAT BC CAN OFFER

Page 34: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #34

Source: Government of BC, sourced from 2001 Census, Statistics Canada

Languages Spoken in British Columbia

A Multi-Lingual Environment

Chinese 16.93

%

French 12.22

%

Punjabi 6.43%

German 5.37%

Spanish 3.48%

Hindi 2.87%

Tagalog (Filipino) 2.37%

Italian 1.93%

Dutch 1.46%

Japanese 1.41%

Vietnamese 1.34%

WHAT BC CAN OFFER

Page 35: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #35

25,000 new student spaces at colleges, university-colleges, universities, and institutes.

$90 million for a new tax credit program to expand training opportunities in trades.

$39 million to increase apprenticeship training.

$50 million to support economic development and diversification through research in sciences and engineering through grants and fellowships.

Source: Government of BC

British Columbia’s Commitment to the Future

WHAT BC CAN OFFER

Page 36: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #36

The Mercer Group’s 2006 Quality of Life Survey ranks Vancouver third worldwide--first in North America. 

Mercer’s 2006 Cost of Living Survey shows Vancouver ranks behind 55 other cities.

A study by New Media found that the top reason for locating in BC was the desirable west coast lifestyle. 152 companies ranked lifestyle as extremely important, compared to the large talent pool, which was ranked as extremely important by 107 companies.

British Columbia is a magnet for skilled and creative people.

Source: Mercer Report 2006, New Media, 2003

The Ability to Attract Talent

WHAT BC CAN OFFER

Page 37: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #37

Figures are for Average Compensation. Source: WSJ.com, Salary Expert.com, Dow Jones and Company, 2006.

Salary BenefitsTotal

Compensation

Vancouver, BC 38,666 5.9% 45,238

Seattle, WA 64,708 14.1% 80,979

Newark, NJ 62,145 13.1% 77,152

San Diego, CA 55,212 15.3% 69,758

Portland, OR 57,874 14.7% 72,775

Annual Salary: Accounts Receivable Manager (US$)

Low Labour Costs

WHAT BC CAN OFFER

Page 38: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #38

Utilities Facility LeaseVancouver, BC 448 460Newark, NJ 510 608San Diego, CA 551 702Seattle, WA 429 450Portland, OR 445 394

Source: 2006 KPMG Competitive Alternatives. (C$1.174)

Average Annual Costs (US$000)for 145 Employees in a Back Office/Administration Facility

22,500 sq.ft (2,090 sq.m) facility

Monthly Consumption 125,000 kWh

Low Energy & Property Costs

WHAT BC CAN OFFER

Page 39: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #39

Average Annual Costs (US$000)for 145 Employees in a Back Office/Administration Facility

Notes: •22,500 sq.ft (2,090 sq.m) facility•Exchange Rates: C$1.174, €0.841, £.572•Monthly Electricity Consumption: 125,000 kWh

City Vancouver Lyon Frankfu

rt Amsterda

m Manchester

Labor 7,863 8,162 11,295 9,161 9,588

Facility Lease 460 373 440 435 590

Utilities 448 527 428 580 391

Operating costs 8,771 9,062 12,163 10,176 10,569

Low Operating Costs

WHAT BC CAN OFFER

Source: 2006 KPMG Competitive Alternatives.

Page 40: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #40

To reduce corporate income taxes.

Taxes on Registered International Financial Income of $750,000

Pr/State Federal Total Tax

British Columbia (IFC BC) 0 165,900 165,900

Quebec 74,250 165,900 240,150

Ontario 105,000 165,900 270,900

Oregon 49,500 238,170 287,670

New York 56,250 235,875 292,125

California 66,300 232,460 298,760

New Jersey 67,500 232,050 299,550

…And A Final Reason to Locate In British Columbia

WHAT BC CAN OFFER

Page 41: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #41

Overview And History

Eligible Activities

What British Columbia Offers

Starting An International Financial Business

Page 42: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #42

If you transact international business…

If your company conducts one or more eligible activities…

If the idea of opening an office in British Columbia appeals to you…

And if you’re interested in saving money on taxes…

…Registering under the IFA Act may be the right decision for your company.

STARTING AN IFB

How Does the IFC BC Apply To My Company?

Page 43: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #43

Internal AnalysisWhat activities qualify?

Is an IFB cost effective for my company?

Internal AnalysisWhat activities qualify?

Is an IFB cost effective for my company?

External AnalysisRequest that the BC Ministry of Small Business and Revenue

issue an advance Ruling or technical interpretation.

External AnalysisRequest that the BC Ministry of Small Business and Revenue

issue an advance Ruling or technical interpretation.

Register with the Income Tax Branch, BC Ministry of Small Business and Revenue

Register with the Income Tax Branch, BC Ministry of Small Business and Revenue

Become a member of the IFC BC

Become a member of the IFC BC

Begin doing business in British Columbia

Begin doing business in British Columbia

STARTING AN IFB

How Does A Company Establish an International Financial Business?

Page 44: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #44

Incorporation in Canada.The corporation is not exempt from income tax under the Income Tax Act.The corporation must establish and carry out the prescribed financial business within 90 days of registration.Become a member of the International Financial Centre BC.

STARTING AN IFB

What Are the Requirements for Registration?

Page 45: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #45

STARTING AN IFB

How Much Does It Cost?

One-time registration fee of $5,000, payable to the Province of British Columbia.

An annual Membership Fee of $1,000, payable to the IFC BC.

Annual Participation Fee of 0.70% on the pre-tax income of the registered international financial business payable to the IFC BC.

Page 46: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #46

Angiotech Pharmaceuticals, Inc.

Bank of Montreal

BASF Finance Canada Inc.

Canaccord Capital Corporation

CIBC

CIBC World Markets Inc

Coast Capital Ltd.

Connor, Clark & Lunn Financial Group

Cundill Investment Research Ltd.

Custom House Global Foreign Exchange

Data Base File Tech Group

Ecowaste Industries Ltd.

Ethical Funds Company

First Resolution Management Corporation

Global Securities Corporation

Global Futures Corporation

Haywood Securities (US) Inc.

Haywood Securities Inc.

HSBC Bank (Canada)

HSBC Capital (Canada) Inc.

HSBC Investments (Canada) Ltd.

HSBC Investment Funds (Canada)

Insight Film Studios Ltd.

International Tracing Search Inc.

J.P. Morgan Fleming

Kodak Graphic Communications Group

Mondiale Asset Management Ltd.

Neuromed Technologies, Inc.

Northstar Trade Finance Inc.

North Growth Management Ltd.

Oakridge Accounting Services

Pacific International Securities (U.S.) Inc.

Pacific International Securities Inc.

Pacific Network Services

Phillips, Hager & North Investment Management Ltd.

QLT Inc.

Raymond James Ltd.

RBC Capital Markets

Royal Bank of Canada

Salman Partners (USA) Inc.

Salman Partners Inc.

Scotiabank

Scotia Capital

TD Bank Financial Group

Teck Cominco

Tolko Finance Ltd.

UBS Bank (Canada)

Vancouver City Savings Credit Union

Vantage Online Foreign Exchange

West Fraser International Ltd.

Wolverton Securities Ltd.

STARTING AN IFB

Core Members

Page 47: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #47

Odlum Brown

Pacific Corridor Enterprise Council

Pacific Northwest Economic Region

PricewaterhouseCoopers LLP

SME Bancorp.

Smythe Ratcliffe LLP

State Bank of India

Thorsteinssons, Tax Lawyers

Union Securities Ltd.

Van Arbor Asset Management Ltd.

Vancouver Board of Trade

Vancouver Economic Development Commission

Vanderluit & Associates, Inc.

Aon Insurance Managers

Bank Vontobel AG

Baring Asset Management

BC Film Commission

BC Investment Management

Bellin Treasury Services

Borden Ladner Gervais LLP

Canada Pacific Russia Trade Centre

Canadian Manufacturers & Exporters

Chamber of Shipping of BC

Computershare

Credit Union Central of BC

Deloitte & Touche LLP

Ernst & Young

Farris, Vaughn, Wills & Murphy

Fasken Martineau DuMoulin LLP

Gowling Lafleur Henderson LLP

Grant Thornton LLP

ICICI Bank Canada

Investment Dealers Association of Canada

Jardine Lloyd Thompson Canada

KCS Fund Strategies

KPMG

Marsh Canada Ltd.

McCarthy Tetrault

Mitsubishi Canada Ltd.

STARTING AN IFB

Associate Members

Page 48: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #48

Talk to your accountant.

Cost/benefit analysis.

Investigate intra-company issues, such as pricing, allocation, and control.

Talk to your lawyer.

Structuring the subsidiary or office.

Assistance with the registration process.

STARTING AN IFB

What Are the Next Steps?

Page 49: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #49

Confirm your eligibility by obtaining a ruling.

Ensure all aspects required for registration have been considered.

Discuss the mechanics of the refund process.

Talk to the Taxation Branch of the British Columbia Ministry of Provincial Revenue.

STARTING AN IFB

What Are the Next Steps?

Page 50: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #50

Talk to us. The International Financial Centre British Columbia is a resource to assist you through the registration process.

STARTING AN IFB

What Are the Next Steps?

Page 51: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #51

Promotion of British Columbia as a location for international investment.

Advocacy by introducing public policy initiatives and working with policy makers to strengthen the range of international business in BC.

Representing and supporting members through consultation and direction on maximizing specialist and corporate tax benefits.

STARTING AN IFB

Strategic Initiatives of the IFC BC

Page 52: Doing International Business In British Columbia: The Competitive Advantage October 2006

October 2006 Slide #52

Thank you for Joining Us Today

Suite 1170 – Park Place, 666 Burrard StreetVancouver, BC Canada V6C 2X8

www.ifcbc.com


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