Foreign ownership of companies of Canada pertains to the majority-ownership of Canadian-based assets (including businesses and subsidiaries) by non-Canadian individuals or companies, as well as to companies that are effectively owned or controlled, directly or indirectly, by non-Canadians. "Non-Canadian," for all intents and purposes, refers to entities based outside Canada and to those who are not Canadian citizens or qualified permanent residents.
Foreign ownership (or 'foreign affiliates') of Canadian companies has long been a controversial political issue in Canada. Concerns regarding the issue generally regard ownership of previously 'Canadian' assets by foreign entities, though the exact definition of 'foreign-owned' is subject of debate.
Foreign majority-owned affiliates contribute significantly to the economy of Canada. In 2016, foreign affiliates accounted for 14% of Canada's gross domestic product and employed 12% of workers.
Overview Historically, foreign ownership was a political issue in Canada in the late 1960s and early 1970s, when it was believed by some that U.S. investment had reached new heights (though its levels had actually remained stable for decades), and then in the 1980s, during debates over the Free Trade Agreement.
However, the situation has changed; since in the interim period, Canada itself became a major investor and owner of foreign corporations. Since the 1980s, Canada's levels of investment and ownership in foreign companies have been larger than foreign investment and ownership in Canada. In some smaller countries, such as Montenegro, Canadian investment is sizable enough to make up a major portion of the economy. In Northern Ireland, for example, Canada is the largest foreign investor. By becoming foreign owners themselves, Canadians have become far less politically concerned about investment within Canada.
Something to note is that Canada's largest companies by value, and largest employers, tend to be foreign-owned in a way that is more typical of a developing nation than a G8 member. The best example is the automotive sector, one of Canada's most important industries. It is dominated by American, German, and Japanese automotive giants. Although this situation is not unique to Canada in the global context, it is unique among G8 nations, and many other relatively small nations also have national automotive companies.
In 2004, foreign-controlled corporations accounted for 21.9% of assets held in Canada, and 30.0% of operating revenues yet comprised less than 1% (approx. 8,000) of the total 1.3 million corporations in Canada. Assets of foreign-controlled corporations rose 8.3% to $1.1 trillion in 2004, while those of Canadian-controlled corporations rose 8.9% to $3.9 trillion. All in all, foreign-controlled profits soared to a record $68 billion that year, up 21.7% from 2003. Also that year, foreign-controlled corporations operating revenues in Canada averaged $96 million, compared with less than $2 million for their Canadian-controlled counterparts.
In 2006, 34 Canadian companies were purchased by foreign interests worth $62 billion, nearly 4% of Canada's market value.
Statistics In 2016, foreign affiliates accounted for 14% of Canada's gross domestic product and employed 12% of workers. That year, foreign affiliates in the manufacturing sector accounted for 41% of the value added of foreign multinationals operating in Canada, an increase from 38% in 2010. +Value added by foreign majority-owned organizations, by sectorSectorValue added (CA$billion)201020142016Mining, quarrying, and oil and gas extraction36.938.421.1Manufacturing - total85.5105.3108.6Transportation equipment manufacturing12.818.521.6Chemical manufacturing9.213.315.4Petroleum and coal product manufacturing10.214.77.7Other manufacturing53.358.863.8Services - total94.3117.8125.1Wholesale trade25.134.436.8Professional, scientific, and technical services12.519.918.9Retail trade14.216.018.4Finance and insurance14.214.414.9Others28.333.336.1All sectors - total224.8275.5267.1
Existing foreign-owned companies in Canada
CompanyForeign owner(s)Origin of foreign ownerNotes500pxVisual China GroupChinaAeryon LabsFLIR SystemsUnited StatesAlludoKKRUnited StatesA software and programming company originally called Corel, it was taken over by Vector Capital in August 2003, and acquired by KKR in 2019."KKR confirms it has acquired Canadian software company Corel, reportedly for over $1B". TechCrunch. Retrieved 2021 November 14. It was renamed Alludo in 2022. AltaLinkBerkshire Hathaway EnergyUnited Statesone of Canada's largest electricity transmission companies.AltaSteelKyoei SteelJapanKyoei Steel acquired AltaSteel in 2020. Arc'teryx Amer SportsFinlandPurchased by Amer Sports in 2005. Asia Pacific Marine Container Lines (Asia Pacific Group Canada)Leung Maritime GroupChina (Hong Kong)one of Canada's largest cargo transport companiesAviva CanadaAvivaUnited KingdomBlack PressCarpenter Media GroupUnited StatesCarpenter acquired Black Press in 2024.Boeing CanadaBoeingUnited StatesBP CanadaBPUnited KingdomCanada BreadGrupo BimboMexicoPurchased by Bimbo in 2014 for CAD$1.83 billion and operates as an independent business unit of the global baking company. Vachon Bakery is a Canada Bread subsidiary. Canada Goose Bain CapitalUnited StatesBain Capital became Canada Goose Holdings Inc's majority shareholder in 2013. Cargill CanadaCargillUnited States (Minnesota)CNOOC Petroleum North AmericaChina National Offshore Oil CorporationChinaNexen Inc. was one of two Canadian oil and gas companies that the Harper government controversially approved the sale of to foreign state-owned enterprises in 2012; though it stated that future takeovers by SOEs would face new rules, especially in the energy sector. Nexen became a wholly owned subsidiary of CNOOC on 25 February 2013.Colt CanadaColt CZ GroupCzech Republic Founded as Diemaco in 1975, it was acquired by Colt in 2005. Costco Wholesale CanadaCostcoUnited States (Washington)Costo's Canadian operations are the 7th-largest private company in Canada as of 2006.Davie ShipbuildingInocea GroupUnited Kingdom Davie has gone through many ownership changes over the years and has been owned by Inocea since 2012. Delta HotelsMarriott InternationalUnited States Delta was acquired by Marriott in 2015. Direct EnergyNRG EnergyUnited StatesDofascoArcelorMittalLuxembourgCanada's largest steel maker; acquired by Arcelor in January 2006.Dollar Tree CanadaDollar TreeUnited StatesDollar Tree acquired local chain Dollar Giant in 2010 and converted all stores to Dollar Tree. Entertainment One (eOne)HasbroUnited StatesFirst Choice HaircuttersRegis CorporationUnited StatesFirst Choice Haircutters was purchased by Regis Corporation in October 2000.FRHI Hotels & ResortsAccorFranceFairmont Raffles Hotels International (FRHI) was formed in 2006 when Fairmont Hotels and Resorts was acquired by Colony Capital, who subsequently entered into a joint partnership with the Kingdom Holding Company; consolidating Fairmont with their other hotel brands, Raffles and Swissôtel to form FRHI. FRHI in turn became a subsidiary of Accor in 2016. Ford Motor Company of CanadaFord Motor CompanyUnited StatesFour Seasons Hotels & ResortsCascade Investment and