Each province has its own rules and openness to US physicians (Quebec is impossible but pays peanuts). Generally you need a 5 year residency to practice psychiatry independently or else you need 1 year of supervision +/- licensing exams.
As I understand it each specialty negotiates its rates with the province. More or less like a powerful union (including protectionist hurdles against non-Canadians, no PA recognition, maybe no NPs?). You can choose capitated payment or fee for service. Malpractice is low to nonexistent. Something like 8 weeks vacation. Primary care is better paid compared to US ($300,000 is routine in FM), surgical specialties are lower paid or unemployed. The only downside is cash pay is not robust as US.