Registration of a company in Canada

Before starting the legal procedure, you need to choose your preferred form of ownership. The following types of enterprises operate in the country:

limited liability partnership;

limited partnership;

Extra-provincial Corporation.

Attention! Entrepreneurs can open a business not only in Ontario. A company can be registered in any province. The owner is exempt from taxes if he does not conduct business in Canada.

Organization of a limited partnership

This company is called Limited Partnership. This form of ownership appeared at the legislative level back in 1990. In this case, no special registration of a legal entity is required.

The owner only needs to go through a sequential procedure, including the following steps:

One general and limited partner is sufficient. This may be one individual combining functional responsibilities if they have sufficient qualifications.

Contribution of authorized capital. Defined in monetary terms or property.

Opening a bank account. It becomes especially relevant if you plan to provide services or sell products in Canadian jurisdiction.

Registration of a corporate address. This is an important requirement for the exchange of correspondence with partners and government agencies.

Equal distribution of responsibility. Carried out between the partners specified in the constituent documents.

There are no requirements for the transfer of tax and accounting reports. This applies to those companies that do not engage in commercial activities in Canada, but use it as an offshore territory. If the money comes from abroad, only an annual tax is provided.

This form of ownership is one of the most popular due to the minimum requirements.

Creation of a company in the form of Extra-provincial Corporation

This is one of the most popular materials for foreign entrepreneurs. This option is suitable for expanding your current business. Registration also does not require the creation of a legal entity. The office and bank account must be located within Canadian jurisdiction. There are no exceptions.

Organization of a limited liability partnership

A similar company was also called Limited Liability Partnership. When organizing a business, the following points are taken into account:

having your own office or renting real estate for exchanging correspondence, as well as conducting business;

financial responsibility is assumed on the part of each partner;

registration is allowed without creating a legal entity, which optimizes tax losses and significantly simplifies the procedure;

maintaining tax and accounting records becomes a mandatory requirement.

Choose to open a company in Canada with the help of our employees. Place an order on the website by selecting a list of additional services for registration in foreign registration. To clarify the details and requirements for preparing documents, call our employee.