Canada

CANADA COMPANY FORMATION

Canada is a country with a comparatively strict system of taxation. Ordinary Canadian companies are liable to tax on all their worldwide income. Accordingly, they have no features attributable to tax-exempt or offshore structures. As such, Canada has an image in the eyes of entrepreneurs and government bodies as a country with a standard system of taxation. Due to this, any structure established on Canadian territory is considered a highly prestigious vehicle. However, Canadian legislation does offer the opportunity of registering and using Canadian enterprises with a zero rate of tax. These are known as L.P. companies.The L.P. is a limited partnership which has no less than two partners. One of the partners is a General Partner, whilst the other partners have the status of Limited Partners. In province of Alberta, registration and operation of Limited Partnerships is governed by Chapter 2 of Alberta Partnerships Act. A Canadian L.P. with foreign members, which does not carry on a business in Canada and derives no income on Canadian territory, is not liable to tax in Canada. According to the Canadian tax laws, the L.P. is not considered as the separate subject of taxation. It is the founders ("Partners") who should pay taxes from the profits received by the L.P. company in the place of their residence, in proportions according to the shares of interests belonging to them in the L.P. company, if it is stipulated by the legislation of that particular country.

General Information about Canada
  • Location: Northern part of North America
  • Total area – 9,984,670 km2
  • Population – 35,151,728
  • Official language – English and French
  • Official currency – Canadian dollar
  • Time zone – UTC 3.5 to -8, Summer (DST)- UTC 2.5 to -7)
What we offer
  • Register your Company in Canada in 2-3 weeks.
  • We provide you with the most competitive price.
  • We maintain complete confidentiality.
  • A dedicated relationship manager will assist you throughout the process.
  • We can help you register a company with a bank account; without any need to travel the whole process can be taken care of remotely, you can access your account using Internet banking and Debit card.
Incorporation Package Price

Our price for setting up a company is $ 4099

Renewal Fees after one year $ 2399

Incorporation Package includes
  • Professional services for preparation and submission of documents to registrar.
  • Payment of state duty for registration of a company.
  • Acquisition of a registered office.
  • Apostil set of organization documents.
  • All Corporate Documents.
Basic Requirements for Company Formation
  • 1 Director.
  • 1 Shareholder.
  • Authorized Share Capital: CAD 1000, there is no statutory requirement for capital to be paid partially or fully at the time of company incorporation.
  • Physical Office is required.
  • Payment of various Compliance fees.
  • No statutory requirement for company secretary
Company characteristics

Type of company: Limited Partnership (LP)

Company Names: The name of a Canada L.P. company must end with the words "Limited Partnership". Company names containing restricted words such as "Bank","Insurance","Trust"; etc. will not be permitted unless an appropriate national operating license has been obtained by the company.

Filing of Annual Return: There is no requirement to file an annual return.

Filing of Financial Statements: Every Canadian LP must keep appropriate accounting records and prepare a financial statement annually.

Corporate Taxation: Canada L.P. companies with non-resident partners, which have no business activities in Canada; do not derive any income from Canada sources, and are managed and controlled outside of Canada, are exempt from Canada Federal and Provincial corporation taxes.

Tax Treaties: Canada L.P. companies are not regarded as resident for tax purposes in Canada, and therefore are not entitled to take advantage of Double Tax treaties concluded by Canada with other countries.

Additional Services

Nominee Shareholder: $ 400

Extract from the company registrar: $ 200

Documents Required
  • Proof of identity (Current valid Passport, National ID card).
  • Proof of Residential Address of the chosen Shareholders and Directors.
  • Resolution to open a bank account, rent an office, appoint first director/shareholder, engage a Phone, Internet & Website service provider, hire a staff member/s.
  • Resolution issuing a Power of Attorney authorizing to sign documents on behalf of the company.
  • Register of directors/shareholders.
  • M & AA, Certificate of Incorporation, Latest Annual returns and financial statements in case of a Corporate Shareholder.
Important information about Canada

Incorporation of a company in Canada is a respectable and prestigious choice. The jurisdiction is not on the “black lists” of any countries, and it has no restrictions on co-operation with residents of any states. As a non-resident of the EU, a Canadian L.P company is an appropriate instrument for purchase of goods in the EU countries and their further export to countries outside of the EU. I In the event that a Canadian company is used, export from the EU becomes obvious,whereas in the case of a company registered in any EU country being used for this purpose, the seller of the goods may not be sure whether the relevant operation is treated as export from the EU or not.

For any queries/ additional services please send us an email or reach us on Skype at info@offshore-banking.net.

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