Canada

Canada is a federal parliamentary democracy and a constitutional monarchy, with Queen Elizabeth II as the head of state; consists of 10 provinces and 3 territories, population – 35 427 524.

Legal system – Common Law prevails everywhere except in Quebec, where Civil Law predominates.

 

Limited Liability Partnership (LP), incorporated under the Limited Partnerships Act, can conduct business in any part of the world.

Tax Rate 
Income (Corporate) LP taxnoEach partner pays the tax separately, it depends on state where partner is a taxpayer
Provincial tax-
Dividends received-
Interest paid-
Interest received-
Royalties paid-
Incomes from royalties-
GST/HGT tax20 %
Double tax treaties - as LP companies are not Canadian taxpayers, these treaties cannot be applied

Advantages

  • High international prestige of Canada
  • No corporate (income) tax
  • Not required to file corporate tax returns
  • No restrictions on the residency of partners
  • LP can be used for international trading, software developers, web programmers, IT service providers, online based businesses (website development, marketing services, auctions, web stores)

Disadvantages

  • As LP companies are not Canada taxpayers, double tax treaties are not applicable
  • The general corporate partner is required to register as an extra provincial corporation

Name Must include "Limited Partnership" or "LP". Can be in English or French
Share capital No requirements as to the minimum amount of contribution
General partner A minimum of one, corporate partner is allowed
A non-Canadian corporate partner must be registered in Ontario as an extra provincial corporation (EPC)* in order to become the general partner LP is managed by general partner
The general partner bears unlimited liability for the debts and obligations of an LP
Partner LP A minimum of one, individual or corporate entity, any nationality, extra provincial registration is not required for a corporate partner.
A person may be a general partner and a limited partner at the same time in the same limited partnership
Limited partner has limited liability
Registered Address Required
Annual reporting Not required

* Any non-resident corporations and LLCs, including offshore companies, can be registered as extraprovincial corporations (EPC). Canadian extra provincial registration does not create a separate Canadian legal entity. Therefore, a non – Canadian company registered as an EPC in Ontario has no tax obligations in Canada, provided that the company conducts business outside Canada.

EPCs conducting business outside Canada are not required to file tax returns.

The corporate income tax rate, which includes federal and provincial components, is 26.5 %.

An Ontario EPC is required to pay the Canadian income tax on all income received in Canada.

If the company conducts its business outside Canada, it has no Canadian tax obligations as a non – Canadian legal entity.

Company formation packages & prices
Basic
Plus
Partnership formation, preparation of documents
Incorporation fee
Registered address for one year
A set of notarized and legalized in Latvian Embassy registration documents
Company seal
Corporate general partner's (EPC) services for one year -
Corporate limited partner's services for one year -
Issue of a General Power of Attorney (GPA) -
Apostilization of a General Power of Attorney -
The basic currency for invoice issuance – USD

Ready made companies
Name Reg. Date Price
BARRINGER PROJECT LP 15.04.2015 ** Order now

0 – Email us for the price

Timeframe
Incorporation of a new company 7 business days
Legalization of documents, depends on the Embassy who legalizes documents from 20 business days
A ready-made company, preparation of the transfer documents 4 business days

Annual support (beginning with the second year)
Basic
Plus
Government fee
Registered address for one year
Corporate general partner's (EPC) services for one year -
Corporate limited partner's services for one year -
Issue of a General Power of Attorney (GPA) -
Apostilization of a General Power of Attorney -
The basic currency for invoice issuance – USD

Annual financial statementNot required


Information that has to be provided by the customer

Incorporation process is possible as soon as the Due Diligence procedure is completed. Please fill in and send us the Order form; immediately afterwards, we are going to send you the information on the document required within the boundaries of the Due Diligence procedure.

1. Consult to determine the order. To choose a jurisdiction for a company we offer a consulting services:

  • via telephone +(371) 67280645
  • via e-mail: consult@bbp-net.com
  • via online question form found in the header Ask an expert
  • Navigation through our web site will help you to determine: benefits, prices and requirements in respective jurisdiction

2. Complete an application form. After you have made your decision, please complete one of the online application forms:

3. Issue of invoice and settlement of order. Within one business day of filling in the online application form, you will receive an invoice via e-mail. You can pay the invoice using money transfer to the BBP bank account provided in the invoice or via Internet, using PayPal. We suggest using PayPal only in case the amount is less than 200 EUR.

ATTENTION! The invoice number should be written in the details of payment!

A payment acknowledgement will be sent to you as soon as we will receive the payment.

4. After we receive the required Due Diligence documents from you, we shall commence the incorporation or the preparation of the documents required in order to carry out the acquirement of a ready-made company.

5. Document delivery to the client. Documents are sent via international courier mail.

6. Further supporting services. We guarantee to inform, assist and provide you with all the necessary services for further support of the company.

Registering a company in offshore zones is a popular way to conduct tax planning and optimize business processes. Company registration in Canada does not fall under the traditional understanding of the offshore because in some circumstances the firms registered in this country are subject to taxation. Canada has the status of the so-called “quasi” offshore because formally the country is not included in the list of traditional tax-exempt jurisdictions. Thus, company registration in Canada will not affect your image negatively, but it will open an endless field of prospects.

For a long time the country was dependent on Great Britain. In 1931, Canada became an independent state and took the lead in the world economy. The latest ratings of financial analysts put Canada on the fifth place among the countries where it is more comfortable to do business. Canada’s legislation carefully protects the personal data of entrepreneurs, their investments and assets. The state is also known for an extremely low level of bureaucracy that is a significant advantage if you plan to do business directly on its territory.

Despite the fact that tax rates for profits in Canada are among the highest in the world, some of legal structures can under certain conditions not pay taxes in Canada, but depending from structure- in place where partners registered.

Many large business players use Canadian companies as a “facade” for tax optimization.

It does not take much time to set up a company in Canada. Specialist help will simplify the process and bring the goal closer. Our company is pleased to provide services to offshore company formation in Canada at affordable prices. Besides the registration, we offer additional services that will make the business service abroad even easier and more understandable.