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Registering a company in Canada in 2020

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Registering a company in Canada in 2020

Key benefits of doing business in this jurisdiction:

  • A developed legislation;
  • A flexible conditions for company registration;
  • The minimum level of bureaucracy;
  • No currency control;
  • The access to the North American market;
  • No requirements for maintaining financial statements, filing tax returns, audit.

A cost of registering a business is from €1890

A company registration period is from 14 days

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Canada is considered the second largest country in the world. This state is washed by the Pacific, Atlantic and Arctic oceans. If you decide to register a company in Canada, this jurisdiction will be an attractive for many entrepreneurs. Therefore, registering a company in Canada is quick and profitable with the help of competent IQ Decision lawyers.

Before opening your business, you should think about a legal form, you want to conduct.

It is possible to set up a company in Canada in the following legal forms:
  • a Corporation;
  • a Limited Partnership (LP);
  • a General Partnership (GP);
  • an Individual Enterprise.

One of the most common forms of doing business in Canada is LP, so with the help of IQ Decision lawyers you can register a partnership in Canada. It is worth noting, that for LP companies there are a number of features and advantages:

  • There are no minimum share capital requirements.
  • There are no requirements for filing corporate tax returns.
  • No corporate income tax.
  • Partners are not financially responsible for the entire enterprise.
  • An agreement is signed between partners, which regulates in percentage terms the distribution of income and expenses, which is intended for each partner.
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You can establish a partnership in Canada in the following provinces:
  • British Columbia;
  • Alberta
  • Saskatchewan;
  • Manitoba;
  • Ontario;
  • Quebec;
  • New Brunswick;
  • Prince Edward Island;
  • Newfoundland.

In order to register an LLP in Canada, you need two or more partners. If you want to set up an enterprise in Canada, you can open an account with Bank of Montreal, if partners of the company are residents of the United States or Canada. To register a company in Canada, a tax and accounting are a mandatory requirement.

It is important to understand, that you can register a federal and a provincial company in Canada. The difference between such companies is only that a federal company can conduct its business throughout the territory, and provincial companies operate only in the territory, where the company registration is presented.

You can get legal advice on starting a business in foreign countries from qualified lawyers of IQ Decision.

  • The information outlined in the article is actual at the time of its publication.

  • Please refer to our specialists for checking possible solutions for your business.

  • Still have any questions?

    Fill out the form or contact us as you find convenient: skype, telegram, etc. Our experts will help you resolve the issue.

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