If you want to open an account with Toronto-Dominion Bank remotely, then this can be done only on Canadian LP. It is a Limited Partnership (LP) for non-residents, and it simplifies the process of doing business. The use of LP will make it possible to legally optimize taxes. Those, who wish to open an account on the Canadian LP, can familiarize themselves with the information below.
A brief information about the bank
Toronto-Dominion Bank is the second largest financial holding company in Canada. It was formed in 1955 in Ontario, by merging the Bank of Toronto and Dominion Bank. It also became one of the first banks in Canada with its own mutual investment funds. Today, Toronto-Dominion Bank owns more than 10 subsidiaries, such as TD Canada Trust, TD Commercial Banking, TD Asset Management, MBNA Canada, Symcor.
Among its largest shareholders, the top 5 include the following:
- RBC Asset Management, Inc. (9, 20%);
- BMO Asset Management, Inc. (4,23%);
- CIBC Markets World Markets, Inc. (4,12%);
- FMR Co., Inc. (3,02%);
- TD Asset Management, Inc. (2,76%).
According to the rating of the famous financial magazine «Global Finance», it is one of the ten leaders in the top 50 most reliable banks in the world. Based on this, if you want to open an account for a company in Canada, Toronto-Dominion Bank will be a good choice for you.
Key bank activities
For customers, who wish to open a corporate account with Canadian Toronto-Dominion Bank, a bank is ready to offer a wide range of financial services, in particular:
- lending at interest rates;
- opening and monitoring of operating and savings accounts;
- asset management;
- property insurance;
- exchange operations, using securities;
- currency exchange.
Tariffs for those, who wish to open an account with Toronto-Dominion remotely
If you are interested in opening an account for a company with Toronto-Dominion Bank, then the following rates will be available to you: Basic Business Account (settlement, available in CAD or USD) and Savings Business Account. Below, you can familiarize yourself with the tariff conditions:
- Opening an account with a Bank of Canada:
- An account opening is 0 EUR;
- Maintaining bank accounts is 3,3 EUR/month;
- A commission for each transaction is 1 EUR;
- Incoming payments are 11,5 EUR;
- Outgoing payments are from 20 EUR to 53 EUR.
To open an account for a company in Canada remotely or to register a Canadian company, we recommend you contacting YB Case experts.
Our specialists will provide you with detailed advice on the main advantages of the banking sector in this jurisdiction, as well as will help you to avoid frequent errors, when trying to open a non-resident account in a foreign bank on your own.