Registering a company and opening an account in Canada in 2020

Registering a company and opening an account in Canada in 2020

Canada is a technologically advanced state with a diversified economy, based on rich natural resources. It is a member of the Organization for Economic Co-operation and Development, a member of the G7.

Due to strict taxation rules for commercial organizations, registered on this territory, a country has earned a status of a state with a classical tax system.

However, Canadian law allows you to register a company in Canada with zero tax rates. Such companies are Limited Partnerships (LP). Registering an LP in Canada takes place with the participation of two parties, one of the participants being the main one, and the rest with a limited liability. LP members can be individuals and enterprises, communities, including foreign ones.

In accordance with a local law, Canadian enterprises, registered as LP, are not subject to a taxation, taxes are levied only on participants of the enterprise in proportion to their share in LP. Non-resident LP members are exempt from taxes, if they conduct a business outside Canada. Such participants are required to pay taxes in the jurisdiction at the place of registration. Thus, it is possible to export/import goods/services with all countries of the European Union with a maximum profit.

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Registering an LP in Canada does not provide for the publication of information about the beneficiary, which ensures a high level of a confidentiality. Among other things, if you are seriously concerned about the safety of your capital and funds, it is a good idea to open an account with a Canadian bank. High safety of funds is determined:

  • Canada is a country with one of the lowest crime rates in the world (2nd place after the Vatican);
  • Its banking system is one of the most developed in the world, with the overwhelming majority of international banking and financial institutions, cooperating with Canadian banks.

Our company offers you support services in opening an account with BMO Bank - one of the largest banks in Canada.

Contact specialists of our company, and we will provide you with qualified advice on establishing and maintaining a company in Canada, opening personal and corporate accounts in European countries. If necessary, specialists of our company will be able to open LP in Alberta remotely in the shortest possible time in compliance with all requirements of Canadian law.

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