Registering a company in Canada in 2020

Registering a company in Canada in 2020

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 assistance of competent YB Case specialists.

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 assistance of YB Case 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 professional advice on starting a business in foreign countries from our company.

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