Company Formation LP in Canada

Top 5 Advantages of company registration in Canada

1. 0% Tax on profit realized outside of Canada
2. Highly regarded jurisdiction in terms of reputation and stability
3. Possibility to stay anonymous on the register
4. No accounting nor reports nor tax returns
5. Easy to manage remotely

Roadmap

How long does it take to register a Company in Canada LP?

• 5-10 working days
• Can be done remotely in the span of two weeks

What are the steps to register a company in Canada LP?

The registration process of a company in Company Formation in Canada is very simple. The experts of LegalBison will assist you throughout every step of it:

1. Initial consultation and agreement
2. Payment of the full invoice
3. [IF REMOTELY]: Notarization of POA by client
4. Preparation of registration documents
5. Document signed at the notary
6. Official register validity: immediately

Taxes

How high are the corporate income tax in Canada?

The limited partnership is seen as a «flow-through» structure, which means it is not liable to any corporate taxes.

• The partners are liable to pay an income tax to the Canadian Tax Administration if they are resident of Canada and/or if the profits have been generated on the soil of Canada
• Therefore, profits generated out of Ireland attributed to partners also out of Canada will not be taxed

What Double-tax treaties has Canada LP?

Many countries have bilateral conventions to avoid double taxation and prevent fiscal evasion

Algeria, Argentina, Armenia, Australia, Austria, Azerbaijan, Bangladesh, Barbados, Belgium, Brazil, Bulgaria, Cameroon, Chile, China (PRC)1, Colombia, Croatia, Cyprus, Czech Republic, Denmark, Dominican Republic, Ecuador, Egypt, Estonia, Finland, France, Gabon, Germany, Greece, Guyana, Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Ivory Coast, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Korea, Rep of, Kuwait, Kyrgyzstan, Latvia, Lithuania, Luxembourg, Madagascar, Malaysia, Malta, Mexico, Moldova, Mongolia, Morocco, Netherlands, New Zealand, Nigeria, Norway, Oman, Pakistan, Papua New Guinea, Peru, Philippines, Poland, Portugal, Romania, Russia, Senegal, Serbia, Singapore, Slovak Republic, Slovenia, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Taiwan2, Tanzania, Thailand, Trinidad & Tobago, Tunisia, Turkey, Ukraine, United Arab Emirates, United Kingdom, United States, Uzbekistan, Venezuela, Vietnam, Zambia, Zimbabwe

Status: Q1 2021

Tax Information Exchange Agreement: Anguilla, The Bahamas, Bermuda, Cayman Islands, Dominica, Isle of Man, Netherlands Antilles, San Marino, St. Kitts and Nevis, St. Vincent and theGrenadines, Turks and Caicos Island

Decide first

1. What is your objective by setting up a limited partnership?
2. Do you want to buy a ready-made partnership or start a new one?
3. Do you want your name to be hidden in the registry?

Documents to provide for company registration in Canada

• Passport copies (a scan) of all individuals above, also beneficiary owner if applicable
• A Power of Attorney (in case of a remote company registration)
• Certified company documents (in case at least one of the shareholders is going to be a foreign company)

Information needed to get company registration in Canada

• 3 options of your desired name for the company and a company contact email address
• Names, addresses and emails of all shareholders and board members
• Short description of your companies’ activity

Remote incorporation

• The whole incorporation process can be conducted remotely. No travel necessary. Notarization of documents is necessary
• A Power of Attorney (POA) from (all) partners is needed
• The POA is sent to you by us based on the services you want
• You have to certify the POA by a notary and in some cases legalize it by apostille (some countries need full legalization)
• Once you have the POA on your hands, we double-check, and you send us the original form (physical document!) via courier to our address
• Canada is not part of the Hague Convention of the Apostille

Accounting and auditing

Since they are not considered as a separate legal entity, the Limited Partnerships are not liable to file any kind of return to the administrations.

Residential requirements

What are the residential requirements in Canada LP?

• There are no residential requirements for a limited partnership
• 100% foreign ownership is allowed
• A limited partnership is not required to have a physical office in Canada but has to have a registered address, and PO boxes are not allowed
• The use of nominee partners is allowed

LegalBison offers help with all of the above requirements. We assist and are local on ground. Speak now for free with one of our consultants to get your business started.

FAQs about company registration in Canada