Company registration in Canada

Registration fee is from 2200 €

Registration period — 3 weeks

Minimum authorized capital - not established

Remote opening — yes

Financial statements — no

Canada is a North American country stretching from the US border in the south to the Arctic Circle in the north.

Maira Consult recommends using companies incorporated in Canada to obtain a financial licence in Canada (MSB).

Canada is reputable and recognised as a reliable jurisdiction. If you register a company in Canada, you will have access to the promising opportunities and benefits that Canada offers to foreign entrepreneurs. Canada is one of the world's leading countries with a stable financial system and a high level of well-being of its citizens. Canadian companies have a solid reputation, which makes them effective partners in international business. 

It is important to note that Canada is not a member of the Hague Convention of 5 October 1961, which simplifies the legalisation of foreign public documents. Consequently, there is no apostille procedure in Canada, and documents intended for foreign use must go through consular legalisation.

Our specialists know how to register a company in Canada and will provide you with highly qualified service and advise you on all issues. 

Canada advantages

1

Absence of taxes

2

Prestigious jurisdiction

3

Closed register of owners

4

Canada is not an offshore

5

Access to USA market

General Information

Registration Features

One of the most common forms of companies in Canada is a partnership (LP). A local secretary is required for such companies.

Company Name

The name of the company must include a word or abbreviation indicating its organizational and legal form.

Authorized Capital

The minimum amount of authorized capital in Canada varies depending on the chosen form of company.

Director

In LP structures, the role of a director is absent, the company is managed by a general partner.

Shareholders

Minimum 2 partners, individuals or legal entities, no residency requirements. One of the partners must be appointed as the general partner, who bears unlimited liability for the LP's obligations and manages the partnership. The limited partner is liable only to the extent of the contribution to the partnership and does not participate in the management of the company. The relationship between the partners is governed by a partnership agreement, which is drafted depending on the needs and wishes of the partners.

Financial Reporting

In the case if the Canadian company does not conduct business in Canada and the LP partners are located outside of Canada, LP companies are not required to submit annual financial report. If the business is in Canada, the Canadian LP partnership is required to submit financial statements on country and federal level.

Taxation

A Canadian partnership is not a subject of taxation if the LP does not operate in Canada, its partners are not tax residents of Canada, LP does not have a permanent establishment in Canada, does not receive income from Canada, LP does not have an account in a local Canadian bank.

Confidentiality

The public availability of information about the company's beneficiary depends on the country in which the LP company is registered. Some provinces, such as Alberta, have a closed company registry, which allows for the confidentiality of the owner.

Stages of company registration

01

Choosing the name and form of the company

Before registering a company in Canada, you need to make a request to the registry to check the availability of the chosen name. Once it is confirmed, the preparation of corporate documents begins.

02

Preparation and collection of documents

Each member of the company is required to provide a full set of KYC documents, which includes: a passport, a document confirming the address of residence (utility bill), a bank reference, and a CV.

03

Identification of company participants

At this stage, all partners are checked through an online verification system.

04

Formation of the share capital (if necessary)

There are no mandatory requirements for the formation of authorized capital. If necessary, it can be created after the company is registered in Canada.

05

Company registration

Forms for company registration in Canada are submitted to the registry.

06

Receiving of corporate documents

After registering a company in Canada, the registry provides corporate documents with the appropriate seals.

07

Legalization of documents (if necessary)

Since Canada is not a member of the Hague Convention, Canadian company documents can be legalized at the consulate.

08

Delivery of corporate documents

Original corporate documents of Canadian company are sent by courier service.

Answers to the Most Common Questions:

To register a company in Canada, it is necessary to choose a unique name, determine the legal form (e.g. Limited Partnership - LP), prepare incorporation documents and submit them to the relevant registry. The process can be done remotely with the help of professional consultants, which simplifies the procedure for non-residents.
Registering a company in Canada usually takes about three weeks from the date of filing all the required documents.
The cost of incorporating a company in Canada starts from 2200 euros, including preparation of documents, government fees and support of the registration process.
Canadian companies that do not do business in Canada and do not have Canadian residents as partners are exempt from paying taxes. If a company does business in Canada, it must pay taxes according to federal and provincial rates.
Foreign citizens have the right to open and own a business in Canada. To do so, they must comply with local laws and requirements, including registering a company and obtaining the necessary permits.
Corporations doing business in Canada are subject to income tax at a federal rate of 15% and an additional provincial tax that varies from province to province. The overall corporate income tax rate is approximately 26.5%.
Any person or entity, regardless of citizenship or residency, can incorporate a corporation in Canada, subject to local laws and requirements.
Yes, foreign nationals can own a business in Canada without the need for citizenship. It is important to comply with all local laws and regulations related to running a business.
The cost of creating a limited liability company (LLC) in Canada starts at 2200 euros, including preparation of documents, government fees and support of the registration process.
Tax rates in Canada vary from province to province. The province of Alberta is known for having one of the lowest provincial income tax rates, which makes it attractive for business incorporation.
Businesses in Canada are taxed at a federal income tax rate of 15% and an additional provincial tax that varies by province. Companies that do not operate in Canada and do not have Canadian residents as partners are exempt.

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