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

The most popular form of company in Canada is a partnership (LP). LP companies must have a local secretary.

Company Name

The name of the company must end with a word, phrase or abbreviation that indicates the form of the company.

Authorized Capital

The amount of the minimum share capital depends on the type of company.

Director

LP company does not have a director, 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

To incorporate a company in Canada, you first need to make a request to the Registry of Companies to verify the name. Once the name is confirmed, corporate documents are prepared.

02

Preparation and collection of documents

Each member of the company must provide all KYC documents (passport, utility bill, bank reference, CV).

03

Identification of company participants

At this stage, online verification of each partner is carried out.

04

Formation of the share capital (if necessary)

There is no requirement to form an authorized capital in Canada. If there is such a need, the authorized capital is formed 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

As soon as a company in Canada is registered, the registry issues corporate documents with a stamps.

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:


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