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Opening an offshore in Canada in 2020

Features of opening a company in Canada in 2020

2019-01-09
169

Canada is one of the top five countries with the most favorable conditions for business development. The country is interested in attracting foreign entrepreneurs. Due to the fact that the country has developed infrastructure and a stable economy, the question of how to start a company in Canada is popular.

Advantages of company development in Canada

Given a well-developed economy and a high standard of living in the country, many entrepreneurs are eager to move to Canada. If you buy a company in Canada, you can open up new prospects.

The main advantages of the development of the company in the country are:

  • The presence of various government programs to attract investment from other countries.
  • Stability of the economy.
  • Developed infrastructure.
  • Possibility of getting quality a education.
  • Availability of personnel in the labor market.

Due to its large area and accessible natural resources, the country is a great place for business development. Registration is relevant if you want to start the development of Canada's offshore from scratch. To register a company in Canada, you need to take into account some conditions and requirements for a variety of documents.

Main forms of companies for registration

Canadian law provides for the possibility of opening different types of companies. It is popular to establish an organization in offshore zones. This not only allows avoiding taxes, but also requires doing business only with counterparties - non-residents who live outside of Canada.

One of the possible business forms is a limited partnership (LP) that can be established according to an act. There is a possibility of opening an account in financial structures where  services can be provided and products can be marketed. To establish such a business, one general partner is required, as well as a limited partner. The address must be registered.

Another form is LLP which does not require. It is not necessary to create a legal entity when registering. This allows optimizing tax contributions and thus making the procedure easier. It is necessary to have leased property and an office as well as to keep accounting and submit taxes.

The most popular form is EPC. It can be used to expand the activities of existing organizations in other countries. You can cooperate not only with partners and buyers from other countries, but also with businessmen from Canada.

Offshore and taxation

Working in the non-contributory regime is not possible for all forms. The amount of taxes depends on whether the company is based in the country. There are two types of corporate tax: federal and provincial.

The country has signed an agreement to avoid double taxation with many countries. There will be an exchange of data on offshore zones with 24 republics.

Registration process

An application for the establishment of a company is required in advance. It is necessary to determine whether the company corresponds to the selected country. The business must meet certain requirements. A number of documents should be collected, along with the English translation. If you have any questions, please contact our experts at IT-OFFSHORE for detailed information.

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