Register LP in Canada in 2019
Canada is the state in North America that has the longest coastline in the world. It has borders with the USA, Denmark, and France. It is a federal state, consists of 10 provinces and three territories. English and French are recognized as official languages.
Pluses of LP opening in jurisdiction
It is believed that the future of the offshore business is the use of not only offshore, but also onshore elements. Most often, non-resident entrepreneurs who are planning to do business in Canada, and also use the company to work in Europe, open a limited partnership (LP).
The organization, registered in Canada, will be a flexible form for business development. This OPF is the most popular and has many advantages - so, there is no need to file reports on the payment of certain taxes.
The main advantages of the organization:
• Prestige of jurisdiction;
• No restrictions on residency;
• There are no minimum capital requirements, you can independently set the size of the authorized capital;
• The level of trust and customer loyalty is increased due to the respectability of the country of registration;
• As partners may be individuals and legal entities;
• Ability to conduct international business;
• You do not need to pay income tax, as well as income tax partners, which are received outside of Canada.
Often, the OPF is used by entrepreneurs whose business is related to information technology. These can be companies that provide services that serve customers from the United States, Asian and European countries, and the CIS.
There are no restrictions on the partnership and on the conduct of activities. So, a limited partner has limited liability, the general partner is unlimited. To create an organization, one general partner is required; there are no requirements regarding the residency of a particular country.
You also need at least one partner with limited liability, there are no strict residency requirements. There is no minimum capital requirement.
To register the organization will need to submit some documents. The list of obligatory papers includes a copy of a foreign passport, data on the address of residence, a description of the type of activity. For professional advice, contact our IT-OFFSHORE specialists - we will answer all questions regarding LP registration.