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Good offer Canada LITE
Canada - is a country located in North America, and is the world's second-largest country by total area. The state has a total land border with US, which is the longest in the world, and also has access to the Pacific, Atlantic and Arctic Ocean.
Canada has federal structure and consists of 10 provinces and 3 territories. The country`s population of 34 million people. Its capital is Ottawa. The official languages are English and French. Canada is constitutional monarchy, with Queen Elizabeth II being the head of the state. The official representative is Governor-General.
Rapid economic growth, strong legislative framework, guarantees the protection of property rights and investment, as well as the low level of bureaucracy led the popularity of the country for business dealing.
One should identify target of business dealing before the company registration in Canada. Canada is among the countries with the standard taxation system, regardless of where the income was gained. Moreover, the optimization of taxation, which qualifies as a criminal offense, punish extremely unpleasant consequences. However, such situation gives an important advantage – company registration in Canada automatically raise the business reputation of the enterprise and ease of the partner’s no-confidence to the classical offshore.
There are the following advantages of opening the company in Canada:
- There is no possibility to be in the "black" list of the offshore companies;
- The status of respectable company, registered in the prestigious jurisdiction;
- Stability of the economic and political system, as well as laissez-faire policy by the state in the business processes;
- Space for international activities with foreign partners.
And, nevertheless, there are opportunities to open a company in Canada with zero rate of taxation.
In Canada, one can open such company on the legislation level in Ontario, Quebec, Alberta and New Brunswick. Being a successor of existing foreign company, including offshore, the company maintains its structure, in particular, the number of shareholders and directors, so it is best to use for this purpose a company registered in jurisdiction with loyal requirements.
Management and control of the company`s activities must be carried out outside the country. Since information about directors and shareholders are public in Canada, it makes sense to use the nominee services for privacy.
It is necessary to provide annual financial statements to the tax authorities, even if the company does not receive income from activities across the country and not pay taxes here. Documents on accounting shall be kept in the Canadian office. There are a number of requirements for audit, but for company with authorized capital of 5 million of Canadian dollars, such procedure is not necessary.
Company name should not indicate to the connection with the British crown and government of Canada; names indicating to the relationship with banking or insurance institutions require agreement and obtaining licenses.
Limited Partnership, L.P.
To open a business in Canada (LP), one must have two shareholders: one with the status of General Partner and the second with the status of Limited Partner. The company is not considered as the subject of taxation, unless it operates and earns income across Canada.
The founders may be private or legal persons of any residence. Information about founders are in the register of companies of the corresponding province; one can use nominee service.
Company name must have the ending of Limited Partnership and not indicate to connection with the banking, insurance and trusts. There are no financial reporting requirements, that does not exempt from it, keeping and storing documents in the office.
There are the following advantages of company registration in Canada:
- Guaranteed positive image and solid reputation;
- Possibility of concluding major international contracts;
- Possibility of opening bank accounts in Canada;
- Possibility to force the procedure of obtaining citizenship for the shareholders and directors of the company;
- Signing agreements on avoidance of double taxation with more than 50 countries.
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