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CANADIAN COMPANY FORMATIONS

Canadian companies

Background on Canada

Population: 34 million and growing

10 provinces and 3 territories

Capital: Ottawa in Ontario

Self governing since 1867

Queen Elizabeth is Head of state, Prime Minister appoints cabinet, Governor General appointed by HM, House of parliament divided into Cabinet (executive)and Senate (elected)

Three major political parties, Conservatives (in office), Liberals and New Democratic Party

2nd largest country after Russia

Abundance of natural resources: iron ore, nickel, zinc, lead, timber, water

90% of population lives within 100 miles of US border

Largest cities: Toronto, Montreal, Calgary, Edmonton, Winnipeg, Halifax and Vancouver

Why Canada?

Canada has the lowest business taxes in G7

Canada currently has the highest economic growth in G7

Ranked one of the top three countries worldwide to invest into

Unlike the US, Canada has a “rule of law”, not needing excessive legal counsel to reach agreements and draft contracts

Canadian corporations are respected world-wide and very well suited to market goods and services in North America

Canada is politically stable, competitive and productive

Canada has the strongest fiscal position now in the G7

Canada was the ONLY country not needing a bail out by it’s government from the recent recession

Different types of Canadian Companies

Federal : Canada

Provincial : within a province

EPC : registration of a corporation from outside a Province

Limited Partnership : provides international clients benefits of prestigious jurisdiction and partnership taxation!!!

Federal Companies in Canada

Heightened name protection across Canada

Can carry on business anywhere in Canada (but may need to pay separate licence fees in provinces where you do business)

Slightly less expensive to register

25% of Directors must be Canadian

Option to have numbered company or named one

Provincial Companies in Canada

NO residency requirement for Directors in British Columbia, New Brunswick, Nova Scotia, Prince Edward Island and Quebec but need local registered agent

Ontario, Manitoba, Newfoundland and Alberta require 25% resident Directors on board, Saskatchewan requires majority

Allows you to operate your business within selected province

EPC in Canada, Extra-Provincial Corporation

An application for a license to carry out business within a specified province

No residency requirements for Directors

No tax on the company’s income derived outside Canada

Acts like a branch

Popular in Europe to market goods and services in North America

Limited Partnership in Canada

Canadian Limited Partnerships (LP) becoming more popular for international business. More information on LP in Canada can be found in dedicated Article: Canadian LP

Advantages of an EPC registration in Canada

It is like an offshore company, no tax on income outside Canada

BVI and any other offshore companies can be registered as an EPC

The EPC can obtain a Canadian bank account and open an office to conduct business in North America

No residency restrictions on directors, shareholders or officers.

 

LowTaxCompany.COM team will help you with different type of companies incorporation in Canada. Use contact form for free consultation now!