Main Characteristics and the basic rules of Company registration in Canada
Is there any plan in your mind to expand business operations to a country near the USA? If it is so, consider taking your venture to Canadian shores. Canada offers a positive environment for business setup or expansion for companies hailing from the USA and EU. The NAFTA is a big factor why Canada is being regarded as an ideal business destination by many entrepreneurs as well. So, in case you are looking for a company that offers professional Canada Company Formation service, you don’t have to look any farther. BRIS Group has skilled specialists who are well versed with different aspects of Canada Company Formation, so you would not have to deal with any problem.
The proximity to the USA and the scope to explore the market makes Canada ideal for companies seeking expansion. The running cost for venture is lower in Canada compared to the USA, studies have indicated. It is among the top countries which are deemed ideal for foreign direct investment and international business.
When you think of taking your venture operations to a faraway country, analyzing economy of the country becomes important. In this regard, business expanding to Canadian shores can grow better. As per the latest estimate of the IMF, the economy of Canada may grow in 2018 at rate of 2.3 per cent. This is better than its previous forecast. This should be more than good news for entrepreneurs thinking of doing business in the country.
You also have to think of the fact Canada has a stable banking system in place. The World Economic Forum is of the view Canadian banks are among the most stables ones in the global perspective. The highly-skilled work force in Canada is also useful for any business starting or expanding operations. To top it all, the Canadian government offers advantages to companies venturing into the country. You may get tax incentives in some niches. The intellectual-property rights laws are also there.
You should explore the website of Canadian Trade Commissioner Service, if taking the business to the country is on your agenda. It will be enough to understand that the Govt encourages foreign investment. You can in fact find details on laws and facilities in each province of Canada for the same and pick a location accordingly. You can in fact taste success in various businesses in Canada including IT peripherals, media, publication, medicine, healthcare, tourism etc.
Despite the various advantages of doing business in Canada and favorable factors, you will require assistance of experts for resolving legal issues pertaining to Canada Company Formation and learning about taxation. In this regard, you can count on the BRIS group totally. Our Canada Company Formation service will make setting up business in Canada smoother than you imagine. Contact us soon for more information.
|Canada Company Formation||Financial Advantages|
|Double Taxation Treaty Access:||Yes, Canada has tax treaties with other countries to foster cooperation between Canada and other international tax authorities.|
|Canada Tax Information Exchange Agreements:||Yes, Canada signed Exchange Agreements|
|Account Filing Requirements:||Yes accounting / reporting requirements|
|Annual Return Filing Requirements:||No annual return/ reporting requirements|
|Audit Requirements:||No audit required.|
|Canada Company Formation||Registration Requirements|
|Share Capital:||CAD 10,000. Minimum paid up share capital: CAD 1|
|Classes of Share Available for Canada company formation:||Shares with or without voting rights, redeemable shares, registered shares, preference shares, shares of no par value.|
|Bearer Shares:||Not Allowed|
|Registered Office Required:||Yes, required and must be maintained in Canada|
|Shareholders:||Minimum number is one|
|Directors:||Minimum number is one. Can be any nationality but at least 1 must be resident of Canada. Corporate directors are allowed.|
|Shareholders:||Minimum number is one.|
|Your Company language:||English|
|Name of your Company must be ended:||“Corporation”/ Corp., “Limited”/Ltd, “Incorporated”/Inc., “Limitée”/Ltée, “Société par actions de régime fédéral”/S.A.R.F., “Incorprée”|
|Documents required for Canada company formation:||A certified copy of your passport or ID and proof of your residential address dated less than 3 months.|
|Canada Company Formation||Restrictions|
|For Canada company formation you cannot use words in your company names without justification:||“Bank”, “Trustee Company”, “Assurance”, “Building Society”, ”Trust Company”, “Royal” etc.|
|Restrictions on Trading:||None|
|Not permitted without a licence:||Fund management, insurance, Banking, reinsurance, assurance, trust management, collective investment schemes, trusteeship business provision.|
|Canada Company Formation||Confidentiality and Security|
|Publicly Accessible Records:||Yes, accessible.|
|Nominee Shareholders and Nominee Directors:||Yes, Allowed|
|Disclosure of Beneficial Ownership to Authorities:||No|
|Meetings of Directors and Shareholders to be held:||Anywhere|
|Stability:||Stable jurisdiction and great reputation.|
|Region:||The Great Canadian Shield is the largest of Canada’s 6 physical regions and includes the Northwest Territories, Nunavut, Quebec, Alberta, Saskatchewan, Manitoba, Ontario and Newfoundland and Labrador.|
|Political System:||Parliamentary Democracy|
|Governing corporate legislation:||The Companies Acts 1931 to 1993. Limited Liability Companies Act 1996. Canada Business Corporations Act (CBCA)|
|Type of Law:||Common|
|Type of company:||International Business Company (IBC)|
|Currency:||Canadian Dollar (CAD)|
|Language of Legislation and Corporate Documents:||English.|
This publication is provided for information purposes only. This info should not be treated as a substitute for a tax or legal consultation or legislation. You should not act on the basis of the information contained in this publication without having obtained individual advice from the professional expert.
BRIS GROUP does not assume responsibility for any damage resulting from decisions made by the reader on the basis of this publication.